BWG vs SPY
BrandywineGLOBAL Global Income Opportunities Fund Inc vs State Street SPDR S&P 500 ETF Trust
Which is better, BWG or SPY?
SPY has been ahead.
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 | BWG | SPY |
|---|---|---|
| Expense Ratio | 2.66% | 0.09%Best |
| AUM | $142M | $814.4B |
| Dividend Yield | 11.29% | 1.01% |
| Holdings | 102 | 505 |
| YTD Return | -1.64% | +13.78%Best |
| 1Y Return | -1.75% | +21.44%Best |
| 3Y Return (annualized) | +10.78% | +21.38%Best |
| 5Y Return (annualized) | +0.98% | +12.80%Best |
| Volatility (annualized) | 15.5% | 14.1%Best |
| Max Drawdown | -58.8% | -34.1%Best |
| $10,000 over 5 years | $10,500 | $18,262Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | - | Large Cap Blend |
| Inception | Mar 28, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 28, 2012 to Sep 3, 2026 (14.4 years).
BWG 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
BWG vs SPY Performance
BrandywineGLOBAL Global Income Opportunities Fund Inc (BWG) is an ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BWG returned -1.75% while SPY returned +21.44%. Year to date, BWG is down 1.64% versus a gain of 13.78% for SPY.
Over three years, BWG compounded at +10.78% per year against +21.38% for SPY; over five years the annualized figures are +0.98% and +12.80% respectively. Across the full 14-year window we track, SPY has the edge at +13.12% annualized vs -2.37%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BWG has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 14.1% 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 -58.8% for BWG 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 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BWG charges 2.66% per year while SPY charges 0.09%. On a $10,000 position that is $266 vs $9 annually, a gap of $257 per year that compounds over a long holding period. On income, BWG currently yields 11.29% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 57 holdings in BWG and 504 in SPY, totalling 57.2% 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 57 positions we hold weights for in BWG and 504 in SPY, against full books of 102 and 505.
You are not choosing between two funds in isolation.
Whichever of BWG 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, BWG or SPY?
BWG has an expense ratio of 2.66% while SPY charges 0.09%. SPY is the cheaper option, by $257 a year on a $10,000 investment.
Which performed better, BWG or SPY?
Over the past year BWG returned -1.75% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), BWG annualized -2.37% vs +13.12% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BWG or SPY?
BWG has been the more volatile fund at 15.5% annualized versus 14.1% for SPY. Worst drawdown: BWG -58.8% vs SPY -34.1%.
Should I hold both BWG and SPY?
BWG and SPY have a monthly-return correlation of 0.66, 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, BWG or SPY?
BWG yields 11.29% while SPY yields 1.01%, so BWG currently pays the higher dividend yield.
Is SPY better than BWG?
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.