SPYM vs SSPY: Grades, Fees and Holdings Compared

State Street SPDR Portfolio S&P 500 ETF

SPYMANYSE Arca

Stratified LargeCap Index ETF

SSPYCNYSE Arca

Overlap

43.6%by weight

Expense ratio

SPYM −0.43pt a year

SPYM0.02%SSPY0.45%

Avg volume · 30D

SPYM 7619.0×the volume

SPYM12MSSPY1.57K

5Y return · a year

SPYM +2.1pt

SPYM+12.0%SSPY+9.9%

SPYM vs SSPY Performance

Oct 29, 2021 – Oct 30, 2026

+76.6%SPYM+60.2%SSPY

Expense ratio: SPYM 0.02%, better; SSPY 0.45%
Fund size: SPYM $185B; SSPY $133M
1Y total return: SPYM +12.1%; SSPY +19.1%, better
Yield (12M): SPYM 1.02%; SSPY 1.19%, better
Holdings: SPYM 507; SSPY 504
Avg volume (30D): SPYM 12M sh, better; SSPY 1.57K sh
NAV per share: SPYM $90.57; SSPY $101.77
52W range

ETF.net Grade

Pillar letters and Scores for SPYM, SSPY, with each pillar’s weight
Pillar	SPYM	SSPY
Cost30% weight	A99Higher	F1
Mission25% weight	A100Higher	A74
Risk15% weight	C51	B69Higher
Tradability15% weight	B69Higher	F24
Holdings10% weight	B56	A87Higher
Durability5% weight	A79Higher	C40

Rank among S&P 500 funds

How we build Categories ›

Same Category. SPYM and SSPY are both graded against the same 14 S&P 500 funds, so their Grades compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

SPYM ranks 1st and SSPY 13th of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 12CDLCUDimensional US Large Company ETFScore 50
Rank 13CSSPYStratified LargeCap Index ETFScore 43
Rank 14CEGLEGlobal X S&P 500 U.S. Revenue Leaders ETFScore 40

Our read on each fund

ETF.net Research

SPYMAState Street SPDR Portfolio S&P 500 ETF

SSPYCStratified LargeCap Index ETF

In short

SPYM State Street's budget-priced S&P 500 tracker: the same 500 large caps as its famous sibling, for 0.02% a year, the lowest fee in its S&P 500 peer group. Running since 2005 and now one of the category's giants.

SSPY The contrarian on the S&P 500 shelf. SSPY tracks Syntax's Stratified LargeCap Index instead of the standard cap-weighted benchmark its rivals follow, and has been running that alternative rulebook since the end of 2014.

Stated mandate

SPYM The fund seeks to track the total return of the S&P 500 Index before fees and expenses, providing broad exposure to U.S. large-cap equities.

SSPY The Fund seeks to track, before expenses, the total return of companies included in the Syntax Stratified LargeCap Index.

Why people hold it

SPYM 0.02% a year, the cheapest fee in its S&P 500 cohort, against a 0.15% median for the group. Two dollars a year per $10,000 invested.
Same S&P 500 index as State Street's flagship SPY (0.09%), for a fraction of the fee, and a basis point under VOO and IVV.
Tracks the index tightly: gaps between fund and benchmark are among the smallest in its peer group, which is the whole job of an index wrapper.
Live since 2005, now one of the largest and most heavily traded funds in the category. Distributions land quarterly.

SSPY Same US large-cap universe as the shelf giants (VOO, IVV, SPY), different rulebook: it follows the Syntax Stratified LargeCap Index rather than the plain cap-weighted benchmark.
Plain-vanilla plumbing: a diversified US equity portfolio in a standard 1940 Act ETF wrapper, with no structural quirks flagged in our review.
Launched at the end of 2014, so the strategy carries a decade-plus live record instead of a backtest.

Worth knowing

SPYM The S&P 500 is cap-weighted, so the biggest US companies drive most of the move. Equal-weight takes on the same index (RSP) spread that bet differently.
About 500 US large caps and nothing else: no mid caps, no small caps, no international.
The fee edge over VOO and IVV is one basis point. Same index, so trading costs and platform access matter as much as the sticker fee.

