SPY vs SPYM
SPY vs SPYM
State Street SPDR S&P 500 ETF Trust vs State Street SPDR Portfolio S&P 500 ETF
Quick Verdict
SPYM has a lower expense ratio. SPYM delivered stronger 1-year returns. SPYM offers more diversification with 504 holdings.
Side-by-Side Comparison
| Metric | SPY | SPYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.02% | |
| AUM | $789.1B | $160.0B | |
| Dividend Yield | 1.01% | 1.03% | |
| Holdings | 505 | 508 | |
| YTD Return | +11.49% | +11.53% | |
| 1Y Return | +21.37% | +21.48% | |
| 3Y Return (annualized) | +20.76% | +20.85% | |
| 5Y Return (annualized) | +12.94% | +13.03% | |
| Volatility (annualized) | 15.3% | 14.8% | |
| Max Drawdown | -56.5% | -34.3% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Nov 8, 2005 |
SPY vs SPYM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and State Street SPDR Portfolio S&P 500 ETF (SPYM) is a ETF from State Street Investment Management. Over the past year SPY returned +21.37% while SPYM returned +21.48%. Year to date, SPY is up 11.49% versus a gain of 11.53% for SPYM.
Over three years, SPY compounded at +20.76% per year against +20.85% for SPYM; over five years the annualized figures are +12.94% and +13.03% respectively. Across the full 13-year window we track, SPYM has the edge at +12.67% annualized vs +8.78%. 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 14.8% for SPYM. 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 -56.5% for SPY and -34.3% for SPYM. 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while SPYM charges 0.02%. On a $10,000 position that is $9 vs $2 annually, a gap of $7 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.03% for SPYM.
Holdings Overlap
SPY and SPYM share 501 holdings out of 506 unique holdings combined, representing a 99.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPY | Weight in SPYM | Difference |
|---|---|---|---|
| NVDA | 7.31% | 7.30% | 0.01% |
| AAPL | 7.09% | 7.08% | 0.01% |
| MSFT | 4.43% | 4.43% | 0.00% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings SPY shares with SPYM 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, SPY or SPYM?
SPY has an expense ratio of 0.09% while SPYM charges 0.02%. SPYM is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, SPY or SPYM?
Over the past year SPY returned +21.37% vs +21.48% for SPYM, so SPYM leads on 1-year performance. Over the longest common window we track (13 years), SPY annualized +8.78% vs +12.67% for SPYM. Past performance does not guarantee future results.
Which is riskier, SPY or SPYM?
SPY has been the more volatile fund at 15.3% annualized versus 14.8% for SPYM. Worst drawdown: SPY -56.5% vs SPYM -34.3%.
Should I hold both SPY and SPYM?
SPY and SPYM have a monthly-return correlation of 1.00, 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 SPY and SPYM?
SPY and SPYM share 501 common holdings with a 99.9% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SPY or SPYM?
SPY yields 1.01% while SPYM yields 1.03%, so SPYM currently pays the higher dividend yield.
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