DFII vs SPY
FT Vest Bitcoin Strategy & Target Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DFII or SPY?
Option Writing against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | DFII | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $20M | $804.7B |
| Dividend Yield | 21.96% | 0.98% |
| Holdings | 8 | 505 |
| YTD Return | -17.38% | +10.96%Best |
| 1Y Return | -36.05% | +15.52%Best |
| 3Y Return (annualized) | - | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 38.1% | 12.4%Best |
| Max Drawdown | -51.0% | -8.9%Best |
| $10,000 over 1.5 years | $8,857 | $14,409Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | Apr 2, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 3, 2025 to Sep 16, 2026 (1.5 years).
DFII 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 1.5 years both funds cover.
DFII vs SPY Performance
FT Vest Bitcoin Strategy & Target Income ETF (DFII) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DFII returned -36.05% while SPY returned +15.52%. Year to date, DFII is down 17.38% versus a gain of 10.96% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFII has been the more volatile fund, with annualized monthly volatility of 38.1% compared with 12.4% 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 -51.0% for DFII and -8.9% 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 0.47. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DFII charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, DFII currently yields 21.96% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of DFII 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, DFII or SPY?
DFII has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, DFII or SPY?
Over the past year DFII returned -36.05% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), DFII annualized -7.77% vs +27.57% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFII or SPY?
DFII has been the more volatile fund at 38.1% annualized versus 12.4% for SPY. Worst drawdown: DFII -51.0% vs SPY -8.9%.
Should I hold both DFII and SPY?
DFII and SPY have a monthly-return correlation of 0.47, 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, DFII or SPY?
DFII yields 21.96% while SPY yields 0.98%, so DFII currently pays the higher dividend yield.
Is SPY better than DFII?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.