DPG vs SPY
DPG vs SPY
Duff & Phelps Utility and Infrastructure Fund Inc 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 | DPG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.26% | 0.09% | |
| AUM | $595M | $789.1B | |
| Dividend Yield | 5.15% | 1.01% | |
| Holdings | 56 | 505 | |
| YTD Return | +16.48% | +13.79% | |
| 1Y Return | +20.90% | +23.66% | |
| 3Y Return (annualized) | +23.46% | +21.40% | |
| 5Y Return (annualized) | +9.30% | +13.37% | |
| Volatility (annualized) | 20.0% | 15.3% | |
| Max Drawdown | -76.0% | -56.5% | |
| Fund Family | Duff & Phelps Investment Management Co. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 29, 2011 | Jan 22, 1993 |
DPG vs SPY Performance
Duff & Phelps Utility and Infrastructure Fund Inc (DPG) is a ETF from Duff & Phelps Investment Management Co. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DPG returned +20.90% while SPY returned +23.66%. Year to date, DPG is up 16.48% versus a gain of 13.79% for SPY.
Over three years, DPG compounded at +23.46% per year against +21.40% for SPY; over five years the annualized figures are +9.30% and +13.37% respectively. Across the full 15-year window we track, SPY has the edge at +8.85% annualized vs +1.03%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DPG has been the more volatile fund, with annualized monthly volatility of 20.0% 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 -76.0% for DPG 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DPG charges 2.26% per year while SPY charges 0.09%. On a $10,000 position that is $226 vs $9 annually, a gap of $217 per year that compounds over a long holding period. On income, DPG currently yields 5.15% against 1.01% for SPY.
Holdings Overlap
DPG and SPY share 27 holdings out of 529 unique holdings combined, representing a 2.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DPG | Weight in SPY | Difference |
|---|---|---|---|
| NEE | 4.05% | 0.28% | 3.77% |
| DUK | 3.78% | 0.15% | 3.63% |
| XEL | 3.70% | 0.08% | 3.62% |
| SRE | Pro | Pro | Pro |
| ETR | Pro | Pro | Pro |
| PPL | Pro | Pro | Pro |
| UNP | Pro | Pro | Pro |
| AEP | Pro | Pro | Pro |
| WMB | Pro | Pro | Pro |
| CNP | Pro | Pro | Pro |
See all 10 holdings DPG shares with SPY Exact weights in each fund and the difference, for every overlapping position. X-ray my whole portfolio$99/yr Pro · 7-day refund | |||
Frequently Asked Questions
Which is cheaper, DPG or SPY?
DPG has an expense ratio of 2.26% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $217 per year of difference.
Which performed better, DPG or SPY?
Over the past year DPG returned +20.90% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), DPG annualized +1.03% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DPG or SPY?
DPG has been the more volatile fund at 20.0% annualized versus 15.3% for SPY. Worst drawdown: DPG -76.0% vs SPY -56.5%.
Should I hold both DPG and SPY?
DPG and SPY have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DPG and SPY?
DPG and SPY share 27 common holdings with a 2.6% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, DPG or SPY?
DPG yields 5.15% while SPY yields 1.01%, so DPG currently pays the higher dividend yield.
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