DMB vs SPY
BNY Mellon Municipal Bond Infrastructure Fund, Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DMB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.09% | |
| AUM | $289M | $821.1B | |
| Dividend Yield | 4.51% | 1.01% | |
| Holdings | 200 | 505 | |
| YTD Return | +1.24% | +14.24% | |
| 1Y Return | +11.98% | +21.71% | |
| 3Y Return (annualized) | +3.56% | +22.10% | |
| 5Y Return (annualized) | -2.82% | +13.21% | |
| Volatility (annualized) | 15.7% | 15.3% | |
| Max Drawdown | -40.1% | -56.5% | |
| Fund Family | BNY Mellon Investment Management | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Apr 26, 2013 | Jan 22, 1993 |
DMB vs SPY Performance
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) is a ETF from BNY Mellon Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DMB returned +11.98% while SPY returned +21.71%. Year to date, DMB is up 1.24% versus a gain of 14.24% for SPY.
Over three years, DMB compounded at +3.56% per year against +22.10% for SPY; over five years the annualized figures are -2.82% and +13.21% respectively. Across the full 13-year window we track, SPY has the edge at +8.86% annualized vs -0.73%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DMB has been the more volatile fund, with annualized monthly volatility of 15.7% 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 -40.1% for DMB 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 0.37. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
DMB and SPY share 0 holdings out of 624 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, DMB or SPY?
Over the past year DMB returned +11.98% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), DMB annualized -0.73% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, DMB or SPY?
DMB has been the more volatile fund at 15.7% annualized versus 15.3% for SPY. Worst drawdown: DMB -40.1% vs SPY -56.5%.
Should I hold both DMB and SPY?
DMB and SPY have a monthly-return correlation of 0.37, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DMB and SPY?
DMB and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 624 unique securities.
Which pays a higher dividend, DMB or SPY?
DMB yields 4.51% while SPY yields 1.01%, so DMB currently pays the higher dividend yield.
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