TMSL vs SPY
Comparison between T. ROWE PRICE SMALL-MID CAP ETF (TMSL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
TMSL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
TMSL
$1.60B
Winner
SPY
$652B
Expense Ratio
TMSL
0.55%
Winner
SPY
0.09%
Max Drawdown
Winner
TMSL
24.72%
SPY
56.47%
Sharpe Ratio
TMSL
1.66
Winner
SPY
2.07
5Y Beta
TMSL
1.04
Winner
SPY
1.00
P/E Ratio
TMSL
32.54
Winner
SPY
28.24
Forward P/E
Winner
TMSL
16.03
SPY
21.85
5Y Dividends CAGR
TMSL
N/A
SPY
5.43%
5Y EPS CAGR
TMSL
14.88%
Winner
SPY
25.79%
Debt to Equity
Winner
TMSL
19.43%
SPY
22.35%
P/S Ratio
Winner
TMSL
1.45
SPY
3.55
P/B Ratio
Winner
TMSL
2.98
SPY
5.29
TMSL vs SPY - Holdings Comparison
TMSL and SPY have 44 common holdings. Overlap is 1.75%
TMSL's top 25 holdings weight is 21.69%. SPY's top 25 holdings weight is 51.32%.
| Rank | TMSL | SPY |
|---|---|---|
| #1 | SANDISK CORP ORDINARY SHARES (SNDK) - 1.90% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | POPULAR INC (BPOP) - 1.16% | APPLE INC (AAPL) - 6.48% |
| #3 | TECHNIPFMC PLC (n/a) - 1.05% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | TELEDYNE TECHNOLOGIES INC (TDY) - 1.01% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | API GROUP CORP (APG) - 1.00% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | CIENA CORP (CIEN) - 1.00% | BROADCOM INC (AVGO) - 3.09% |
| #7 | TENET HEALTHCARE CORP (THC) - 0.97% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | THE MIDDLEBY CORP (MIDD) - 0.93% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | EAST WEST BANCORP INC (EWBC) - 0.91% | TESLA INC (TSLA) - 1.73% |
| #10 | MKS INC (MKSI) - 0.90% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | PERMIAN RESOURCES CORP CLASS A (PR) - 0.90% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | NVENT ELECTRIC PLC (NVT) - 0.89% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | STONEX GROUP INC (SNEX) - 0.88% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | RAMBUS INC (RMBS) - 0.86% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | CORPAY INC (CPAY) - 0.81% | WALMART INC (WMT) - 0.91% |
| #16 | AXIS CAPITAL HOLDINGS LTD (AXS) - 0.81% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | RELIANCE INC (RS) - 0.80% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | FABRINET (FN) - 0.80% | VISA INC CLASS A (V) - 0.85% |
| #19 | n/a (WFRD) - 0.79% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | TEXTRON INC (TXT) - 0.79% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | JABIL INC (JBL) - 0.52% | INTEL CORP (INTC) - 0.65% |
| #22 | ENCOMPASS HEALTH CORP (EHC) - 0.51% | NETFLIX INC (NFLX) - 0.64% |
| #23 | CURTISS-WRIGHT CORP (CW) - 0.50% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | MAREX GROUP PLC (MRX) - 0.50% | CHEVRON CORP (CVX) - 0.58% |
| #25 | FIRST BANCORP (FBP) - 0.50% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 244 | 505 |
TMSL vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
TMSL
+6.32%
Winner
SPY
+9.11%
3M
TMSL
+4.38%
Winner
SPY
+6.59%
6M
Winner
TMSL
+18.75%
SPY
+10.56%
1Y
Winner
TMSL
+34.26%
SPY
+32.04%
5Y(CAGR)
TMSL
N/A
SPY
+13.35%
10Y(CAGR)
TMSL
N/A
SPY
+15.49%
Max(CAGR)
Winner
TMSL
+18.98%
SPY
+8.50%
TMSL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | TMSL | SPY |
|---|---|---|
| 2026 | +13.04% | +8.27% |
| 2025 | +12.04% | +18.00% |
| 2024 | +16.39% | +25.59% |
| 2023 | +11.22% | +26.72% |
| 2022 | N/A | -18.64% |
| 2021 | N/A | +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% |
TMSL vs SPY Drawdown Comparison
The maximum drawdown for TMSL was -24.39%, occurring on Apr 8, 2025. Recovery took 193 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current TMSL drawdown is -0.63%.
| Rank | TMSL | SPY |
|---|---|---|
| #1 | -24.39% Nov 25, 2024 - Sep 5, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -13.22% Jul 31, 2023 - Dec 13, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -11.19% Feb 26, 2026 - Apr 17, 2026 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -8.33% Jul 16, 2024 - Sep 19, 2024 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -7.68% Mar 28, 2024 - Jul 15, 2024 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -6.69% Oct 27, 2025 - Nov 28, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -4.03% Sep 18, 2025 - Oct 23, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -3.76% Nov 11, 2024 - Nov 22, 2024 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -3.27% Dec 27, 2023 - Jan 22, 2024 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -3.18% Dec 11, 2025 - Jan 6, 2026 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -2.93% Oct 17, 2024 - Nov 6, 2024 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -2.59% Apr 20, 2026 - May 5, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -2.56% Jun 15, 2023 - Jun 29, 2023 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -2.28% Feb 12, 2024 - Feb 15, 2024 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -2.16% Jan 21, 2026 - Feb 6, 2026 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between TMSL and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
TMSL vs SPY dividend yield comparison.
| Year | TMSL | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 0.57% | 1.07% |
| 2024 | 0.44% | 1.21% |
| 2023 | 0.34% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 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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