DEXC vs SPY
Dimensional Emerging Markets ex China Core Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DEXC delivered stronger 1-year returns. DEXC offers more diversification with 1,987 holdings.
Side-by-Side Comparison
| Metric | DEXC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.09% | |
| AUM | $322M | $821.1B | |
| Dividend Yield | 1.64% | 1.01% | |
| Holdings | 1,987 | 505 | |
| YTD Return | +26.61% | +13.17% | |
| 1Y Return | +44.10% | +21.53% | |
| 3Y Return (annualized) | - | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 21.2% | 15.3% | |
| Max Drawdown | -18.3% | -56.5% | |
| Fund Family | Dimensional | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 13, 2024 | Jan 22, 1993 |
DEXC vs SPY Performance
Dimensional Emerging Markets ex China Core Equity ETF (DEXC) 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 DEXC returned +44.10% while SPY returned +21.53%. Year to date, DEXC is up 26.61% versus a gain of 13.17% for SPY.
Risk: Volatility and Drawdowns
DEXC has been the more volatile fund, with annualized monthly volatility of 21.2% 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 -18.3% for DEXC 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DEXC charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, DEXC currently yields 1.64% against 1.01% for SPY.
Holdings Overlap
DEXC and SPY share 394 holdings out of 2072 unique holdings combined, representing a 51.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, DEXC or SPY?
DEXC has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, DEXC or SPY?
Over the past year DEXC returned +44.10% vs +21.53% for SPY, so DEXC leads on 1-year performance. Over the longest common window we track (2 years), DEXC annualized +31.64% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, DEXC or SPY?
DEXC has been the more volatile fund at 21.2% annualized versus 15.3% for SPY. Worst drawdown: DEXC -18.3% vs SPY -56.5%.
Should I hold both DEXC and SPY?
DEXC and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DEXC and SPY?
DEXC and SPY share 394 common holdings with a 51.6% weight overlap. Combined, they hold 2072 unique securities.
Which pays a higher dividend, DEXC or SPY?
DEXC yields 1.64% while SPY yields 1.01%, so DEXC currently pays the higher dividend yield.
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