BPAY vs SPY
iShares FinTech Active 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 503 holdings.
Side-by-Side Comparison
| Metric | BPAY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $9M | $789.1B | |
| Dividend Yield | 7.10% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | -1.32% | +13.79% | |
| 1Y Return | -12.43% | +23.66% | |
| 3Y Return (annualized) | +9.64% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 24.3% | 15.3% | |
| Max Drawdown | -33.6% | -56.5% | |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 16, 2022 | Jan 22, 1993 |
BPAY vs SPY Performance
iShares FinTech Active ETF (BPAY) is a ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BPAY returned -12.43% while SPY returned +23.66%. Year to date, BPAY is down 1.32% versus a gain of 13.79% for SPY.
Over three years, BPAY compounded at +9.64% per year against +21.40% for SPY. Across the full 4-year window we track, SPY has the edge at +8.85% annualized vs +4.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BPAY has been the more volatile fund, with annualized monthly volatility of 24.3% 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 -33.6% for BPAY 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BPAY charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, BPAY currently yields 7.10% against 1.01% for SPY.
Holdings Overlap
BPAY and SPY share 11 holdings out of 531 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BPAY or SPY?
BPAY has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, BPAY or SPY?
Over the past year BPAY returned -12.43% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BPAY annualized +4.59% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BPAY or SPY?
BPAY has been the more volatile fund at 24.3% annualized versus 15.3% for SPY. Worst drawdown: BPAY -33.6% vs SPY -56.5%.
Should I hold both BPAY and SPY?
BPAY and SPY have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BPAY and SPY?
BPAY and SPY share 11 common holdings with a 2.7% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, BPAY or SPY?
BPAY yields 7.10% while SPY yields 1.01%, so BPAY currently pays the higher dividend yield.
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