BRAZ vs SPY
Global X Brazil Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. BRAZ delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BRAZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $10M | $789.1B | |
| Dividend Yield | 2.72% | 1.01% | |
| Holdings | 31 | 505 | |
| YTD Return | +10.94% | +13.79% | |
| 1Y Return | +30.91% | +23.66% | |
| 3Y Return (annualized) | +10.47% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 23.3% | 15.3% | |
| Max Drawdown | -31.0% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 16, 2023 | Jan 22, 1993 |
BRAZ vs SPY Performance
Global X Brazil Active ETF (BRAZ) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BRAZ returned +30.91% while SPY returned +23.66%. Year to date, BRAZ is up 10.94% versus a gain of 13.79% for SPY.
Over three years, BRAZ compounded at +10.47% per year against +21.40% for SPY. Across the full 3-year window we track, BRAZ has the edge at +10.47% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BRAZ has been the more volatile fund, with annualized monthly volatility of 23.3% 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 -31.0% for BRAZ 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 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BRAZ charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, BRAZ currently yields 2.72% against 1.01% for SPY.
Holdings Overlap
BRAZ and SPY share 0 holdings out of 531 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BRAZ or SPY?
BRAZ has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, BRAZ or SPY?
Over the past year BRAZ returned +30.91% vs +23.66% for SPY, so BRAZ leads on 1-year performance. Over the longest common window we track (3 years), BRAZ annualized +10.47% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BRAZ or SPY?
BRAZ has been the more volatile fund at 23.3% annualized versus 15.3% for SPY. Worst drawdown: BRAZ -31.0% vs SPY -56.5%.
Should I hold both BRAZ and SPY?
BRAZ and SPY have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BRAZ and SPY?
BRAZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, BRAZ or SPY?
BRAZ yields 2.72% while SPY yields 1.01%, so BRAZ currently pays the higher dividend yield.
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