BME vs SPY
BlackRock Health Sciences Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, BME or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. BME led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.5%.
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 | BME | SPY |
|---|---|---|
| Expense Ratio | 1.14% | 0.09%Best |
| AUM | $602M | $804.7B |
| Dividend Yield | 6.78% | 0.98% |
| Holdings | 159 | 505 |
| YTD Return | +14.65%Best | +12.99% |
| 1Y Return | +31.94%Best | +16.73% |
| 3Y Return (annualized) | +12.37% | +22.52%Best |
| 5Y Return (annualized) | +5.37% | +13.07%Best |
| Volatility (annualized) | 17.1% | 14.9%Best |
| Max Drawdown | -44.6%Best | -56.5% |
| $10,000 over 5 years | $12,989 | $18,481Best |
| Top 10 Weight | 51.5% | 37.8%Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 31, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 29, 2005 to Sep 23, 2026 (21.5 years).
BME 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 21.5 years both funds cover.
BME vs SPY Performance
BlackRock Health Sciences Trust (BME) 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 BME returned +31.94% while SPY returned +16.73%. Year to date, BME is up 14.65% versus a gain of 12.99% for SPY.
Over three years, BME compounded at +12.37% per year against +22.52% for SPY; over five years the annualized figures are +5.37% and +13.07% respectively. Across the full 22-year window we track, SPY has the edge at +9.55% annualized vs +4.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BME has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 14.9% 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 -44.6% for BME 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 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BME charges 1.14% per year while SPY charges 0.09%. On a $10,000 position that is $114 vs $9 annually, a gap of $105 per year that compounds over a long holding period. On income, BME currently yields 6.78% against 0.98% for SPY.
Holdings Overlap
70.3% of BME's money is in holdings SPY also owns. 8.4% of SPY's money is in holdings BME also owns.
Most of BME is already inside SPY. Owning both mostly buys the same companies twice.
The two holdings books were reported 63 days apart, BME 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.
38 positions in common, counted across the 133 positions we hold weights for in BME and 504 in SPY, against full books of 159 and 505.
What only one of them owns
Our book lists 460 positions for SPY that do not appear in our book for BME (90.9% of the fund), and 77 for BME that do not appear in SPY (19.5%).
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 BME | Weight in SPY | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 12.46% | 1.40% | 11.06% |
| JNJJohnson & Johnson - Common | 7.80% | 0.99% | 6.81% |
| UNHUnitedhealth Group Incorporated | 6.12% | 0.55% | 5.57% |
| MRKMerck & Company Inc | 5.23% | 0.56% | 4.67% |
| ABBVAbbvie Inc. | 5.07% | 0.70% | 4.37% |
| AMGNAmgen Inc. | 3.37% | 0.36% | 3.01% |
| TMOThermo Fisherscientific Inc. | 2.97% | 0.34% | 2.63% |
| VRTXNvaesrtex Pharmaceuticals Inc | 2.78% | 0.21% | 2.57% |
| EWEdwards Lifesciences Corp | 2.37% | 0.08% | 2.29% |
| ABTAbbott Laboratories | 1.90% | 0.29% | 1.61% |
70.3% of BME 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, BME or SPY?
BME has an expense ratio of 1.14% while SPY charges 0.09%. SPY is the cheaper option, by $105 a year on a $10,000 investment.
Which performed better, BME or SPY?
Over the past year BME returned +31.94% vs +16.73% for SPY, so BME leads on 1-year performance. Over the longest common window we track (22 years), BME annualized +4.54% vs +9.55% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BME or SPY?
BME has been the more volatile fund at 17.1% annualized versus 14.9% for SPY. Worst drawdown: BME -44.6% vs SPY -56.5%.
Should I hold both BME and SPY?
BME and SPY have a monthly-return correlation of 0.66, 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 BME and SPY?
70.3% of BME's money is in holdings SPY also owns. 8.4% of SPY's is in holdings BME also owns. They hold 38 positions in common, counted across the 133 positions we hold weights for in BME and 504 in SPY.
Which pays a higher dividend, BME or SPY?
BME yields 6.78% while SPY yields 0.98%, so BME currently pays the higher dividend yield.
Is SPY better than BME?
SPY has a lower expense ratio. BME led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.