BYRE vs SPY
Principal Real Estate Active Opportunities ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, BYRE or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.2%.
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 | BYRE | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $28M | $804.7B |
| Dividend Yield | 2.74% | 0.98% |
| Holdings | 53 | 505 |
| YTD Return | +10.00% | +10.96%Best |
| 1Y Return | +8.15% | +15.52%Best |
| 3Y Return (annualized) | +9.26% | +20.73%Best |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 17.6% | 15.3%Best |
| Max Drawdown | -25.7% | -18.8%Best |
| $10,000 over 4.3 years | $11,817 | $20,419Best |
| Top 10 Weight | 52.2% | 37.8%Best |
| Fund Family | Principal Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | May 18, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.3 years row, are measured over the window both funds cover: May 19, 2022 to Sep 16, 2026 (4.3 years).
BYRE 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 4.3 years both funds cover.
BYRE vs SPY Performance
Principal Real Estate Active Opportunities ETF (BYRE) is an ETF from Principal Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year BYRE returned +8.15% while SPY returned +15.52%. Year to date, BYRE is up 10.00% versus a gain of 10.96% for SPY.
Over three years, BYRE compounded at +9.26% per year against +20.73% for SPY. Across the full 4-year window we track, SPY has the edge at +18.06% annualized vs +3.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BYRE has been the more volatile fund, with annualized monthly volatility of 17.6% 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 -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 0.75. 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 2.74% against 0.98% for SPY.
Holdings Overlap
54.6% of BYRE's money is in holdings SPY also owns. 1.1% of SPY's money is in holdings BYRE also owns.
The two portfolios partly overlap.
12 positions in common, counted across the 51 positions we hold weights for in BYRE and 504 in SPY, against full books of 53 and 505.
What only one of them owns
Our book lists 485 positions for SPY that do not appear in our book for BYRE (98.2% of the fund), and 23 for BYRE that do not appear in SPY (35.4%).
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 BYRE | Weight in SPY | Difference |
|---|---|---|---|
| WELLWelltower, Inc. | 8.43% | 0.26% | 8.17% |
| EQIXEquinix Inc. Real Estate Investment Trust | 8.29% | 0.15% | 8.14% |
| AMTAmerican Tower Corporation | 6.63% | 0.12% | 6.51% |
| VTRVentas Inc . | 4.63% | 0.07% | 4.56% |
| CCICrown Castle International Corp | 4.63% | 0.05% | 4.58% |
| PLDPrologis Inc | 4.39% | 0.20% | 4.19% |
| EXRExtra Space Storage Inc. | 3.58% | 0.05% | 3.53% |
| DLRDigital Realty Trust Inc. | 3.50% | 0.10% | 3.40% |
| IRMIron Mtn Inc New Com Npv | 3.51% | 0.05% | 3.46% |
| ESSEssex Property | 3.41% | 0.03% | 3.38% |
54.6% of BYRE 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, BYRE or SPY?
BYRE has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, BYRE or SPY?
Over the past year BYRE returned +8.15% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BYRE annualized +3.96% vs +18.06% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BYRE or SPY?
BYRE has been the more volatile fund at 17.6% annualized versus 15.3% for SPY. Worst drawdown: BYRE -25.7% vs SPY -18.8%.
Should I hold both BYRE and SPY?
BYRE and SPY have a monthly-return correlation of 0.75, 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 BYRE and SPY?
54.6% of BYRE's money is in holdings SPY also owns. 1.1% of SPY's is in holdings BYRE also owns. They hold 12 positions in common, counted across the 51 positions we hold weights for in BYRE and 504 in SPY.
Which pays a higher dividend, BYRE or SPY?
BYRE yields 2.74% while SPY yields 0.98%, so BYRE currently pays the higher dividend yield.
Is SPY better than BYRE?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.