BNDD vs SPY
Quadratic Deflation ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BNDD or SPY?
Long Term Government Bond 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 | BNDD | SPY |
|---|---|---|
| Expense Ratio | 1.02% | 0.09%Best |
| AUM | $18M | $814.4B |
| Dividend Yield | 3.98% | 1.01% |
| Holdings | 4 | 505 |
| YTD Return | +3.70% | +13.34%Best |
| 1Y Return | +3.56% | +19.97%Best |
| 3Y Return (annualized) | -3.23% | +21.20%Best |
| 5Y Return (annualized) | -4.34% | +12.81%Best |
| Volatility (annualized) | 11.3%Best | 15.7% |
| Max Drawdown | -30.9% | -24.5%Best |
| $10,000 over 5 years | $8,010 | $18,270Best |
| Fund Family | KraneShares | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Government Bond | Large Cap Blend |
| Inception | Sep 20, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 21, 2021 to Sep 4, 2026 (5 years).
BNDD 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 5 years both funds cover.
BNDD vs SPY Performance
Quadratic Deflation ETF (BNDD) is an ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BNDD returned +3.56% while SPY returned +19.97%. Year to date, BNDD is up 3.70% versus a gain of 13.34% for SPY.
Over three years, BNDD compounded at -3.23% per year against +21.20% for SPY; over five years the annualized figures are -4.34% and +12.81% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 11.3% for BNDD. 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 -30.9% for BNDD and -24.5% 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 0.39. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BNDD charges 1.02% per year while SPY charges 0.09%. On a $10,000 position that is $102 vs $9 annually, a gap of $93 per year that compounds over a long holding period. On income, BNDD currently yields 3.98% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 1 holding in BNDD and 504 in SPY, totalling 77.2% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in BNDD and 504 in SPY, against full books of 4 and 505.
You are not choosing between two funds in isolation.
Whichever of BNDD 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, BNDD or SPY?
BNDD has an expense ratio of 1.02% while SPY charges 0.09%. SPY is the cheaper option, by $93 a year on a $10,000 investment.
Which performed better, BNDD or SPY?
Over the past year BNDD returned +3.56% vs +19.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BNDD or SPY?
SPY has been the more volatile fund at 15.7% annualized versus 11.3% for BNDD. Worst drawdown: BNDD -30.9% vs SPY -24.5%.
Should I hold both BNDD and SPY?
BNDD and SPY have a monthly-return correlation of 0.39, 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, BNDD or SPY?
BNDD yields 3.98% while SPY yields 1.01%, so BNDD currently pays the higher dividend yield.
Is SPY better than BNDD?
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.