CEE vs SPY
The Central and Eastern Europe Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CEE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | CEE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.18% | 0.09% | |
| AUM | $142M | $789.1B | |
| Dividend Yield | 1.85% | 1.01% | |
| Holdings | 60 | 505 | |
| YTD Return | +17.92% | +13.39% | |
| 1Y Return | +29.92% | +22.52% | |
| 3Y Return (annualized) | +36.27% | +21.36% | |
| 5Y Return (annualized) | -2.36% | +13.19% | |
| Volatility (annualized) | 31.2% | 15.3% | |
| Max Drawdown | -83.0% | -56.5% | |
| Fund Family | DWS ETF Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 6, 1990 | Jan 22, 1993 |
CEE vs SPY Performance
The Central and Eastern Europe Fund Inc. (CEE) is a ETF from DWS ETF Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CEE returned +29.92% while SPY returned +22.52%. Year to date, CEE is up 17.92% versus a gain of 13.39% for SPY.
Over three years, CEE compounded at +36.27% per year against +21.36% for SPY; over five years the annualized figures are -2.36% and +13.19% respectively. Across the full 31-year window we track, SPY has the edge at +8.84% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CEE has been the more volatile fund, with annualized monthly volatility of 31.2% 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 -83.0% for CEE 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CEE charges 1.18% per year while SPY charges 0.09%. On a $10,000 position that is $118 vs $9 annually, a gap of $109 per year that compounds over a long holding period. On income, CEE currently yields 1.85% against 1.01% for SPY.
Holdings Overlap
CEE and SPY share 0 holdings out of 553 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, CEE or SPY?
CEE has an expense ratio of 1.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $109 per year of difference.
Which performed better, CEE or SPY?
Over the past year CEE returned +29.92% vs +22.52% for SPY, so CEE leads on 1-year performance. Over the longest common window we track (31 years), CEE annualized +7.00% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CEE or SPY?
CEE has been the more volatile fund at 31.2% annualized versus 15.3% for SPY. Worst drawdown: CEE -83.0% vs SPY -56.5%.
Should I hold both CEE and SPY?
CEE and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CEE and SPY?
CEE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, CEE or SPY?
CEE yields 1.85% while SPY yields 1.01%, so CEE currently pays the higher dividend yield.
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