BALI vs SPY
iShares US Large Cap Premium Income Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BALI or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. BALI is less concentrated, with 34.9% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BALI | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $1.4B | $804.7B |
| Dividend Yield | 7.65% | 0.98% |
| Holdings | 206 | 505 |
| YTD Return | +10.40% | +11.52%Best |
| 1Y Return | +15.37% | +17.48%Best |
| 3Y Return (annualized) | +19.64% | +20.62%Best |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 10.4%Best | 12.5% |
| Max Drawdown | -16.6%Best | -18.8% |
| $10,000 over 3 years | $17,125 | $18,473Best |
| Top 10 Weight | 34.9%Best | 38.0% |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 26, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 28, 2023 to Sep 10, 2026 (3 years).
BALI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
BALI vs SPY Performance
iShares US Large Cap Premium Income Active ETF (BALI) is an ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BALI returned +15.37% while SPY returned +17.48%. Year to date, BALI is up 10.40% versus a gain of 11.52% for SPY.
Over three years, BALI compounded at +19.64% per year against +20.62% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 10.4% for BALI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.6% for BALI and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BALI charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, BALI currently yields 7.65% against 0.98% for SPY.
Holdings Overlap
87.6% of BALI's money is in holdings SPY also owns. 66.6% of SPY's money is in holdings BALI also owns.
Most of BALI is already inside SPY. Owning both mostly buys the same companies twice.
116 positions in common, counted across the 199 positions we hold weights for in BALI and 504 in SPY, against full books of 206 and 505.
What only one of them owns
Our book lists 378 positions for SPY that do not appear in our book for BALI (32.9% of the fund), and 79 for BALI that do not appear in SPY (11.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BALI | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.68% | 7.71% | 1.03% |
| AAPLApple, Inc | 6.46% | 6.83% | 0.37% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.67% | 5.50% | 0.83% |
| AMZNAmazon.Com Inc | 3.16% | 4.08% | 0.92% |
| GOOGLAlphabet A Usd 0.001 | 2.66% | 3.33% | 0.67% |
| AVGOBroadcom Inc | 2.33% | 2.97% | 0.64% |
| GOOGAlphabet Inc | 2.31% | 2.67% | 0.36% |
| METAMeta Platforms, Inc. | 1.56% | 1.94% | 0.38% |
| MUMicron Technology, Inc. | 1.41% | 1.51% | 0.10% |
| BRK.BBerkshire Hathaway B | 1.41% | 1.42% | 0.01% |
87.6% of BALI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BALI or SPY?
BALI has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, BALI or SPY?
Over the past year BALI returned +15.37% vs +17.48% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BALI or SPY?
SPY has been the more volatile fund at 12.5% annualized versus 10.4% for BALI. Worst drawdown: BALI -16.6% vs SPY -18.8%.
Should I hold both BALI and SPY?
BALI and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BALI and SPY?
87.6% of BALI's money is in holdings SPY also owns. 66.6% of SPY's is in holdings BALI also owns. They hold 116 positions in common, counted across the 199 positions we hold weights for in BALI and 504 in SPY.
Which pays a higher dividend, BALI or SPY?
BALI yields 7.65% while SPY yields 0.98%, so BALI currently pays the higher dividend yield.
Is SPY better than BALI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.98. BALI is less concentrated, with 34.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.