CRBN vs SPY
iShares Low Carbon Optimized MSCI ACWI ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CRBN delivered stronger 1-year returns. CRBN offers more diversification with 1,123 holdings.
Side-by-Side Comparison
| Metric | CRBN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $1.2B | $821.1B | |
| Dividend Yield | 2.04% | 1.01% | |
| Holdings | 1,123 | 505 | |
| YTD Return | +12.35% | +12.68% | |
| 1Y Return | +21.86% | +21.82% | |
| 3Y Return (annualized) | +21.59% | +21.98% | |
| 5Y Return (annualized) | +11.03% | +12.89% | |
| Volatility (annualized) | 3659.8% | 15.3% | |
| Max Drawdown | -33.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 8, 2014 | Jan 22, 1993 |
CRBN vs SPY Performance
iShares Low Carbon Optimized MSCI ACWI ETF (CRBN) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CRBN returned +21.86% while SPY returned +21.82%. Year to date, CRBN is up 12.35% versus a gain of 12.68% for SPY.
Over three years, CRBN compounded at +21.59% per year against +21.98% for SPY; over five years the annualized figures are +11.03% and +12.89% respectively. Across the full 13-year window we track, CRBN has the edge at +57.98% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CRBN has been the more volatile fund, with annualized monthly volatility of 3659.8% 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 -33.1% for CRBN 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 -0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CRBN charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, CRBN currently yields 2.04% against 1.01% for SPY.
Holdings Overlap
CRBN and SPY share 292 holdings out of 1188 unique holdings combined, representing a 54.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, CRBN or SPY?
CRBN has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, CRBN or SPY?
Over the past year CRBN returned +21.86% vs +21.82% for SPY, so CRBN leads on 1-year performance. Over the longest common window we track (13 years), CRBN annualized +57.98% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, CRBN or SPY?
CRBN has been the more volatile fund at 3659.8% annualized versus 15.3% for SPY. Worst drawdown: CRBN -33.1% vs SPY -56.5%.
Should I hold both CRBN and SPY?
CRBN and SPY have a monthly-return correlation of -0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CRBN and SPY?
CRBN and SPY share 292 common holdings with a 54.9% weight overlap. Combined, they hold 1188 unique securities.
Which pays a higher dividend, CRBN or SPY?
CRBN yields 2.04% while SPY yields 1.01%, so CRBN currently pays the higher dividend yield.
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