TMAT vs SPY
Comparison between MAIN THEMATIC INNOVATION ETF (TMAT, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed TMAT, delivering a return of +13.0% compared to +4.6%
TMAT vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TMAT
$255M
Winner
SPY
$781B
Expense Ratio
TMAT
0.82%
Winner
SPY
0.09%
Max Drawdown
TMAT
58.64%
Winner
SPY
56.47%
Sharpe Ratio
TMAT
0.60
Winner
SPY
1.25
5Y Beta
TMAT
1.54
Winner
SPY
1.00
P/E Ratio
TMAT
51.26
Winner
SPY
28.78
Forward P/E
TMAT
23.97
Winner
SPY
21.23
5Y Dividends CAGR
TMAT
N/A
SPY
6.00%
5Y EPS CAGR
TMAT
20.59%
Winner
SPY
25.62%
Debt to Equity
TMAT
N/A
SPY
31.92%
P/S Ratio
TMAT
3.82
Winner
SPY
3.76
P/B Ratio
TMAT
7.27
Winner
SPY
5.64
TMAT vs SPY - Holdings Comparison
TMAT and SPY have 40 common holdings. Overlap is 7.40%
TMAT's top 25 holdings weight is 52.31%. SPY's top 25 holdings weight is 51.74%.
| Rank | TMAT | SPY |
|---|---|---|
| #1 | MICRON TECHNOLOGY INC (MU) - 5.31% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | PALO ALTO NETWORKS INC (PANW) - 4.02% | APPLE INC (AAPL) - 7.37% |
| #3 | VICOR CORP (VICR) - 3.47% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | CROWDSTRIKE HOLDINGS INC CLASS A (CRWD) - 2.43% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | FORTINET INC (FTNT) - 2.28% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | CLEAR SECURE INC ORDINARY SHARES CLASS A (YOU) - 2.22% | BROADCOM INC (AVGO) - 2.86% |
| #7 | LUMENTUM HOLDINGS INC (LITE) - 2.21% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | AAON INC (AAON) - 2.17% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | ADVANCED MICRO DEVICES INC (AMD) - 2.10% | TESLA INC (TSLA) - 1.70% |
| #10 | n/a (HNGE) - 2.06% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | BLACKBERRY LTD (BB) - 2.03% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | KEYSIGHT TECHNOLOGIES INC (KEYS) - 1.87% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | TERADYNE INC (TER) - 1.81% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | RUBRIK INC CLASS A SHARES (RBRK) - 1.77% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | VARONIS SYSTEMS INC (VRNS) - 1.59% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | SEAGATE TECHNOLOGY HOLDINGS PLC (STX) - 1.57% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | GENERAC HOLDINGS INC (GNRC) - 1.57% | VISA INC CLASS A (V) - 0.90% |
| #18 | MARVELL TECHNOLOGY INC (MRVL) - 1.53% | WALMART INC (WMT) - 0.76% |
| #19 | VERACYTE INC (VCYT) - 1.53% | INTEL CORP (INTC) - 0.75% |
| #20 | VERTIV HOLDINGS CO CLASS A (VRT) - 1.50% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | WESTERN DIGITAL CORP (WDC) - 1.48% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | ADVANCED ENERGY INDUSTRIES INC (AEIS) - 1.47% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | MYR GROUP INC (MYRG) - 1.47% | ABBVIE INC (ABBV) - 0.66% |
| #24 | GE VERNOVA INC (GEV) - 1.43% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | CLOUDFLARE INC (NET) - 1.42% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 88 | 505 |
TMAT vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
TMAT
-6.07%
Winner
SPY
+0.52%
3M
Winner
TMAT
+11.43%
SPY
+6.55%
6M
Winner
TMAT
+15.47%
SPY
+9.76%
1Y
TMAT
+18.05%
Winner
SPY
+20.32%
5Y(CAGR)
TMAT
+4.62%
Winner
SPY
+13.01%
10Y(CAGR)
TMAT
N/A
SPY
+15.06%
Max(CAGR)
TMAT
+3.05%
Winner
SPY
+8.50%
TMAT vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TMAT | SPY |
|---|---|---|
| 2026 | +14.63% | +10.11% |
| 2025 | +18.16% | +18.00% |
| 2024 | +30.39% | +25.59% |
| 2023 | +32.08% | +26.72% |
| 2022 | -39.69% | -18.64% |
| 2021 | -17.01% | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +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% |
TMAT vs SPY Drawdown Comparison
The maximum drawdown for TMAT was -58.55%, occurring on Oct 14, 2022. Recovery took 1155 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TMAT drawdown is -7.86%. The current SPY drawdown is -1.24%.
| Rank | TMAT | SPY |
|---|---|---|
| #1 | -58.55% Feb 12, 2021 - Sep 19, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -21.63% Oct 9, 2025 - May 26, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -10.39% Jun 2, 2026 - Jun 30, 2026 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -9.93% Jun 30, 2026 - Jul 20, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -3.88% Sep 22, 2025 - Oct 6, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -1.55% May 26, 2026 - May 29, 2026 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -1.35% Oct 6, 2025 - Oct 8, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -0.46% Feb 10, 2021 - Feb 12, 2021 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | N/A | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | N/A | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | N/A | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | N/A | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | N/A | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | N/A | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | N/A | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TMAT and SPY is 0.68 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.68
-101
Dividend Comparison (1999 - 2026)
TMAT vs SPY dividend yield comparison.
| Year | TMAT | SPY |
|---|---|---|
| 2026 | 0.00% | 0.49% |
| 2025 | 0.02% | 1.07% |
| 2024 | 0.00% | 1.21% |
| 2023 | 0.00% | 1.40% |
| 2022 | 0.34% | 1.65% |
| 2021 | 0.20% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 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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