SPY vs TIER
SPY vs TIER
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price International Equity Research ETF
Quick Verdict
SPY has a lower expense ratio. TIER delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | TIER | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.38% | |
| AUM | $789.1B | - | |
| Dividend Yield | 1.01% | - | |
| Holdings | 505 | 347 | |
| YTD Return | +9.93% | +11.86% | |
| 1Y Return | +19.50% | +28.17% | |
| 3Y Return (annualized) | +19.33% | - | |
| 5Y Return (annualized) | +12.82% | - | |
| Volatility (annualized) | 15.3% | 14.7% | |
| Max Drawdown | -56.5% | -12.1% | |
| Fund Family | State Street Investment Management | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 25, 2025 |
SPY vs TIER Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and T. Rowe Price International Equity Research ETF (TIER) is a ETF from T.Rowe Price. Over the past year SPY returned +19.50% while TIER returned +28.17%. Year to date, SPY is up 9.93% versus a gain of 11.86% for TIER.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.7% for TIER. 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 -12.1% for TIER. 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while TIER charges 0.38%. On a $10,000 position that is $9 vs $38 annually, a gap of $29 per year that compounds over a long holding period.
Holdings Overlap
SPY and TIER share 1 holdings out of 664 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in TIER | Difference |
|---|---|---|---|
| VST | 0.08% | 0.04% | 0.04% |
Frequently Asked Questions
Which is cheaper, SPY or TIER?
SPY has an expense ratio of 0.09% while TIER charges 0.38%. SPY is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, SPY or TIER?
Over the past year SPY returned +19.50% vs +28.17% for TIER, so TIER leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.74% vs +24.82% for TIER. Past performance does not guarantee future results.
Which is riskier, SPY or TIER?
SPY has been the more volatile fund at 15.3% annualized versus 14.7% for TIER. Worst drawdown: SPY -56.5% vs TIER -12.1%.
Should I hold both SPY and TIER?
SPY and TIER have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TIER?
SPY and TIER share 1 common holdings with a 0.0% weight overlap. Combined, they hold 664 unique securities.
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