DIVI vs SPY
Franklin International Core Dividend Tilt Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DIVI or SPY?
Each has led over a different period.
DIVI led over 1Y and 5Y, SPY over 3Y and the full window. DIVI is less concentrated, with 13.6% of the fund in its ten largest positions against 38.0%.
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 | DIVI | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $2.7B | $804.7B |
| Dividend Yield | 3.48% | 0.98% |
| Holdings | 421 | 505 |
| YTD Return | +13.83%Best | +12.19% |
| 1Y Return | +23.69%Best | +18.53% |
| 3Y Return (annualized) | +19.80% | +20.88%Best |
| 5Y Return (annualized) | +13.63%Best | +12.69% |
| Volatility (annualized) | 13.4%Best | 15.3% |
| Max Drawdown | -27.8%Best | -34.1% |
| $10,000 over 5 years | $18,944Best | $18,173 |
| Top 10 Weight | 13.6%Best | 38.0% |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 1, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 3, 2016 to Sep 9, 2026 (10.3 years).
DIVI 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 10.3 years both funds cover.
DIVI vs SPY Performance
Franklin International Core Dividend Tilt Index ETF (DIVI) is an ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DIVI returned +23.69% while SPY returned +18.53%. Year to date, DIVI is up 13.83% versus a gain of 12.19% for SPY.
Over three years, DIVI compounded at +19.80% per year against +20.88% for SPY; over five years the annualized figures are +13.63% and +12.69% respectively. Across the full 10-year window we track, SPY has the edge at +14.19% annualized vs +7.72%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.4% for DIVI. 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 -27.8% for DIVI and -34.1% 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DIVI charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, DIVI currently yields 3.48% against 0.98% for SPY.
Holdings Overlap
0.1% of DIVI's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings DIVI 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 408 positions we hold weights for in DIVI and 504 in SPY, against full books of 421 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for DIVI (99.5% of the fund), and 7 for DIVI that do not appear in SPY (1.3%).
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 DIVI | Weight in SPY | Difference |
|---|---|---|---|
| UMG:ASUniversal Music Group NV | 0.15% | 0.06% | 0.09% |
You are not choosing between two funds in isolation.
Whichever of DIVI 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, DIVI or SPY?
DIVI has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, DIVI or SPY?
Over the past year DIVI returned +23.69% vs +18.53% for SPY, so DIVI leads on 1-year performance. Over the longest common window we track (10 years), DIVI annualized +7.72% vs +14.19% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DIVI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.4% for DIVI. Worst drawdown: DIVI -27.8% vs SPY -34.1%.
Should I hold both DIVI and SPY?
DIVI and SPY have a monthly-return correlation of 0.74, 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, DIVI or SPY?
DIVI yields 3.48% while SPY yields 0.98%, so DIVI currently pays the higher dividend yield.
Is SPY better than DIVI?
DIVI led over 1Y and 5Y, SPY over 3Y and the full window. DIVI is less concentrated, with 13.6% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.