SSPY The differentiation costs money: 0.45% a year, versus a 0.15% median for this peer group and 0.02% to 0.09% at the largest S&P 500 trackers.
Thinly traded and small next to the giants on this shelf, which typically shows up as wider bid-ask spreads at the moment you trade.
Income arrives on an annual or semiannual schedule, not quarterly.

Full SPYM profile⁠

Full SSPY profile⁠

SPYM vs SSPY Holdings

How SPYM and SSPY differ

Overlap by weight

43.6%

Shared holdings make up 99.9% of SPYM and 99.2% of SSPY.

Level by level

Holdings503 in both43.6%
Countryby domicile99.4%
Asset classEquity100%

Sector

No Sector split for SSPY.

Country, concentration and asset class

Country by domicile

Country weights in SPYM and SSPY, widest gap first
Country	More in SPYMMore in SSPY	SPYM	SSPY
United States	SPYM +0.5 points	99.5%	99.0%
Other countries (5)	SSPY +0.5 points	0.5%	1.0%

Concentration

Weight in the 10 largest Holdings

SPYM37.4%
SSPY9.2%

Securities held

SPYM506
SSPY503

Asset class

SPYM: Equity
SSPY: Equity

Holdings

Only in SPYM3
In both503
Only in SSPY0

Only in SPYM

3 securities, 0.0% of SPYM by weight

S+P500 Emini Fut DEC26<0.01%
Contra Hologic Incorpo0.00%
Contra Walgreens Boots0.00%

Only in SSPY

0 securities, 0.0% of SSPY by weight

Weight gaps

The 100 widest of 503 Holdings in both funds.

