ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on SPY and SPYM.
Tracks the S&P 500 Index, providing broad U.S. large-cap equity exposure at a low cost.
Asset class
Equity
Equity
Inception date
01/22/1993
11/08/2005
Beta
1.0
1.0
Last dividend
$1.9035
$0.2390
Ex-dividend date
06/18/2026
06/12/2026
Bottom lineSPY and SPYM are nearly interchangeable — both track the S&P 500 with very similar cost and risk. The clearest tie-breaker is cost: SPYM is cheaper at 0.02% vs 0.10%.
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Want to go deeper?
Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — no signup required.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
SPY has lagged SPYM over the trailing twelve months, posting a 23.31% total return against 23.41%. The lead holds up over 10 years too: SPYM has compounded at 15.45% a year, against 15.36% for SPY. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 5, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Nov 2005” measures every fund from November 15, 2005 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
SPY (SPDR S&P 500 ETF Trust) and SPYM (SPDR Portfolio S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.
SPYM offers the higher yield at 1.06% vs 0.99% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
SPYM is cheaper with an expense ratio of 0.02% compared to 0.10%.
SPY is the larger fund by assets ($789B), which generally means tighter spreads and better liquidity.
Still deciding? Track SPY & SPYM for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, SPY would generate roughly $8.25/month, while SPYM would produce $8.83/month, at current distribution rates. Both pay quarterly distributions.
SPY yield0.99%
SPYM yield1.06%
Monthly diff on $10K$0.58
Cost & efficiency
Over 10 years on $10,000, SPY would cost approximately $100 in fees vs $20 for SPYM (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
SPY ER0.10%
SPYM ER0.02%
Strategy & risk
Both SPY and SPYM wrap S&P 500 Index with similar strategies (large cap and large cap). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.
SPY beta1.0
SPYM beta1.0
Fund details
SPY is managed by State Street (launched 01/22/1993) with $789B in assets. SPYM is managed by State Street (launched 11/08/2005) with $157B in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
What is the current distribution yield for SPY and SPYM?
SPY currently distributes 0.99% and SPYM 1.06%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is SPY or SPYM better for dividend income?
It depends on your goals. SPYM currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between SPY and SPYM?
Both SPY (SPDR S&P 500 ETF Trust) and SPYM (SPDR Portfolio S&P 500 ETF) track S&P 500 Index with similar approaches — the labels "large cap" and "large cap" describe closely related mechanics. The real differences show up in yield target (0.99% vs 1.06%), expense ratio (0.10% vs 0.02%), and issuer (State Street vs State Street).
Can I hold both SPY and SPYM?
You can, but expect significant overlap. Both funds use similar strategies on S&P 500 Index, so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.
Which has lower fees, SPY or SPYM?
SPY has an expense ratio of 0.10% while SPYM charges 0.02%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in SPY vs SPYM generate?
At current rates, $10,000 in SPY would generate roughly $8.25 per month ($99.00 annually). The same in SPYM would produce about $8.83 per month ($106.00 annually).
Which has performed better historically, SPY or SPYM?
SPY has lagged SPYM over the trailing twelve months, posting a 23.31% total return against 23.41%. The lead holds up over 10 years too: SPYM has compounded at 15.45% a year, against 15.36% for SPY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Still deciding? Compare them against your own portfolio
See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.
