SMTH vs SPY
SMTH vs SPY
ALPS Smith Core Plus Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SMTH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $3.0B | $789.1B | |
| Dividend Yield | 4.38% | 1.01% | |
| Holdings | 954 | 505 | |
| YTD Return | +0.11% | +13.50% | |
| 1Y Return | +2.33% | +23.56% | |
| 3Y Return (annualized) | - | +21.17% | |
| 5Y Return (annualized) | - | +13.46% | |
| Volatility (annualized) | 4.0% | 15.3% | |
| Max Drawdown | -4.1% | -56.5% | |
| Fund Family | ALPS Advisors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 5, 2023 | Jan 22, 1993 |
SMTH vs SPY Performance
ALPS Smith Core Plus Bond ETF (SMTH) is a ETF from ALPS Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMTH returned +2.33% while SPY returned +23.56%. Year to date, SMTH is up 0.11% versus a gain of 13.50% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.0% for SMTH. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -4.1% for SMTH and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SMTH charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, SMTH currently yields 4.38% against 1.01% for SPY.
Holdings Overlap
SMTH and SPY share 0 holdings out of 650 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SMTH or SPY?
SMTH has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, SMTH or SPY?
Over the past year SMTH returned +2.33% vs +23.56% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SMTH annualized +4.94% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SMTH or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.0% for SMTH. Worst drawdown: SMTH -4.1% vs SPY -56.5%.
Should I hold both SMTH and SPY?
SMTH and SPY have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMTH and SPY?
SMTH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 650 unique securities.
Which pays a higher dividend, SMTH or SPY?
SMTH yields 4.38% while SPY yields 1.01%, so SMTH currently pays the higher dividend yield.
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