SPY vs TCAF: Differences, Returns & Fees
SPY and TCAF hold 41% of their weight in the same names, and SPY returned +17.3% over the year. Net assets: $817.2bn on Oct 8, 2026 for SPDR S&P 500 ETF Trust, and $9.1bn on Oct 9, 2026 for T. Rowe Price Capital Appreciation Equity ETF.
SPY costs 0.22 points a year less; their one-year returns differ by 3.4 points; SPY is far larger, $817.2bn against $9.0bn.
| SPY | TCAF | |
|---|---|---|
| Expense ratio | 0.09% | 0.31% |
| Net assets, as of Oct 8, 2026 | $817.2bn | $9.0bn |
| Total return, 1 year | +17.3% | +13.9% |
| What it tracks | S&P 500 Index | No index, actively managed |
| Holdings in common | 41% | |
| Top ten holdings, share of the fund | 39.1% | 40.9% |
Holdings in common uses holdings dated Jun 30, 2026 and Oct 8, 2026.
What they hold in common
By the books each fund has filed, SPY and TCAF hold 41% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Oct 8, 2026.
half
41% in common
On the same fields
SPY and TCAF on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.
About SPY
SPY tracks the S&P 500. Over the year to Oct 9, 2026 it returned +17.3% with distributions reinvested, against +17.3% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 8, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 39.1%.
About TCAF
TCAF is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +13.9% with distributions reinvested. The prospectus expense ratio is 0.31% a year. By its holdings filed for Jun 30, 2026, 84% of the fund by weight is stocks the S&P 500 also holds, across 90 positions, with the top ten at 40.9%.
Questions people ask
- Which returned more over the last year, SPY or TCAF?
- In the year to Oct 9, 2026, with distributions reinvested, SPY returned +17.3% and TCAF +13.9%.
- Which is cheaper, SPY or TCAF?
- SPY is cheaper, by 0.22 percentage points a year. That is about $22 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Cite this pageCitation, APA and Markdown
ETFIQ, SPY against TCAF, data as of Oct 9, 2026. https://etfiq.com/compare/any/spy-vs-tcaf
ETFIQ. (Oct 9, 2026). SPY against TCAF. Retrieved from https://etfiq.com/compare/any/spy-vs-tcaf
[SPY against TCAF (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/any/spy-vs-tcaf)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.