BGR vs SPY
BlackRock Energy and Resources Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, BGR or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. BGR led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 70.8%.
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 | BGR | SPY |
|---|---|---|
| Expense Ratio | 1.11% | 0.09%Best |
| AUM | $497M | $804.7B |
| Dividend Yield | 6.09% | 0.98% |
| Holdings | 30 | 505 |
| YTD Return | +30.51%Best | +12.99% |
| 1Y Return | +37.95%Best | +16.73% |
| 3Y Return (annualized) | +17.70% | +22.52%Best |
| 5Y Return (annualized) | +20.93%Best | +13.07% |
| Volatility (annualized) | 25.6% | 14.8%Best |
| Max Drawdown | -87.7% | -56.5%Best |
| $10,000 over 5 years | $25,862Best | $18,481 |
| Top 10 Weight | 70.8% | 37.8%Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Dec 23, 2004 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 23, 2004 to Sep 23, 2026 (21.7 years).
BGR 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 21.7 years both funds cover.
BGR vs SPY Performance
BlackRock Energy and Resources Trust (BGR) 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 BGR returned +37.95% while SPY returned +16.73%. Year to date, BGR is up 30.51% versus a gain of 12.99% for SPY.
Over three years, BGR compounded at +17.70% per year against +22.52% for SPY; over five years the annualized figures are +20.93% and +13.07% respectively. Across the full 22-year window we track, SPY has the edge at +9.25% annualized vs -0.06%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BGR has been the more volatile fund, with annualized monthly volatility of 25.6% compared with 14.8% 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 -87.7% for BGR and -56.5% 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 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BGR charges 1.11% per year while SPY charges 0.09%. On a $10,000 position that is $111 vs $9 annually, a gap of $102 per year that compounds over a long holding period. On income, BGR currently yields 6.09% against 0.98% for SPY.
Holdings Overlap
53.8% of BGR's money is in holdings SPY also owns. 2.6% of SPY's money is in holdings BGR also owns.
The two portfolios partly overlap.
The two holdings books were reported 63 days apart, BGR as of Jun 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
9 positions in common, counted across the 30 positions we hold weights for in BGR and 504 in SPY, against full books of 30 and 505.
What only one of them owns
Our book lists 488 positions for SPY that do not appear in our book for BGR (96.7% of the fund), and 6 for BGR that do not appear in SPY (17.6%).
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 BGR | Weight in SPY | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp. | 18.64% | 1.04% | 17.60% |
| CVXChevron Corp | 10.85% | 0.60% | 10.25% |
| WMBWilliams Cos. Inc. | 4.66% | 0.14% | 4.52% |
| VLOValero Energy | 4.62% | 0.16% | 4.46% |
| TRGPTarga Resources Corp Preferred | 4.43% | 0.10% | 4.33% |
| COPConocophillips Common Stock USD 0.01 | 4.21% | 0.25% | 3.96% |
| MPCMarathon Petroleum Corp | 3.36% | 0.17% | 3.19% |
| KMIKinder Morgan Inc./de | 1.86% | 0.10% | 1.76% |
| EQTEQT Corp. | 1.17% | 0.05% | 1.12% |
53.8% of BGR 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, BGR or SPY?
BGR has an expense ratio of 1.11% while SPY charges 0.09%. SPY is the cheaper option, by $102 a year on a $10,000 investment.
Which performed better, BGR or SPY?
Over the past year BGR returned +37.95% vs +16.73% for SPY, so BGR leads on 1-year performance. Over the longest common window we track (22 years), BGR annualized -0.06% vs +9.25% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BGR or SPY?
BGR has been the more volatile fund at 25.6% annualized versus 14.8% for SPY. Worst drawdown: BGR -87.7% vs SPY -56.5%.
Should I hold both BGR and SPY?
BGR and SPY have a monthly-return correlation of 0.60, 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 BGR and SPY?
53.8% of BGR's money is in holdings SPY also owns. 2.6% of SPY's is in holdings BGR also owns. They hold 9 positions in common, counted across the 30 positions we hold weights for in BGR and 504 in SPY.
Which pays a higher dividend, BGR or SPY?
BGR yields 6.09% while SPY yields 0.98%, so BGR currently pays the higher dividend yield.
Is SPY better than BGR?
SPY has a lower expense ratio. BGR led over 1Y and 5Y, SPY over 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 70.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.