DEHP vs SPY
Dimensional Emerging Markets High Profitability ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DEHP delivered stronger 1-year returns. DEHP offers more diversification with 803 holdings.
Side-by-Side Comparison
| Metric | DEHP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.41% | 0.09% | |
| AUM | $448M | $821.1B | |
| Dividend Yield | 1.42% | 1.01% | |
| Holdings | 803 | 505 | |
| YTD Return | +23.86% | +13.17% | |
| 1Y Return | +42.58% | +21.53% | |
| 3Y Return (annualized) | +23.81% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 19.4% | 15.3% | |
| Max Drawdown | -22.9% | -56.5% | |
| Fund Family | Dimensional | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 26, 2022 | Jan 22, 1993 |
DEHP vs SPY Performance
Dimensional Emerging Markets High Profitability ETF (DEHP) is a ETF from Dimensional and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DEHP returned +42.58% while SPY returned +21.53%. Year to date, DEHP is up 23.86% versus a gain of 13.17% for SPY.
Over three years, DEHP compounded at +23.81% per year against +22.06% for SPY. Across the full 4-year window we track, DEHP has the edge at +14.40% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DEHP has been the more volatile fund, with annualized monthly volatility of 19.4% 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 -22.9% for DEHP 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DEHP charges 0.41% per year while SPY charges 0.09%. On a $10,000 position that is $41 vs $9 annually, a gap of $32 per year that compounds over a long holding period. On income, DEHP currently yields 1.42% against 1.01% for SPY.
Holdings Overlap
DEHP and SPY share 1 holdings out of 1255 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 DEHP | Weight in SPY | Difference |
|---|---|---|---|
| HAL | 0.15% | 0.04% | 0.11% |
Frequently Asked Questions
Which is cheaper, DEHP or SPY?
DEHP has an expense ratio of 0.41% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, DEHP or SPY?
Over the past year DEHP returned +42.58% vs +21.53% for SPY, so DEHP leads on 1-year performance. Over the longest common window we track (4 years), DEHP annualized +14.40% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, DEHP or SPY?
DEHP has been the more volatile fund at 19.4% annualized versus 15.3% for SPY. Worst drawdown: DEHP -22.9% vs SPY -56.5%.
Should I hold both DEHP and SPY?
DEHP and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DEHP and SPY?
DEHP and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1255 unique securities.
Which pays a higher dividend, DEHP or SPY?
DEHP yields 1.42% while SPY yields 1.01%, so DEHP currently pays the higher dividend yield.
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