SPY vs TOTL
SPY vs TOTL
State Street SPDR S&P 500 ETF Trust vs State Street DoubleLine Total Return Tactical 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 | TOTL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.55% | |
| AUM | $789.1B | $4.1B | |
| Dividend Yield | 1.01% | 5.27% | |
| Holdings | 505 | 1,529 | |
| YTD Return | +13.50% | -1.12% | |
| 1Y Return | +23.56% | +1.55% | |
| 3Y Return (annualized) | +21.17% | +4.24% | |
| 5Y Return (annualized) | +13.46% | +0.18% | |
| Volatility (annualized) | 15.3% | 4.5% | |
| Max Drawdown | -56.5% | -18.0% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Feb 23, 2015 |
SPY vs TOTL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and State Street DoubleLine Total Return Tactical ETF (TOTL) is a ETF from State Street Investment Management. Over the past year SPY returned +23.56% while TOTL returned +1.55%. Year to date, SPY is up 13.50% versus a loss of 1.12% for TOTL.
Over three years, SPY compounded at +21.17% per year against +4.24% for TOTL; over five years the annualized figures are +13.46% and +0.18% respectively. Across the full 11-year window we track, SPY has the edge at +8.85% annualized vs -0.06%. 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 4.5% for TOTL. 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 -18.0% for TOTL. 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TOTL charges 0.55%. On a $10,000 position that is $9 vs $55 annually, a gap of $46 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 5.27% for TOTL.
Holdings Overlap
SPY and TOTL share 0 holdings out of 640 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 TOTL?
SPY has an expense ratio of 0.09% while TOTL charges 0.55%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, SPY or TOTL?
Over the past year SPY returned +23.56% vs +1.55% for TOTL, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPY annualized +8.85% vs -0.06% for TOTL. Past performance does not guarantee future results.
Which is riskier, SPY or TOTL?
SPY has been the more volatile fund at 15.3% annualized versus 4.5% for TOTL. Worst drawdown: SPY -56.5% vs TOTL -18.0%.
Should I hold both SPY and TOTL?
SPY and TOTL have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TOTL?
SPY and TOTL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 640 unique securities.
Which pays a higher dividend, SPY or TOTL?
SPY yields 1.01% while TOTL yields 5.27%, so TOTL currently pays the higher dividend yield.
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