BELT vs SPY
iShares US Select 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 505 holdings.
Side-by-Side Comparison
| Metric | BELT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $10M | $821.1B | |
| Dividend Yield | 0.02% | 1.01% | |
| Holdings | 20 | 505 | |
| YTD Return | +18.04% | +12.68% | |
| 1Y Return | +21.13% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 18.8% | 15.3% | |
| Max Drawdown | -23.1% | -56.5% | |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 17, 2024 | Jan 22, 1993 |
BELT vs SPY Performance
iShares US Select Equity Active ETF (BELT) is a ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BELT returned +21.13% while SPY returned +21.82%. Year to date, BELT is up 18.04% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
BELT has been the more volatile fund, with annualized monthly volatility of 18.8% 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 -23.1% for BELT 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BELT charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, BELT currently yields 0.02% against 1.01% for SPY.
Holdings Overlap
BELT and SPY share 16 holdings out of 507 unique holdings combined, representing a 21.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BELT or SPY?
BELT has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, BELT or SPY?
Over the past year BELT returned +21.13% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), BELT annualized +13.53% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, BELT or SPY?
BELT has been the more volatile fund at 18.8% annualized versus 15.3% for SPY. Worst drawdown: BELT -23.1% vs SPY -56.5%.
Should I hold both BELT and SPY?
BELT and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between BELT and SPY?
BELT and SPY share 16 common holdings with a 21.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, BELT or SPY?
BELT yields 0.02% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.