DSI vs SPY
iShares ESG MSCI KLD 400 ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DSI or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. DSI led over 1Y and the full window, SPY over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 44.5%.
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 | DSI | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $5.4B | $804.7B |
| Dividend Yield | 0.84% | 0.98% |
| Holdings | 407 | 505 |
| YTD Return | +13.48%Best | +12.09% |
| 1Y Return | +17.80%Best | +16.29% |
| 3Y Return (annualized) | +21.19% | +21.20%Best |
| 5Y Return (annualized) | +12.77% | +13.37%Best |
| Volatility (annualized) | 15.8% | 15.4%Best |
| Max Drawdown | -55.1%Best | -56.5% |
| $10,000 over 5 years | $18,238 | $18,728Best |
| Top 10 Weight | 44.5% | 37.8%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 14, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 17, 2006 to Sep 18, 2026 (19.8 years).
DSI 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 19.8 years both funds cover.
DSI vs SPY Performance
iShares ESG MSCI KLD 400 ETF (DSI) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DSI returned +17.80% while SPY returned +16.29%. Year to date, DSI is up 13.48% versus a gain of 12.09% for SPY.
Over three years, DSI compounded at +21.19% per year against +21.20% for SPY; over five years the annualized figures are +12.77% and +13.37% respectively. Across the full 20-year window we track, DSI has the edge at +9.58% annualized vs +9.31%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DSI has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 15.4% 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 -55.1% for DSI and -56.5% 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DSI charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, DSI currently yields 0.84% against 0.98% for SPY.
Holdings Overlap
96.0% of DSI's money is in holdings SPY also owns. 52.9% of SPY's money is in holdings DSI also owns.
Most of DSI is already inside SPY. Owning both mostly buys the same companies twice.
274 positions in common, counted across the 400 positions we hold weights for in DSI and 504 in SPY, against full books of 407 and 505.
What only one of them owns
Our book lists 227 positions for SPY that do not appear in our book for DSI (46.7% of the fund), and 102 for DSI that do not appear in SPY (3.2%).
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 DSI | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 14.08% | 8.01% | 6.07% |
| MSFTMicrosoft Corp | 9.93% | 5.66% | 4.27% |
| GOOGLAlphabet Inc,class A | 5.53% | 2.99% | 2.54% |
| GOOGAlphabet Inc | 4.35% | 2.39% | 1.96% |
| TSLATesla Inc | 2.92% | 1.52% | 1.40% |
| AMDAdvanced Micro Devices Inc | 2.13% | 1.14% | 0.99% |
| VVisa Inc Class A | 1.75% | 0.94% | 0.81% |
| MAMastercard Inc | 1.33% | 0.71% | 0.62% |
| ABBVAbbvie Inc. | 1.26% | 0.70% | 0.56% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.21% | 0.66% | 0.55% |
96.0% of DSI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DSI or SPY?
DSI has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, DSI or SPY?
Over the past year DSI returned +17.80% vs +16.29% for SPY, so DSI leads on 1-year performance. Over the longest common window we track (20 years), DSI annualized +9.58% vs +9.31% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DSI or SPY?
DSI has been the more volatile fund at 15.8% annualized versus 15.4% for SPY. Worst drawdown: DSI -55.1% vs SPY -56.5%.
Should I hold both DSI and SPY?
DSI and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DSI and SPY?
96.0% of DSI's money is in holdings SPY also owns. 52.9% of SPY's is in holdings DSI also owns. They hold 274 positions in common, counted across the 400 positions we hold weights for in DSI and 504 in SPY.
Which pays a higher dividend, DSI or SPY?
DSI yields 0.84% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than DSI?
SPY has a lower expense ratio. DSI led over 1Y and the full window, SPY over 3Y and 5Y. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 44.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.