BGX vs SPY
Blackstone Long-Short Credit Income Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, BGX or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | BGX | SPY |
|---|---|---|
| Expense Ratio | 2.77% | 0.09%Best |
| AUM | $156M | $804.7B |
| Dividend Yield | 7.92% | 0.98% |
| Holdings | 592 | 505 |
| YTD Return | -3.62% | +12.47%Best |
| 1Y Return | -7.50% | +17.51%Best |
| 3Y Return (annualized) | +6.62% | +21.18%Best |
| 5Y Return (annualized) | +2.09% | +12.88%Best |
| Volatility (annualized) | 12.9%Best | 14.2% |
| Max Drawdown | -58.0% | -34.1%Best |
| $10,000 over 5 years | $11,090 | $18,327Best |
| Fund Family | The Blackstone Group Inc | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Jan 27, 2011 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 27, 2011 to Sep 11, 2026 (15.6 years).
BGX 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.
BGX vs SPY Performance
Blackstone Long-Short Credit Income Fund (BGX) is an ETF from The Blackstone Group Inc and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BGX returned -7.50% while SPY returned +17.51%. Year to date, BGX is down 3.62% versus a gain of 12.47% for SPY.
Over three years, BGX compounded at +6.62% per year against +21.18% for SPY; over five years the annualized figures are +2.09% and +12.88% respectively. Across the full 16-year window we track, SPY has the edge at +12.54% annualized vs -0.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 12.9% for BGX. 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 -58.0% for BGX and -34.1% 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 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BGX charges 2.77% per year while SPY charges 0.09%. On a $10,000 position that is $277 vs $9 annually, a gap of $268 per year that compounds over a long holding period. On income, BGX currently yields 7.92% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 324 holdings in BGX and 504 in SPY, totalling 59.3% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 216 days apart, BGX as of Dec 31, 2025 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 324 positions we hold weights for in BGX and 504 in SPY, against full books of 592 and 505.
You are not choosing between two funds in isolation.
Whichever of BGX and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BGX or SPY?
BGX has an expense ratio of 2.77% while SPY charges 0.09%. SPY is the cheaper option, by $268 a year on a $10,000 investment.
Which performed better, BGX or SPY?
Over the past year BGX returned -7.50% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), BGX annualized -0.91% vs +12.54% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BGX or SPY?
SPY has been the more volatile fund at 14.2% annualized versus 12.9% for BGX. Worst drawdown: BGX -58.0% vs SPY -34.1%.
Should I hold both BGX and SPY?
BGX and SPY have a monthly-return correlation of 0.63, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BGX or SPY?
BGX yields 7.92% while SPY yields 0.98%, so BGX currently pays the higher dividend yield.
Is SPY better than BGX?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.