DEHP vs SPY
Dimensional Emerging Markets High Profitability ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DEHP or SPY?
Each has led over a different period.
SPY has a lower expense ratio. DEHP led over 1Y and 3Y, SPY over the full window. DEHP is less concentrated, with 36.0% of the fund in its ten largest positions against 37.8%.
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 | DEHP | SPY |
|---|---|---|
| Expense Ratio | 0.41% | 0.09%Best |
| AUM | $460M | $804.7B |
| Dividend Yield | 1.35% | 0.98% |
| Holdings | 761 | 505 |
| YTD Return | +29.71%Best | +13.82% |
| 1Y Return | +40.14%Best | +16.96% |
| 3Y Return (annualized) | +25.05%Best | +22.97% |
| 5Y Return (annualized) | - | +13.73% |
| Volatility (annualized) | 19.3% | 15.1%Best |
| Max Drawdown | -22.9% | -18.8%Best |
| $10,000 over 4.4 years | $18,702 | $19,633Best |
| Top 10 Weight | 36.0%Best | 37.8% |
| Fund Family | Dimensional | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 26, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Apr 27, 2022 to Sep 21, 2026 (4.4 years).
DEHP 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 4.4 years both funds cover.
DEHP vs SPY Performance
Dimensional Emerging Markets High Profitability ETF (DEHP) is an ETF from Dimensional and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DEHP returned +40.14% while SPY returned +16.96%. Year to date, DEHP is up 29.71% versus a gain of 13.82% for SPY.
Over three years, DEHP compounded at +25.05% per year against +22.97% for SPY. Across the full 4-year window we track, SPY has the edge at +16.57% annualized vs +15.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DEHP has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 15.1% 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 -18.8% 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 0.67. They move together some of the time, and apart the rest.
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 1.35% against 0.98% for SPY.
Holdings Overlap
0.1% of DEHP's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings DEHP 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 756 positions we hold weights for in DEHP and 504 in SPY, against full books of 761 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for DEHP (99.3% of the fund), and 16 for DEHP that do not appear in SPY (2.3%).
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 DEHP | Weight in SPY | Difference |
|---|---|---|---|
| HALHalliburton Co. | 0.15% | 0.05% | 0.10% |
You are not choosing between two funds in isolation.
Whichever of DEHP 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, DEHP or SPY?
DEHP has an expense ratio of 0.41% while SPY charges 0.09%. SPY is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, DEHP or SPY?
Over the past year DEHP returned +40.14% vs +16.96% for SPY, so DEHP leads on 1-year performance. Over the longest common window we track (4 years), DEHP annualized +15.29% vs +16.57% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DEHP or SPY?
DEHP has been the more volatile fund at 19.3% annualized versus 15.1% for SPY. Worst drawdown: DEHP -22.9% vs SPY -18.8%.
Should I hold both DEHP and SPY?
DEHP and SPY have a monthly-return correlation of 0.67, 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, DEHP or SPY?
DEHP yields 1.35% while SPY yields 0.98%, so DEHP currently pays the higher dividend yield.
Is SPY better than DEHP?
SPY has a lower expense ratio. DEHP led over 1Y and 3Y, SPY over the full window. DEHP is less concentrated, with 36.0% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.