DBEM vs SPY
Xtrackers MSCI Emerging Markets Hedged Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DBEM delivered stronger 1-year returns. DBEM offers more diversification with 1,175 holdings.
Side-by-Side Comparison
| Metric | DBEM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.66% | 0.09% | |
| AUM | $109M | $821.1B | |
| Dividend Yield | 2.31% | 1.01% | |
| Holdings | 1,175 | 505 | |
| YTD Return | +20.86% | +14.24% | |
| 1Y Return | +40.26% | +21.71% | |
| 3Y Return (annualized) | +23.09% | +22.10% | |
| 5Y Return (annualized) | +9.84% | +13.21% | |
| Volatility (annualized) | 21.7% | 15.3% | |
| Max Drawdown | -51.7% | -56.5% | |
| Fund Family | Xtrackers ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 9, 2011 | Jan 22, 1993 |
DBEM vs SPY Performance
Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) is a ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DBEM returned +40.26% while SPY returned +21.71%. Year to date, DBEM is up 20.86% versus a gain of 14.24% for SPY.
Over three years, DBEM compounded at +23.09% per year against +22.10% for SPY; over five years the annualized figures are +9.84% and +13.21% respectively. Across the full 15-year window we track, SPY has the edge at +8.86% annualized vs +3.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DBEM has been the more volatile fund, with annualized monthly volatility of 21.7% 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 -51.7% for DBEM 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 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DBEM charges 0.66% per year while SPY charges 0.09%. On a $10,000 position that is $66 vs $9 annually, a gap of $57 per year that compounds over a long holding period. On income, DBEM currently yields 2.31% against 1.01% for SPY.
Holdings Overlap
DBEM and SPY share 1 holdings out of 1657 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DBEM | Weight in SPY | Difference |
|---|---|---|---|
| HAL | 0.07% | 0.04% | 0.03% |
Frequently Asked Questions
Which is cheaper, DBEM or SPY?
DBEM has an expense ratio of 0.66% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, DBEM or SPY?
Over the past year DBEM returned +40.26% vs +21.71% for SPY, so DBEM leads on 1-year performance. Over the longest common window we track (15 years), DBEM annualized +3.78% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, DBEM or SPY?
DBEM has been the more volatile fund at 21.7% annualized versus 15.3% for SPY. Worst drawdown: DBEM -51.7% vs SPY -56.5%.
Should I hold both DBEM and SPY?
DBEM and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBEM and SPY?
DBEM and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1657 unique securities.
Which pays a higher dividend, DBEM or SPY?
DBEM yields 2.31% while SPY yields 1.01%, so DBEM currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.