BBRE vs SPY
JPMorgan BetaBuilders MSCI US REIT ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BBRE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.11% | 0.09% | |
| AUM | $1.3B | $789.1B | |
| Dividend Yield | 3.10% | 1.01% | |
| Holdings | 111 | 505 | |
| YTD Return | +16.35% | +13.75% | |
| 1Y Return | +21.33% | +22.91% | |
| 3Y Return (annualized) | +11.43% | +21.67% | |
| 5Y Return (annualized) | +4.57% | +13.32% | |
| Volatility (annualized) | 18.9% | 15.3% | |
| Max Drawdown | -43.6% | -56.5% | |
| Fund Family | J.P. Morgan Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 15, 2018 | Jan 22, 1993 |
BBRE vs SPY Performance
JPMorgan BetaBuilders MSCI US REIT ETF (BBRE) is a ETF from J.P. Morgan Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BBRE returned +21.33% while SPY returned +22.91%. Year to date, BBRE is up 16.35% versus a gain of 13.75% for SPY.
Over three years, BBRE compounded at +11.43% per year against +21.67% for SPY; over five years the annualized figures are +4.57% and +13.32% respectively. Across the full 8-year window we track, SPY has the edge at +8.85% annualized vs +6.40%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BBRE has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.3% for SPY. 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 -43.6% for BBRE and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BBRE charges 0.11% per year while SPY charges 0.09%. On a $10,000 position that is $11 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, BBRE currently yields 3.10% against 1.01% for SPY.
Holdings Overlap
BBRE and SPY share 25 holdings out of 585 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BBRE or SPY?
BBRE has an expense ratio of 0.11% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, BBRE or SPY?
Over the past year BBRE returned +21.33% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), BBRE annualized +6.40% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BBRE or SPY?
BBRE has been the more volatile fund at 18.9% annualized versus 15.3% for SPY. Worst drawdown: BBRE -43.6% vs SPY -56.5%.
Should I hold both BBRE and SPY?
BBRE and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BBRE and SPY?
BBRE and SPY share 25 common holdings with a 1.5% weight overlap. Combined, they hold 585 unique securities.
Which pays a higher dividend, BBRE or SPY?
BBRE yields 3.10% while SPY yields 1.01%, so BBRE currently pays the higher dividend yield.
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