BLDG vs SPY
Cambria Global Real Estate 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 | BLDG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $55M | $821.1B | |
| Dividend Yield | 5.17% | 1.01% | |
| Holdings | 83 | 505 | |
| YTD Return | +9.96% | +13.17% | |
| 1Y Return | +10.28% | +21.53% | |
| 3Y Return (annualized) | +10.25% | +22.06% | |
| 5Y Return (annualized) | +3.18% | +13.35% | |
| Volatility (annualized) | 15.8% | 15.3% | |
| Max Drawdown | -27.3% | -56.5% | |
| Fund Family | Cambria Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 24, 2020 | Jan 22, 1993 |
BLDG vs SPY Performance
Cambria Global Real Estate ETF (BLDG) is a ETF from Cambria Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BLDG returned +10.28% while SPY returned +21.53%. Year to date, BLDG is up 9.96% versus a gain of 13.17% for SPY.
Over three years, BLDG compounded at +10.25% per year against +22.06% for SPY; over five years the annualized figures are +3.18% and +13.35% respectively. Across the full 6-year window we track, SPY has the edge at +8.82% annualized vs +7.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BLDG has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -27.3% for BLDG 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BLDG charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, BLDG currently yields 5.17% against 1.01% for SPY.
Holdings Overlap
BLDG and SPY share 5 holdings out of 577 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BLDG or SPY?
BLDG has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, BLDG or SPY?
Over the past year BLDG returned +10.28% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), BLDG annualized +7.38% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, BLDG or SPY?
BLDG has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: BLDG -27.3% vs SPY -56.5%.
Should I hold both BLDG and SPY?
BLDG and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BLDG and SPY?
BLDG and SPY share 5 common holdings with a 0.3% weight overlap. Combined, they hold 577 unique securities.
Which pays a higher dividend, BLDG or SPY?
BLDG yields 5.17% while SPY yields 1.01%, so BLDG currently pays the higher dividend yield.
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