BMEZ vs SPY
BlackRock Health Sciences Term Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, BMEZ or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. BMEZ led over 1Y, SPY over 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 | BMEZ | SPY |
|---|---|---|
| Expense Ratio | 1.30% | 0.09%Best |
| AUM | $1.2B | $804.7B |
| Dividend Yield | 7.41% | 0.98% |
| Holdings | 176 | 505 |
| YTD Return | +16.91%Best | +11.52% |
| 1Y Return | +25.75%Best | +17.48% |
| 3Y Return (annualized) | +15.20% | +20.62%Best |
| 5Y Return (annualized) | -0.63% | +12.73%Best |
| Volatility (annualized) | 20.0% | 17.0%Best |
| Max Drawdown | -46.0% | -34.1%Best |
| $10,000 over 5 years | $9,689 | $18,205Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Jan 29, 2020 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 29, 2020 to Sep 10, 2026 (6.6 years).
BMEZ 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 6.6 years both funds cover.
BMEZ vs SPY Performance
BlackRock Health Sciences Term Trust (BMEZ) 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 BMEZ returned +25.75% while SPY returned +17.48%. Year to date, BMEZ is up 16.91% versus a gain of 11.52% for SPY.
Over three years, BMEZ compounded at +15.20% per year against +20.62% for SPY; over five years the annualized figures are -0.63% and +12.73% respectively. Across the full 7-year window we track, SPY has the edge at +14.85% annualized vs +5.69%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BMEZ has been the more volatile fund, with annualized monthly volatility of 20.0% compared with 17.0% 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 -46.0% for BMEZ 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BMEZ charges 1.30% per year while SPY charges 0.09%. On a $10,000 position that is $130 vs $9 annually, a gap of $121 per year that compounds over a long holding period. On income, BMEZ currently yields 7.41% against 0.98% for SPY.
Holdings Overlap
At least 5.0% of SPY's money is in holdings BMEZ also owns.
Stated as a floor: for BMEZ, our book for it covers 86.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and BMEZ share little of their money.
The two holdings books were reported 126 days apart, BMEZ as of Mar 31, 2026 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.
26 positions in common, counted across the 139 positions we hold weights for in BMEZ and 504 in SPY, against full books of 176 and 505.
Top Shared Holdings
| Stock | Weight in BMEZ | Weight in SPY | Difference |
|---|---|---|---|
| JNJJohnson & Johnson | 3.52% | 0.92% | 2.60% |
| MRKMerck & Co. Inc. | 3.12% | 0.47% | 2.65% |
| GILDGilead Sciences Inc | 2.96% | 0.25% | 2.71% |
| MRNAModerna Inc | 2.76% | 0.03% | 2.73% |
| BIIBBiogen Inc. | 2.49% | 0.05% | 2.44% |
| EWEdwards Lifesciences Corp | 2.20% | 0.08% | 2.12% |
| ABBVAbbvie Inc. | 1.28% | 0.65% | 0.63% |
| AMGNAmgen Inc. | 1.57% | 0.32% | 1.25% |
| PFEPfizer, Inc. | 1.49% | 0.22% | 1.27% |
| AAgilent Tech In 3.2 10/22 | 1.27% | 0.06% | 1.21% |
You are not choosing between two funds in isolation.
Whichever of BMEZ 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, BMEZ or SPY?
BMEZ has an expense ratio of 1.30% while SPY charges 0.09%. SPY is the cheaper option, by $121 a year on a $10,000 investment.
Which performed better, BMEZ or SPY?
Over the past year BMEZ returned +25.75% vs +17.48% for SPY, so BMEZ leads on 1-year performance. Over the longest common window we track (7 years), BMEZ annualized +5.69% vs +14.85% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BMEZ or SPY?
BMEZ has been the more volatile fund at 20.0% annualized versus 17.0% for SPY. Worst drawdown: BMEZ -46.0% vs SPY -34.1%.
Should I hold both BMEZ and SPY?
BMEZ and SPY have a monthly-return correlation of 0.72, 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 BMEZ and SPY?
At least 5.0% of SPY's money is in holdings BMEZ also owns. Our book for BMEZ is partial, so the real figure is this or higher. They hold 26 positions in common, counted across the 139 positions we hold weights for in BMEZ and 504 in SPY.
Which pays a higher dividend, BMEZ or SPY?
BMEZ yields 7.41% while SPY yields 0.98%, so BMEZ currently pays the higher dividend yield.
Is SPY better than BMEZ?
SPY has a lower expense ratio. BMEZ led over 1Y, SPY over 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.