SPYT vs BALI: Income Fund Comparison
Defiance S&P 500 Income Target ETF - US (SPYT) and iShares U.S. Large Cap Premium Income Active ETF - US (BALI) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: SPYT individual review · BALI individual review
SPYT: Expense ratio is 0.87%. BALI: Net expense ratio is 0.35%. SPYT the fund was established March 7 2024 - just over 2 years of history. BALI fund inception date was September 26 2023 - approximately 2 years and 5 months old as of review date. Full Dependability and Return scores for both funds are available in the app.
| SPYT | BALI | |
|---|---|---|
| Fund Name | Defiance S&P 500 Income Target ETF - US | iShares U.S. Large Cap Premium Income Active ETF - US |
| Fund Type | Index Based Fund | Diversified Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2026-04-07 | 2026-03-06 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: SPYT vs BALI 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
Expense ratio is 0.87%.
Net expense ratio is 0.35%.
Defiance ETFs manages approximately $7.32 billion across its ETF suite.
BlackRock reported $14 trillion in AUM for full year 2025 - world's largest asset manager.
The fund was established March 7 2024 - just over 2 years of history.
Fund inception date was September 26 2023 - approximately 2 years and 5 months old as of review date.
Net assets are approximately $138 million.
Fund net assets are approximately $843 million per iShares product page.
Risk: SPYT vs BALI 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Beta is 1.0154 vs SPY over the data series from 2024-03-15 to 2026-03-28 - in line with the market. Standalone volatility is 14.23% annualized (weekly total returns) - low to moderate price choppiness.
Beta is 0.87 vs SPY over the period 2023-10-06 to 2026-03-06 (fund history). Standalone annualized volatility is 12.64% from weekly total return data series - low-to-moderate. Both beta and standalone volatility score at 4.
See the full Risk analysis for both SPYT and BALI — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: SPYT vs BALI 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Monthly distributions confirmed by distribution history.
Fund pays monthly distributions - confirmed from 29 payments in data series since inception in September 2023.
See the full Return analysis for both SPYT and BALI — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both SPYT and BALI are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: SPYT vs BALI
Which has a lower expense ratio, SPYT or BALI?
SPYT: Expense ratio is 0.87%.
BALI: Net expense ratio is 0.35%.
Which fund has more assets under management, SPYT or BALI?
SPYT: Net assets are approximately $138 million.
BALI: Fund net assets are approximately $843 million per iShares product page.
Which fund has been trading longer, SPYT or BALI?
SPYT: The fund was established March 7 2024 - just over 2 years of history.
BALI: Fund inception date was September 26 2023 - approximately 2 years and 5 months old as of review date.
Who manages SPYT vs BALI?
SPYT: Defiance ETFs manages approximately $7.32 billion across its ETF suite.
BALI: BlackRock reported $14 trillion in AUM for full year 2025 - world's largest asset manager.
Where can I see the full SPYT vs BALI comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between SPYT and BALI?
Defiance S&P 500 Income Target ETF - US is a Index Based Fund. Expense ratio is 0.87%. iShares U.S. Large Cap Premium Income Active ETF - US is a Diversified Fund. Net expense ratio is 0.35%. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, SPYT or BALI?
SPYT: Expense ratio is 0.87%. The fund was established March 7 2024 - just over 2 years of history. BALI: Net expense ratio is 0.35%. Fund inception date was September 26 2023 - approximately 2 years and 5 months old as of review date. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do SPYT and BALI pay monthly distributions?
SPYT: Monthly distributions confirmed by distribution history. BALI: Fund pays monthly distributions - confirmed from 29 payments in data series since inception in September 2023. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full SPYT vs BALI Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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