BYRE vs SPY
Principal Real Estate Active Opportunities 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 505 holdings.
Side-by-Side Comparison
| Metric | BYRE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $28M | $821.1B | |
| Dividend Yield | 2.68% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +14.49% | +13.17% | |
| 1Y Return | +13.17% | +21.53% | |
| 3Y Return (annualized) | +11.82% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 17.7% | 15.3% | |
| Max Drawdown | -25.7% | -56.5% | |
| Fund Family | Principal Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 18, 2022 | Jan 22, 1993 |
BYRE vs SPY Performance
Principal Real Estate Active Opportunities ETF (BYRE) is a ETF from Principal Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BYRE returned +13.17% while SPY returned +21.53%. Year to date, BYRE is up 14.49% versus a gain of 13.17% for SPY.
Over three years, BYRE compounded at +11.82% per year against +22.06% for SPY. Across the full 4-year window we track, SPY has the edge at +8.82% annualized vs +5.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BYRE has been the more volatile fund, with annualized monthly volatility of 17.7% 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 -25.7% for BYRE 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BYRE charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, BYRE currently yields 2.68% against 1.01% for SPY.
Holdings Overlap
BYRE and SPY share 12 holdings out of 542 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BYRE or SPY?
BYRE has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, BYRE or SPY?
Over the past year BYRE returned +13.17% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BYRE annualized +5.01% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, BYRE or SPY?
BYRE has been the more volatile fund at 17.7% annualized versus 15.3% for SPY. Worst drawdown: BYRE -25.7% vs SPY -56.5%.
Should I hold both BYRE and SPY?
BYRE and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BYRE and SPY?
BYRE and SPY share 12 common holdings with a 1.1% weight overlap. Combined, they hold 542 unique securities.
Which pays a higher dividend, BYRE or SPY?
BYRE yields 2.68% while SPY yields 1.01%, so BYRE currently pays the higher dividend yield.
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