DBEM vs SPY
Xtrackers MSCI Emerging Markets Hedged Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DBEM or SPY?
Each has led over a different period.
SPY has a lower expense ratio. DBEM led over 1Y and 3Y, SPY over 5Y and the full window. DBEM is less concentrated, with 36.9% of the fund in its ten largest positions against 38.0%.
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 | DBEM | SPY |
|---|---|---|
| Expense Ratio | 0.66% | 0.09%Best |
| AUM | $109M | $814.4B |
| Dividend Yield | 2.31% | 1.01% |
| Holdings | 1,174 | 505 |
| YTD Return | +22.62%Best | +13.34% |
| 1Y Return | +40.71%Best | +19.97% |
| 3Y Return (annualized) | +23.31%Best | +21.20% |
| 5Y Return (annualized) | +9.44% | +12.81%Best |
| Volatility (annualized) | 21.7% | 14.3%Best |
| Max Drawdown | -51.7% | -34.1%Best |
| $10,000 over 5 years | $15,699 | $18,270Best |
| Top 10 Weight | 36.9%Best | 38.0% |
| Fund Family | Xtrackers ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 9, 2011 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 9, 2011 to Sep 4, 2026 (15.2 years).
DBEM 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 15.2 years both funds cover.
DBEM vs SPY Performance
Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) is an ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DBEM returned +40.71% while SPY returned +19.97%. Year to date, DBEM is up 22.62% versus a gain of 13.34% for SPY.
Over three years, DBEM compounded at +23.31% per year against +21.20% for SPY; over five years the annualized figures are +9.44% and +12.81% respectively. Across the full 15-year window we track, SPY has the edge at +12.97% annualized vs +3.86%.
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 14.3% 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 -34.1% 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 0.42. They move together some of the time, and apart the rest.
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
0.1% of DBEM's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 1,154 positions we hold weights for in DBEM and 503 in SPY, against full books of 1,174 and 505.
What only one of them owns
Our book lists 492 positions for SPY that do not appear in our book for DBEM (99.4% of the fund), and 15 for DBEM that do not appear in SPY (1.1%).
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 DBEM | Weight in SPY | Difference |
|---|---|---|---|
| HALHalliburton | 0.07% | 0.04% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of DBEM and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $57 a year on a $10,000 investment.
Which performed better, DBEM or SPY?
Over the past year DBEM returned +40.71% vs +19.97% for SPY, so DBEM leads on 1-year performance. Over the longest common window we track (15 years), DBEM annualized +3.86% vs +12.97% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DBEM or SPY?
DBEM has been the more volatile fund at 21.7% annualized versus 14.3% for SPY. Worst drawdown: DBEM -51.7% vs SPY -34.1%.
Should I hold both DBEM and SPY?
DBEM and SPY have a monthly-return correlation of 0.42, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
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.
Is SPY better than DBEM?
SPY has a lower expense ratio. DBEM led over 1Y and 3Y, SPY over 5Y and the full window. DBEM is less concentrated, with 36.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.