Holding weights in SPYM and SSPY, widest gap first
Holding	More in SPYMMore in SSPY	SPYM	SSPY
NVIDIA CorpNVDA	SPYM +7.66 points	7.77%	0.11%
Apple IncAAPL	SPYM +7.12 points	7.65%	0.53%
Microsoft CorpMSFT	SPYM +4.84 points	5.92%	1.08%
Amazon.com IncAMZN	SPYM +3.39 points	3.60%	0.21%
Alphabet Inc Class AGOOGL	SPYM +2.31 points	2.50%	0.19%
Broadcom IncAVGO	SPYM +2.15 points	2.47%	0.32%
Alphabet Inc Class CGOOG	SPYM +1.83 points	2.02%	0.19%
Meta Platforms Inc Class AMETA	SPYM +1.64 points	2.07%	0.43%
Micron Technology IncMU	SPYM +1.49 points	1.59%	0.10%
Eli Lilly & CoLLY	SPYM +1.32 points	1.65%	0.33%
Tesla IncTSLA	SPYM +1.29 points	1.71%	0.42%
Advanced Micro DevicesAMD	SPYM +1.27 points	1.39%	0.12%
JPMorgan Chase & CoJPM	SPYM +1.25 points	1.37%	0.12%
Visa Inc Class A SharesV	SPYM +1.00 points	1.05%	0.05%
Synchrony FinancialSYF	SSPY +0.98 points	0.04%	1.02%
Berkshire Hathaway Inc Class BBRK.B	SPYM +0.98 points	1.52%	0.54%
Capital One Financial CorpCOF	SSPY +0.82 points	0.19%	1.01%
Kroger CoKR	SSPY +0.79 points	0.06%	0.85%
Mastercard Inc AMA	SPYM +0.72 points	0.77%	0.05%
Johnson & JohnsonJNJ	SPYM +0.72 points	1.00%	0.28%
Intl Business Machines CorpIBM	SSPY +0.70 points	0.37%	1.07%
Sysco CorpSYY	SSPY +0.69 points	0.06%	0.75%
Ross Stores IncROST	SSPY +0.65 points	0.11%	0.76%
Tjx Companies IncTJX	SSPY +0.62 points	0.23%	0.85%
Intel CorpINTC	SPYM +0.59 points	0.69%	0.10%
Exxonmobil Holdings CorpXOM	SPYM +0.57 points	1.13%	0.56%
Palantir Technologies Inc APLTR	SPYM +0.52 points	0.68%	0.16%
Universal Health Services BUHS	SSPY +0.50 points	0.01%	0.51%
Darden Restaurants IncDRI	SSPY +0.49 points	0.04%	0.53%
Yum Brands IncYUM	SSPY +0.49 points	0.06%	0.55%
Domino’s Pizza IncDPZ	SSPY +0.48 points	0.02%	0.50%
Loews CorpL	SSPY +0.48 points	0.03%	0.51%
Cisco Systems IncCSCO	SPYM +0.48 points	0.64%	0.16%
AbbVie IncABBV	SPYM +0.47 points	0.77%	0.30%
Hca Healthcare IncHCA	SSPY +0.45 points	0.11%	0.56%
Kinder Morgan IncKMI	SSPY +0.45 points	0.10%	0.55%
Church & Dwight Co IncCHD	SSPY +0.45 points	0.04%	0.49%
Estee Lauder Companies Class AEL	SSPY +0.44 points	0.04%	0.48%
Targa Resources CorpTRGP	SSPY +0.44 points	0.10%	0.54%
Kimberly Clark CorpKMB	SSPY +0.42 points	0.06%	0.48%
Clorox CompanyCLX	SSPY +0.42 points	0.02%	0.44%
Kenvue IncKVUE	SSPY +0.42 points	0.06%	0.48%
Motorola Solutions IncMSI	SSPY +0.41 points	0.12%	0.53%
Oneok IncOKE	SSPY +0.41 points	0.09%	0.50%
Bank of America CorpBAC	SPYM +0.40 points	0.50%	0.10%
Brown Forman Corp Class BBF.B	SSPY +0.39 points	<0.01%	0.40%
Tyson Foods Inc Class ATSN	SSPY +0.38 points	0.02%	0.40%
Williams Cos IncWMB	SSPY +0.37 points	0.14%	0.51%
Chipotle Mexican Grill IncCMG	SSPY +0.38 points	0.06%	0.44%
Hormel Foods CorpHRL	SSPY +0.37 points	<0.01%	0.38%
Jm Smucker Co/TheSJM	SSPY +0.37 points	0.02%	0.39%
Constellation Brands Inc ASTZ	SSPY +0.37 points	0.03%	0.40%
General ElectricGE	SPYM +0.37 points	0.49%	0.12%
Centene CorpCNC	SSPY +0.37 points	0.05%	0.42%
Charter Communications Inc ACHTR	SSPY +0.36 points	0.02%	0.38%
Starbucks CorpSBUX	SSPY +0.36 points	0.18%	0.54%
Aptiv PLCAPTV	SSPY +0.36 points	0.01%	0.37%
Colgate Palmolive CoCL	SSPY +0.35 points	0.11%	0.46%
Palo Alto Networks IncPANW	SPYM +0.35 points	0.47%	0.12%
Applied Materials IncAMAT	SPYM +0.34 points	0.50%	0.16%
Caterpillar IncCAT	SPYM +0.35 points	0.45%	0.10%
Reddit Inc Class ARDDT	SSPY +0.34 points	0.03%	0.37%
Kraft Heinz Co/TheKHC	SSPY +0.34 points	0.03%	0.37%
Humana IncHUM	SSPY +0.33 points	0.08%	0.41%
Lam Research CorpLRCX	SPYM +0.34 points	0.48%	0.14%
Ralph Lauren CorpRL	SSPY +0.34 points	0.02%	0.36%
Nisource IncNI	SSPY +0.33 points	0.03%	0.36%
Comcast Corp Class ACMCSA	SSPY +0.33 points	0.12%	0.45%
Mccormick & Co Non Vtg ShrsMKC	SSPY +0.32 points	0.02%	0.34%
General Mills IncGIS	SSPY +0.32 points	0.03%	0.35%
Rtx CorpRTX	SPYM +0.32 points	0.40%	0.08%
Lululemon Athletica IncLULU	SSPY +0.32 points	0.02%	0.34%
Home Depot IncHD	SPYM +0.31 points	0.49%	0.18%
Omnicom GroupOMC	SSPY +0.31 points	0.03%	0.34%
Atmos Energy CorpATO	SSPY +0.31 points	0.04%	0.35%
American Water Works Co IncAWK	SSPY +0.31 points	0.04%	0.35%
Hasbro IncHAS	SSPY +0.30 points	0.03%	0.33%
Linde PLCLIN	SPYM +0.30 points	0.35%	0.05%
Skydance CorpSKYD	SSPY +0.29 points	<0.01%	0.30%
Aes CorpAES	SSPY +0.29 points	0.02%	0.31%
Moderna IncMRNA	SSPY +0.30 points	0.12%	0.42%
Halliburton CoHAL	SSPY +0.29 points	0.04%	0.34%
Deckers Outdoor CorpDECK	SSPY +0.29 points	0.02%	0.31%
Archer Daniels Midland CoADM	SSPY +0.27 points	0.06%	0.33%
Coca Cola Co/TheKO	SPYM +0.28 points	0.54%	0.26%
Viatris IncVTRS	SSPY +0.28 points	0.03%	0.31%
Bunge Global SABG	SSPY +0.28 points	0.02%	0.30%
Crowdstrike Holdings Inc ACRWD	SPYM +0.27 points	0.40%	0.13%
Masco CorpMAS	SSPY +0.27 points	0.02%	0.29%
Godaddy Inc Class AGDDY	SSPY +0.27 points	0.02%	0.29%
Merck & Co. Inc.MRK	SPYM +0.27 points	0.54%	0.27%
Stanley Black & Decker IncSWK	SSPY +0.27 points	0.02%	0.29%
Oracle CorpORCL	SPYM +0.27 points	0.36%	0.09%
Elevance Health IncELV	SSPY +0.27 points	0.14%	0.41%
Smith (A.o.) CorpAOS	SSPY +0.27 points	0.01%	0.28%
Wells Fargo & CoWFC	SPYM +0.27 points	0.39%	0.12%
Tapestry IncTPR	SSPY +0.26 points	0.04%	0.30%
General Motors CoGM	SSPY +0.27 points	0.11%	0.38%
Garmin LtdGRMN	SSPY +0.26 points	0.07%	0.33%
Ford Motor CoF	SSPY +0.26 points	0.07%	0.33%

