DESK vs SPY
VanEck Office and Commercial REIT ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DESK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.51% | 0.09% | |
| AUM | $14M | $789.1B | |
| Dividend Yield | 4.66% | 1.01% | |
| Holdings | 27 | 505 | |
| YTD Return | +16.60% | +14.47% | |
| 1Y Return | +10.76% | +21.96% | |
| 3Y Return (annualized) | +13.58% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 22.5% | 15.3% | |
| Max Drawdown | -28.6% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 19, 2023 | Jan 22, 1993 |
DESK vs SPY Performance
VanEck Office and Commercial REIT ETF (DESK) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DESK returned +10.76% while SPY returned +21.96%. Year to date, DESK is up 16.60% versus a gain of 14.47% for SPY.
Over three years, DESK compounded at +13.58% per year against +21.70% for SPY. Across the full 3-year window we track, DESK has the edge at +13.58% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DESK has been the more volatile fund, with annualized monthly volatility of 22.5% 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 -28.6% for DESK 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DESK charges 0.51% per year while SPY charges 0.09%. On a $10,000 position that is $51 vs $9 annually, a gap of $42 per year that compounds over a long holding period. On income, DESK currently yields 4.66% against 1.01% for SPY.
Holdings Overlap
DESK and SPY share 5 holdings out of 523 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DESK or SPY?
DESK has an expense ratio of 0.51% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $42 per year of difference.
Which performed better, DESK or SPY?
Over the past year DESK returned +10.76% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), DESK annualized +13.58% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, DESK or SPY?
DESK has been the more volatile fund at 22.5% annualized versus 15.3% for SPY. Worst drawdown: DESK -28.6% vs SPY -56.5%.
Should I hold both DESK and SPY?
DESK and SPY have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DESK and SPY?
DESK and SPY share 5 common holdings with a 0.4% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, DESK or SPY?
DESK yields 4.66% while SPY yields 1.01%, so DESK currently pays the higher dividend yield.
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