BSMC vs SPY
Brandes US Small-Mid Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BSMC or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. BSMC is less concentrated, with 29.2% of the fund in its ten largest positions against 37.8%.
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 | BSMC | SPY |
|---|---|---|
| Expense Ratio | 0.71% | 0.09%Best |
| AUM | $181M | $804.7B |
| Dividend Yield | 0.90% | 0.98% |
| Holdings | 73 | 505 |
| YTD Return | +11.12% | +13.82%Best |
| 1Y Return | +16.23% | +16.96%Best |
| 3Y Return (annualized) | +15.76% | +22.97%Best |
| 5Y Return (annualized) | - | +13.73% |
| Volatility (annualized) | 13.5% | 12.3%Best |
| Max Drawdown | -19.1% | -18.8%Best |
| $10,000 over 3 years | $15,512 | $18,786Best |
| Top 10 Weight | 29.2%Best | 37.8% |
| Fund Family | Brandes Investment Partners | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Oct 3, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Oct 6, 2023 to Sep 21, 2026 (3 years).
BSMC 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 3 years both funds cover.
BSMC vs SPY Performance
Brandes US Small-Mid Cap Value ETF (BSMC) is an ETF from Brandes Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BSMC returned +16.23% while SPY returned +16.96%. Year to date, BSMC is up 11.12% versus a gain of 13.82% for SPY.
Over three years, BSMC compounded at +15.76% per year against +22.97% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BSMC has been the more volatile fund, with annualized monthly volatility of 13.5% compared with 12.3% 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 -19.1% for BSMC and -18.8% 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 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BSMC charges 0.71% per year while SPY charges 0.09%. On a $10,000 position that is $71 vs $9 annually, a gap of $62 per year that compounds over a long holding period. On income, BSMC currently yields 0.90% against 0.98% for SPY.
Holdings Overlap
25.3% of BSMC's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings BSMC also owns.
BSMC and SPY share little of their money.
17 positions in common, counted across the 70 positions we hold weights for in BSMC and 504 in SPY, against full books of 73 and 505.
What only one of them owns
Our book lists 481 positions for SPY that do not appear in our book for BSMC (98.9% of the fund), and 44 for BSMC that do not appear in SPY (68.5%).
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 BSMC | Weight in SPY | Difference |
|---|---|---|---|
| IFFInternational Flavors & Fragrances Inc. | 2.84% | 0.03% | 2.81% |
| ZBHZimmer Biomet Holdings | 2.41% | 0.03% | 2.38% |
| CFGCitizens Financial Group Inc. | 2.06% | 0.04% | 2.02% |
| OMCOmnicom Group Inc. | 1.92% | 0.04% | 1.88% |
| TXTTextron Inc. | 1.92% | 0.02% | 1.90% |
| TAPMolson Coors Brewing Co. Class B | 1.64% | 0.01% | 1.63% |
| HALHalliburton Co. | 1.46% | 0.05% | 1.41% |
| BROBrown & Brown Inc | 1.47% | 0.03% | 1.44% |
| TSNTyson Foods Inc. Class A | 1.26% | 0.02% | 1.24% |
| STZConstellation Brands Inc Common Stock Usd 0.01 | 1.20% | 0.03% | 1.17% |
25.3% of BSMC 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, BSMC or SPY?
BSMC has an expense ratio of 0.71% while SPY charges 0.09%. SPY is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, BSMC or SPY?
Over the past year BSMC returned +16.23% vs +16.96% 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, BSMC or SPY?
BSMC has been the more volatile fund at 13.5% annualized versus 12.3% for SPY. Worst drawdown: BSMC -19.1% vs SPY -18.8%.
Should I hold both BSMC and SPY?
BSMC and SPY have a monthly-return correlation of 0.62, 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 BSMC and SPY?
25.3% of BSMC's money is in holdings SPY also owns. 0.5% of SPY's is in holdings BSMC also owns. They hold 17 positions in common, counted across the 70 positions we hold weights for in BSMC and 504 in SPY.
Which pays a higher dividend, BSMC or SPY?
BSMC yields 0.90% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than BSMC?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. BSMC is less concentrated, with 29.2% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.