DMCY vs SPY
Democracy International Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DMCY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DMCY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $5M | $821.1B | |
| Dividend Yield | 2.94% | 1.01% | |
| Holdings | 5 | 505 | |
| YTD Return | +4.90% | +13.17% | |
| 1Y Return | +26.32% | +21.53% | |
| 3Y Return (annualized) | +14.13% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 14.7% | 15.3% | |
| Max Drawdown | -28.6% | -56.5% | |
| Fund Family | Democracy Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 31, 2021 | Jan 22, 1993 |
DMCY vs SPY Performance
Democracy International Fund (DMCY) is a ETF from Democracy Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DMCY returned +26.32% while SPY returned +21.53%. Year to date, DMCY is up 4.90% versus a gain of 13.17% for SPY.
Over three years, DMCY compounded at +14.13% per year against +22.06% for SPY. Across the full 5-year window we track, SPY has the edge at +8.82% annualized vs +7.91%. 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 14.7% for DMCY. 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 -28.6% for DMCY 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DMCY charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, DMCY currently yields 2.94% against 1.01% for SPY.
Holdings Overlap
DMCY and SPY share 2 holdings out of 700 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DMCY or SPY?
DMCY has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, DMCY or SPY?
Over the past year DMCY returned +26.32% vs +21.53% for SPY, so DMCY leads on 1-year performance. Over the longest common window we track (5 years), DMCY annualized +7.91% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, DMCY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.7% for DMCY. Worst drawdown: DMCY -28.6% vs SPY -56.5%.
Should I hold both DMCY and SPY?
DMCY and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DMCY and SPY?
DMCY and SPY share 2 common holdings with a 0.2% weight overlap. Combined, they hold 700 unique securities.
Which pays a higher dividend, DMCY or SPY?
DMCY yields 2.94% while SPY yields 1.01%, so DMCY currently pays the higher dividend yield.
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