TLTE vs SPY
Comparison between FLEXSHARES MORNINGSTAR EMERGING MARKETS FACTOR TILT INDEX FUND (TLTE, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed TLTE, delivering a return of +13.0% compared to +7.5%
TLTE vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TLTE
$354M
Winner
SPY
$781B
Expense Ratio
TLTE
0.57%
Winner
SPY
0.09%
Max Drawdown
Winner
TLTE
47.60%
SPY
56.47%
Sharpe Ratio
TLTE
1.13
Winner
SPY
1.25
5Y Beta
Winner
TLTE
0.77
SPY
1.00
P/E Ratio
TLTE
N/A
SPY
28.78
Forward P/E
TLTE
N/A
SPY
21.23
5Y Dividends CAGR
Winner
TLTE
12.10%
SPY
6.00%
5Y EPS CAGR
TLTE
N/A
SPY
25.62%
Debt to Equity
TLTE
N/A
SPY
31.92%
P/S Ratio
TLTE
N/A
SPY
3.76
P/B Ratio
TLTE
N/A
SPY
5.64
TLTE vs SPY - Holdings Comparison
TLTE and SPY have 1 common holdings. Overlap is -0.02%
TLTE's top 25 holdings weight is 23.99%. SPY's top 25 holdings weight is 51.74%.
| Rank | TLTE | SPY |
|---|---|---|
| #1 | n/a (n/a) - 5.87% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | SAMSUNG ELECTRONICS CO LTD (n/a) - 4.54% | APPLE INC (AAPL) - 7.37% |
| #3 | SK HYNIX INC (n/a) - 2.52% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | TENCENT HOLDINGS LTD (n/a) - 1.68% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | n/a (n/a) - 1.20% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | CHINA CONSTRUCTION BANK CORP CLASS H (n/a) - 0.74% | BROADCOM INC (AVGO) - 2.86% |
| #7 | PDD HOLDINGS INC ADR (PDD) - 0.55% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | HON HAI PRECISION INDUSTRY CO LTD (n/a) - 0.55% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | n/a (n/a) - 0.54% | TESLA INC (TSLA) - 1.70% |
| #10 | n/a (n/a) - 0.52% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | RELIANCE INDUSTRIES LTD (n/a) - 0.46% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | CASH (n/a) - 0.42% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | VALE SA (n/a) - 0.40% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | HDFC BANK LTD (n/a) - 0.39% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | DELTA ELECTRONICS INC (n/a) - 0.37% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | BANK OF CHINA LTD CLASS H (n/a) - 0.35% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | HYUNDAI MOTOR CO (n/a) - 0.35% | VISA INC CLASS A (V) - 0.90% |
| #18 | MEDIATEK INC (n/a) - 0.35% | WALMART INC (WMT) - 0.76% |
| #19 | n/a (n/a) - 0.35% | INTEL CORP (INTC) - 0.75% |
| #20 | n/a (n/a) - 0.33% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | INTERNATIONAL HOLDINGS CO PJSC (n/a) - 0.33% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | XIAOMI CORP CLASS B (n/a) - 0.30% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | n/a (n/a) - 0.30% | ABBVIE INC (ABBV) - 0.66% |
| #24 | HD CONSTRUCTION EQUIPMENT (n/a) - 0.29% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | ICICI BANK LTD (n/a) - 0.29% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 2463 | 505 |
TLTE vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
TLTE
-7.47%
Winner
SPY
+0.52%
3M
TLTE
+2.53%
Winner
SPY
+6.55%
6M
TLTE
+9.59%
Winner
SPY
+9.76%
1Y
Winner
TLTE
+28.82%
SPY
+20.32%
5Y(CAGR)
TLTE
+7.45%
Winner
SPY
+13.01%
10Y(CAGR)
TLTE
+8.35%
Winner
SPY
+15.06%
Max(CAGR)
TLTE
+5.63%
Winner
SPY
+8.50%
TLTE vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TLTE | SPY |
|---|---|---|
| 2026 | +14.93% | +10.11% |
| 2025 | +30.52% | +18.00% |
| 2024 | +4.53% | +25.59% |
| 2023 | +12.92% | +26.72% |
| 2022 | -17.88% | -18.64% |
| 2021 | +3.78% | +30.52% |
| 2020 | +10.36% | +17.28% |
| 2019 | +14.45% | +31.09% |
| 2018 | -19.05% | -5.24% |
| 2017 | +31.58% | +20.78% |
| 2016 | +15.54% | +13.59% |
| 2015 | -12.45% | +1.31% |
| 2014 | -2.23% | +14.56% |
| 2013 | -4.39% | +29.00% |
| 2012 | +6.36% | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
TLTE vs SPY Drawdown Comparison
The maximum drawdown for TLTE was -44.20%, occurring on Mar 23, 2020. Recovery took 743 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TLTE drawdown is -7.47%. The current SPY drawdown is -1.24%.
| Rank | TLTE | SPY |
|---|---|---|
| #1 | -44.20% Jan 26, 2018 - Jan 8, 2021 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -33.82% Sep 5, 2014 - Jun 2, 2017 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -33.49% Jun 4, 2021 - Jun 9, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -16.76% Jan 3, 2013 - Jul 3, 2014 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -13.04% Feb 25, 2026 - May 1, 2026 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -9.77% Jun 22, 2026 - Jul 20, 2026 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -8.01% Jun 2, 2026 - Jun 18, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -6.42% Feb 17, 2021 - Apr 26, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -5.46% May 8, 2026 - May 26, 2026 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.41% Jan 21, 2021 - Feb 8, 2021 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -4.44% Oct 29, 2025 - Dec 26, 2025 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -4.43% May 7, 2021 - May 28, 2021 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.40% Nov 22, 2017 - Dec 27, 2017 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.15% Oct 17, 2012 - Dec 5, 2012 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -3.94% Oct 6, 2025 - Oct 20, 2025 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TLTE and SPY is 0.89 which considered as a strong positive correlation - the stocks tend to move together.
0.89
-101
Dividend Comparison (1999 - 2026)
TLTE vs SPY dividend yield comparison.
| Year | TLTE | SPY |
|---|---|---|
| 2026 | 0.37% | 0.49% |
| 2025 | 3.76% | 1.07% |
| 2024 | 3.73% | 1.21% |
| 2023 | 4.03% | 1.40% |
| 2022 | 4.42% | 1.65% |
| 2021 | 3.21% | 1.20% |
| 2020 | 1.95% | 1.52% |
| 2019 | 3.23% | 1.75% |
| 2018 | 3.02% | 2.04% |
| 2017 | 2.12% | 1.80% |
| 2016 | 2.30% | 2.03% |
| 2015 | 2.00% | 2.06% |
| 2014 | 2.06% | 1.87% |
| 2013 | 0.83% | 1.81% |
| 2012 | 0.10% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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