SPY vs SPYT
State Street SPDR S&P 500 ETF Trust compared with Defiance S&P 500 Target Income on yield, payout growth, payment schedule, cost and risk.
SPY
State Street SPDR S&P 500 ETF Trust
TTM yield · Quarterly
SPYT
Defiance S&P 500 Target Income
TTM yield · Monthly
Quick take
- SPYT yields more today: 21.01% vs 0.99% (forward).
- SPY has grown its payout faster: 4.5%/yr vs -6.6%/yr over the last 1 year.
- SPY pays every quarter; SPYT pays every month.
- SPY has the longer streak of annual increases: 12 years vs 0.
- Over the last year SPY delivered the higher total return: +15.2% vs +10.5% (price change plus payouts).
- SPY is cheaper to own: 0.09% vs 0.92% expense ratio.
Generated from the latest data on both pages. Not a recommendation.
Side by side
| Metric | SPY | SPYT |
|---|---|---|
| Share price | $759.97 | $16.86 |
| TTM yield | 1.00% | 21.01% |
| Forward yield | 0.99% | 21.01% |
| Annual payout per share | $7.556 | $3.542 |
| Payment frequency | Quarterly | Monthly |
| Next ex-date | Dec 18, 2026 (est.) | Oct 31, 2026 (est.) |
| Expense ratio | 0.09% | 0.92% |
| 1-year payout growth | +4.5% | -6.6% |
| 5-year payout CAGR | +6.0% | — |
| Consecutive years of increases | 12 years | 0 years |
| Payout consistency (last 12) | 94/100 | 95/100 |
| 1-year total return | +15.2% | +10.5% |
| 1-year price return | +14.1% | -8.7% |
| Size (market cap / AUM) | 809.2B | 165.3M |
| Years paying | 33.6 | 2.6 |
| Sector / category | Large Blend | Large Blend |
✓ marks the more favourable figure where one exists (higher yield, growth, streak, consistency, return and size; lower cost, payout ratio and risk).
$10,000 invested today
| SPY | SPYT | |
|---|---|---|
| Shares | 13.2 | 593.1 |
| Income per year | $99 | $2,101 |
| Income per month (avg) | $8 | $175 |
At forward yields, before taxes. Model SPY · Model SPYT
Next payments
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| SPY Dec 18, 2026 | Jan 1, 2027 | $1.889 | Est. |
| SPY Mar 19, 2027 | Apr 2, 2027 | $1.889 | Est. |
| SPY Jun 18, 2027 | Jul 2, 2027 | $1.889 | Est. |
| SPYT Oct 31, 2026 | Nov 14, 2026 | $0.2952 | Est. |
| SPYT Nov 30, 2026 | Dec 14, 2026 | $0.2952 | Est. |
| SPYT Dec 30, 2026 | Jan 13, 2027 | $0.2952 | Est. |
Annual payouts per share
SPYSPYT
Regular payments only; the current year is year to date. Per-share amounts are not directly comparable when share prices differ, so read this chart for growth trends.
FAQ
Which has the higher dividend yield, SPY or SPYT?
SPYT currently has the higher trailing yield: SPY yields 1.00% and SPYT yields 21.01%. Yield changes daily with price, so check the live figures above.
How often do SPY and SPYT pay?
SPY pays every quarter and SPYT pays every month. SPY's next ex-date is Dec 18, 2026 and SPYT's is Oct 31, 2026.
Which has grown its dividend faster, SPY or SPYT?
SPY has grown its payout faster: 4.5%/yr vs -6.6%/yr over the last 1 year.
Is SPY or SPYT better for income?
It depends on what you are optimising for. SPY and SPYT differ in yield, growth, payment schedule and risk profile; the table above puts every metric side by side so you can weigh them for your own goals. This page is data, not advice.