SPY vs TBUX
SPY vs TBUX
State Street SPDR S&P 500 ETF Trust vs T Rowe Price Ultra Short-Term Bond ETF
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 | SPY | TBUX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.17% | |
| AUM | $789.1B | $1.3B | |
| Dividend Yield | 1.01% | 4.49% | |
| Holdings | 505 | 622 | |
| YTD Return | +11.49% | +2.36% | |
| 1Y Return | +21.37% | +4.45% | |
| 3Y Return (annualized) | +20.76% | +5.54% | |
| 5Y Return (annualized) | +12.94% | - | |
| Volatility (annualized) | 15.3% | 1.1% | |
| Max Drawdown | -56.5% | -1.8% | |
| Fund Family | State Street Investment Management | T.Rowe Price | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Sep 28, 2021 |
SPY vs TBUX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and T Rowe Price Ultra Short-Term Bond ETF (TBUX) is a ETF from T.Rowe Price. Over the past year SPY returned +21.37% while TBUX returned +4.45%. Year to date, SPY is up 11.49% versus a gain of 2.36% for TBUX.
Over three years, SPY compounded at +20.76% per year against +5.54% for TBUX. Across the full 5-year window we track, SPY has the edge at +8.78% annualized vs +4.03%. 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 1.1% for TBUX. 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 -1.8% for TBUX. 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 0.43. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TBUX charges 0.17%. On a $10,000 position that is $9 vs $17 annually, a gap of $8 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 4.49% for TBUX.
Holdings Overlap
SPY and TBUX share 0 holdings out of 865 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, SPY or TBUX?
SPY has an expense ratio of 0.09% while TBUX charges 0.17%. SPY is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
Which performed better, SPY or TBUX?
Over the past year SPY returned +21.37% vs +4.45% for TBUX, so SPY leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.78% vs +4.03% for TBUX. Past performance does not guarantee future results.
Which is riskier, SPY or TBUX?
SPY has been the more volatile fund at 15.3% annualized versus 1.1% for TBUX. Worst drawdown: SPY -56.5% vs TBUX -1.8%.
Should I hold both SPY and TBUX?
SPY and TBUX have a monthly-return correlation of 0.43, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TBUX?
SPY and TBUX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 865 unique securities.
Which pays a higher dividend, SPY or TBUX?
SPY yields 1.01% while TBUX yields 4.49%, so TBUX currently pays the higher dividend yield.
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