Data as of Nov 4, 2026.
SPYM vs XSEP: Differences, Returns & Fees
Over the year to Nov 4, 2026, SPYM returned +14.8% to XSEP's +9.3%, and SPYM charges 0.02% to XSEP's 0.85%.
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Net assets on Nov 3, 2026: $181.7bn for State Street SPDR Portfolio S&P 500 ETF and $99m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September.
Pair scorecard
SPYM costs 0.83 points a year less; their one-year returns differ by 5.5 points; SPYM is far larger, $181.7bn against $99m.
| Measure | SPYM | XSEP |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.8% | +9.3% |
| Drawdown | ||
| Index fall to the buffer | 0.6% | |
| Fund price fall to the buffer | 1.7% | |
| Benchmark | ||
| What it tracks | S&P 500 Index | SPY |
| The outcome period | ||
| Room to the cap | 9.4% | |
| Buffer left, in index points | 15.0% of 15.0% | |
| Days left in the period | 317 | |
| Period ends | Sep 17, 2027 | |
| Cost and size | ||
| Expense ratio | 0.02% | 0.85% |
| Net assets, as of Nov 3, 2026 | $181.7bn | $99m |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 37.3% | |
Side by side
SPYM and XSEP on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
SPYM
SPYM tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.02% a year. By its holdings published by its issuer for Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 37.3%.
XSEP
From its price on Nov 4, 2026, the fund can gain about 9.4% more before it reaches its cap. The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.6% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.
Questions people ask
- Are SPYM and XSEP in the same category?
- SPYM is a stock ETF and XSEP is a buffer ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, SPYM or XSEP?
- In the year to Nov 4, 2026, with distributions reinvested, SPYM returned +14.8% and XSEP +9.3%.
- Which is cheaper, SPYM or XSEP?
- SPYM is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, SPYM against XSEP, data as of Nov 4, 2026. https://etfiq.com/compare/any/spym-vs-xsep
ETFIQ. (Nov 4, 2026). SPYM against XSEP. Retrieved from https://etfiq.com/compare/any/spym-vs-xsep
[SPYM against XSEP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/spym-vs-xsep)
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