BDVL vs SPY
iShares Disciplined Volatility Equity Active 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 | BDVL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $1.7B | $789.1B | |
| Dividend Yield | 3.53% | 1.01% | |
| Holdings | 613 | 505 | |
| YTD Return | +9.14% | +13.39% | |
| 1Y Return | +11.18% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -7.7% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 12, 2025 | Jan 22, 1993 |
BDVL vs SPY Performance
iShares Disciplined Volatility Equity Active ETF (BDVL) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BDVL returned +11.18% while SPY returned +22.52%. Year to date, BDVL is up 9.14% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -7.7% for BDVL and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
BDVL charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, BDVL currently yields 3.53% against 1.01% for SPY.
Holdings Overlap
BDVL and SPY share 180 holdings out of 810 unique holdings combined, representing a 28.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BDVL or SPY?
BDVL has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, BDVL or SPY?
Over the past year BDVL returned +11.18% vs +22.52% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between BDVL and SPY?
BDVL and SPY share 180 common holdings with a 28.5% weight overlap. Combined, they hold 810 unique securities.
Which pays a higher dividend, BDVL or SPY?
BDVL yields 3.53% while SPY yields 1.01%, so BDVL currently pays the higher dividend yield.
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