SPXT vs SPY
SPXT vs SPY
ProShares S&P 500 Ex-Technology ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPXT has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPXT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $275M | $789.1B | |
| Dividend Yield | 1.37% | 1.01% | |
| Holdings | 430 | 505 | |
| YTD Return | +8.03% | +13.10% | |
| 1Y Return | +17.44% | +22.80% | |
| 3Y Return (annualized) | +15.79% | +20.98% | |
| 5Y Return (annualized) | +9.59% | +13.20% | |
| Volatility (annualized) | 14.4% | 15.3% | |
| Max Drawdown | -34.4% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 22, 2015 | Jan 22, 1993 |
SPXT vs SPY Performance
ProShares S&P 500 Ex-Technology ETF (SPXT) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPXT returned +17.44% while SPY returned +22.80%. Year to date, SPXT is up 8.03% versus a gain of 13.10% for SPY.
Over three years, SPXT compounded at +15.79% per year against +20.98% for SPY; over five years the annualized figures are +9.59% and +13.20% respectively. Across the full 11-year window we track, SPXT has the edge at +10.79% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.4% for SPXT. 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 -34.4% for SPXT 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPXT charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, SPXT currently yields 1.37% against 1.01% for SPY.
Holdings Overlap
SPXT and SPY share 418 holdings out of 514 unique holdings combined, representing a 60.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPXT | Weight in SPY | Difference |
|---|---|---|---|
| AMZN | 5.85% | 3.69% | 2.16% |
| GOOGL | 5.26% | 3.32% | 1.94% |
| GOOG | 4.22% | 2.66% | 1.56% |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| JPM:US | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| V | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
See all 10 holdings SPXT shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, SPXT or SPY?
SPXT has an expense ratio of 0.09% while SPY charges 0.09%. SPXT is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPXT or SPY?
Over the past year SPXT returned +17.44% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPXT annualized +10.79% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, SPXT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.4% for SPXT. Worst drawdown: SPXT -34.4% vs SPY -56.5%.
Should I hold both SPXT and SPY?
SPXT and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPXT and SPY?
SPXT and SPY share 418 common holdings with a 60.9% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, SPXT or SPY?
SPXT yields 1.37% while SPY yields 1.01%, so SPXT currently pays the higher dividend yield.
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