SPY vs TRPA
SPY vs TRPA
State Street SPDR S&P 500 ETF Trust vs Hartford AAA CLO 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 | TRPA | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.24% | |
| AUM | $789.1B | $111M | |
| Dividend Yield | 1.01% | 5.07% | |
| Holdings | 505 | 123 | |
| YTD Return | +13.79% | -0.15% | |
| 1Y Return | +23.66% | +1.74% | |
| 3Y Return (annualized) | +21.40% | +5.03% | |
| 5Y Return (annualized) | +13.37% | +2.79% | |
| Volatility (annualized) | 15.3% | 3.5% | |
| Max Drawdown | -56.5% | -10.8% | |
| Fund Family | State Street Investment Management | Hartford Funds | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | May 30, 2018 |
SPY vs TRPA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Hartford AAA CLO ETF (TRPA) is a ETF from Hartford Funds. Over the past year SPY returned +23.66% while TRPA returned +1.74%. Year to date, SPY is up 13.79% versus a loss of 0.15% for TRPA.
Over three years, SPY compounded at +21.40% per year against +5.03% for TRPA; over five years the annualized figures are +13.37% and +2.79% respectively. Across the full 8-year window we track, SPY has the edge at +8.85% annualized vs +3.13%. 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 3.5% for TRPA. 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 -10.8% for TRPA. 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 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while TRPA charges 0.24%. On a $10,000 position that is $9 vs $24 annually, a gap of $15 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 5.07% for TRPA.
Holdings Overlap
SPY and TRPA share 0 holdings out of 514 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 TRPA?
SPY has an expense ratio of 0.09% while TRPA charges 0.24%. SPY is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, SPY or TRPA?
Over the past year SPY returned +23.66% vs +1.74% for TRPA, so SPY leads on 1-year performance. Over the longest common window we track (8 years), SPY annualized +8.85% vs +3.13% for TRPA. Past performance does not guarantee future results.
Which is riskier, SPY or TRPA?
SPY has been the more volatile fund at 15.3% annualized versus 3.5% for TRPA. Worst drawdown: SPY -56.5% vs TRPA -10.8%.
Should I hold both SPY and TRPA?
SPY and TRPA have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and TRPA?
SPY and TRPA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, SPY or TRPA?
SPY yields 1.01% while TRPA yields 5.07%, so TRPA currently pays the higher dividend yield.
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