SPYM vs XDIV

SPYMAState Street SPDR Portfolio S&P 500 ETF

XDIVCRoundhill S&P 500 No Dividend Target 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.

XDIV An S&P 500 fund designed to pay you nothing. It holds the big index ETFs and sells each before its ex-dividend date, chasing the index's total return with no cash distributions.

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.

XDIV The fund seeks to deliver the S&P 500 Index’s total return before fees and expenses while avoiding dividend or other distribution payments.

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.

• XDIV Targets the S&P 500's total return before fees while aiming to pay no dividends or distributions, so gains ride in the share price instead of landing as income.roundhillinvestments.com
• No swaps or options. It just owns big S&P 500 trackers like IVV, VOO and SPY, stepping out of each one before its ex-dividend date.roundhillinvestments.com
• Costs 0.08% net of a waiver through May 1, 2027 (0.20% gross), near the category median and above core trackers IVV and VOO at 0.03%.

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.

• XDIV The prospectus is blunt: no guarantee it matches the index's total return or avoids every distribution. Rotating around ex-dividend dates can open tracking gaps.roundhillinvestments.com
• Filings flag ex-dividend tax risk: if the IRS deems the fund owed dividend income it skipped, it may owe a deficiency dividend plus interest to keep its fund tax status.roundhillinvestments.com
• Launched in 2025 and still small, it trades less actively than the giant core S&P 500 ETFs, which usually means wider spreads.

Full SPYM profile⁠

Full XDIV profile⁠