DFII vs SPY
FT Vest Bitcoin Strategy & Target Income 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 | DFII | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $17M | $789.1B | |
| Dividend Yield | 25.66% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | -29.20% | +13.68% | |
| 1Y Return | -46.32% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 34.5% | 15.3% | |
| Max Drawdown | -51.0% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 2, 2025 | Jan 22, 1993 |
DFII vs SPY Performance
FT Vest Bitcoin Strategy & Target Income ETF (DFII) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DFII returned -46.32% while SPY returned +21.53%. Year to date, DFII is down 29.20% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
DFII has been the more volatile fund, with annualized monthly volatility of 34.5% 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 -51.0% for DFII 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 0.52. They move independently enough that combining them can meaningfully diversify a portfolio.
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 25.66% against 1.01% for SPY.
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. On a $10,000 investment, that is $76 per year of difference.
Which performed better, DFII or SPY?
Over the past year DFII returned -46.32% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), DFII annualized -18.15% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DFII or SPY?
DFII has been the more volatile fund at 34.5% annualized versus 15.3% for SPY. Worst drawdown: DFII -51.0% vs SPY -56.5%.
Should I hold both DFII and SPY?
DFII and SPY have a monthly-return correlation of 0.52, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, DFII or SPY?
DFII yields 25.66% while SPY yields 1.01%, so DFII currently pays the higher dividend yield.
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