All 505 SPYM holdings⁠All 503 SSPY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SPYM vs SSPY Cost

Overpaying SSPY vs SPYM

$8,615

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SPYM 0.02%
$426
SSPY 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

SPYM 0.02%
SSPY 0.45%
Overpaying

Year by year

Year	SPYM	SSPY	Overpaying
10	$37	$812	$775
20	$144	$3,128	$2,984
30	$426	$9,041	$8,615

Expense ratio

0.02%SPYM, cheaper
0.45%SSPY

SPYM0.02%SSPY0.45%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

SPYM cheapest of 14 funds

SSPY 14th cheapest of 14 funds

SPYM vs SSPY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPYM 1.02%; SSPY 1.19%, better
Payout (12M): SPYM $0.91; SSPY $1.20
Last payment: SPYM $0.24; SSPY $1.20
Ex-dividend: SPYM Sep 11, 2026; SSPY Dec 30, 2025
Paid on: SPYM Sep 15, 2026; SSPY Dec 31, 2025
Frequency: SPYM Quarterly; SSPY Annual

Distribution history

Per share, 2017 to 2026, same scale for both

SPYMQuarterly · 39 paymentsAll SPYM payments⁠

SSPYAnnual · 8 paymentsAll SSPY payments⁠

SPYM vs SSPY Risk

Fall from peak · 5 years

SPYM
SSPY

Risk facts

VolatilityStd dev, 3 years: SPYM 12.3%SSPY 11.8%, better
Return per unit of riskSharpe ratio, 3 years: SPYM 1.42, betterSSPY 1.21
Worst fallMax drawdown, 5 years: SPYM −24.5%SSPY −19.6%, better
Market sensitivityBeta, 5 years: SPYM 1.01SSPY 0.85; Market = 1

SPYM and SSPY in the news

All news⁠

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Updated Nov 2, 2026SPYM
Deep Dive
SPY vs. SPYM, VOO, and IVV: Why SPY trails cheaper S&P 500 ETFs
Oct 29, 2026SPYM
Head-to-Head
SPYM leads IWF by 9.4 percentage points in 2026. They are not the same bet
Oct 21, 2026SPYM
Deep Dive
SPY trailed the S&P 500 by 0.14 percentage points over the past year, more than triple the gap at cheaper rivals
Oct 13, 2026SPYM
Deep Dive
VOO shares its portfolio with other Vanguard 500 index fund share classes
Oct 10, 2026SPYM
Best ETFs
The cheap S&P 500 funds tied this year. Equal weight did not.
Updated Oct 2, 2026SPYM

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SPYM vs SSPY

In short

Stated mandate

Why people hold it