BBHM vs SPY
BBH Select Mid Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BBHM or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 43.1%.
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 | BBHM | SPY |
|---|---|---|
| Expense Ratio | 0.81% | 0.09%Best |
| AUM | $357M | $777.9B |
| Dividend Yield | 0.00% | 1.00% |
| Holdings | 30 | 1,011 |
| YTD Return | +7.33% | +12.09%Best |
| 1Y Return | +11.35% | +12.45%Best |
| 3Y Return (annualized) | - | +21.45% |
| 5Y Return (annualized) | - | +11.87% |
| Volatility (annualized) | 15.8% | 13.3%Best |
| Top 10 Weight | 43.1% | 38.9%Best |
| Fund Family | Brown Brothers Harriman | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Nov 17, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
BBHM 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BBHM vs SPY Performance
BBH Select Mid Cap ETF (BBHM) is an ETF from Brown Brothers Harriman and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BBHM returned +11.35% while SPY returned +12.45%. Year to date, BBHM is up 7.33% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BBHM has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 13.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BBHM charges 0.81% per year while SPY charges 0.09%. On a $10,000 position that is $81 vs $9 annually, a gap of $72 per year that compounds over a long holding period. On income, BBHM currently yields 0.00% against 1.00% for SPY.
Holdings Overlap
32.5% of BBHM's money is in holdings SPY also owns. 0.7% of SPY's money is in holdings BBHM also owns.
The two portfolios partly overlap.
10 positions in common, counted across the 30 positions we hold weights for in BBHM and 504 in SPY, against full books of 30 and 1,011.
What only one of them owns
Our book lists 489 positions for SPY that do not appear in our book for BBHM (99.0% of the fund), and 19 for BBHM that do not appear in SPY (63.9%).
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 BBHM | Weight in SPY | Difference |
|---|---|---|---|
| CBRECbre Group Inc. Class A | 4.14% | 0.06% | 4.08% |
| ANETArista Networks Inc Common Stock | 3.88% | 0.31% | 3.57% |
| WSTWest Pharmaceutical Services Inc | 3.67% | 0.04% | 3.63% |
| BRBroadridge Financial Solutions, Inc. | 3.63% | 0.03% | 3.60% |
| KEYSKeysight Technologies Inc. | 3.55% | 0.09% | 3.46% |
| VMCVulcan Materials Co. | 3.47% | 0.05% | 3.42% |
| BROBrown & Brown Inc | 2.93% | 0.03% | 2.90% |
| HUBBHubbell Inc. Class B | 2.92% | 0.04% | 2.88% |
| TTWOTake-Two Interactive Software, Inc. | 2.90% | 0.05% | 2.85% |
| ZBRAZebra Technologies Corp | 1.39% | 0.03% | 1.36% |
32.5% of BBHM 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, BBHM or SPY?
BBHM has an expense ratio of 0.81% while SPY charges 0.09%. SPY is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, BBHM or SPY?
Over the past year BBHM returned +11.35% vs +12.45% 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, BBHM or SPY?
BBHM has been the more volatile fund at 15.8% annualized versus 13.3% for SPY.
Should I hold both BBHM and SPY?
BBHM and SPY have a monthly-return correlation of 0.47, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BBHM and SPY?
32.5% of BBHM's money is in holdings SPY also owns. 0.7% of SPY's is in holdings BBHM also owns. They hold 10 positions in common, counted across the 30 positions we hold weights for in BBHM and 504 in SPY.
Which pays a higher dividend, BBHM or SPY?
BBHM yields 0.00% while SPY yields 1.00%, so SPY currently pays the higher dividend yield.
Is SPY better than BBHM?
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 43.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.