DSU vs SPY
Blackrock Debt Strategies Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Which is better, DSU or SPY?
Bank Loan against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | DSU | SPY |
|---|---|---|
| Expense Ratio | 1.72% | 0.09%Best |
| AUM | $619M | $804.7B |
| Dividend Yield | 12.39% | 0.98% |
| Holdings | 1,281 | 505 |
| YTD Return | -2.04% | +12.09%Best |
| 1Y Return | -2.33% | +16.29%Best |
| 3Y Return (annualized) | +7.47% | +21.20%Best |
| 5Y Return (annualized) | +5.52% | +13.37%Best |
| Volatility (annualized) | 17.9% | 15.3%Best |
| Max Drawdown | -84.1% | -56.5%Best |
| $10,000 over 5 years | $13,082 | $18,728Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Bank Loan | Large Cap Blend |
| Inception | Mar 27, 1998 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Mar 30, 1998 to Sep 18, 2026 (28.5 years).
DSU 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
DSU vs SPY Performance
Blackrock Debt Strategies Fund Inc. (DSU) is an ETF from BlackRock, Inc. (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DSU returned -2.33% while SPY returned +16.29%. Year to date, DSU is down 2.04% versus a gain of 12.09% for SPY.
Over three years, DSU compounded at +7.47% per year against +21.20% for SPY; over five years the annualized figures are +5.52% and +13.37% respectively. Across the full 29-year window we track, SPY has the edge at +7.33% annualized vs -2.29%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DSU has been the more volatile fund, with annualized monthly volatility of 17.9% 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 -84.1% for DSU 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 0.53. They move together some of the time, and apart the rest.
Fees and Cost Over Time
DSU charges 1.72% per year while SPY charges 0.09%. On a $10,000 position that is $172 vs $9 annually, a gap of $163 per year that compounds over a long holding period. On income, DSU currently yields 12.39% against 0.98% for SPY.
Holdings Overlap
At least 0.3% of SPY's money is in holdings DSU also owns.
Stated as a floor: for DSU, our book for it covers 76.8% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 244 days apart, DSU as of Dec 31, 2025 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 898 positions we hold weights for in DSU and 504 in SPY, against full books of 1,281 and 505.
Top Shared Holdings
| Stock | Weight in DSU | Weight in SPY | Difference |
|---|---|---|---|
| CCitigroup Inc. | 0.01% | 0.34% | 0.33% |
You are not choosing between two funds in isolation.
Whichever of DSU 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, DSU or SPY?
DSU has an expense ratio of 1.72% while SPY charges 0.09%. SPY is the cheaper option, by $163 a year on a $10,000 investment.
Which performed better, DSU or SPY?
Over the past year DSU returned -2.33% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (29 years), DSU annualized -2.29% vs +7.33% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DSU or SPY?
DSU has been the more volatile fund at 17.9% annualized versus 15.3% for SPY. Worst drawdown: DSU -84.1% vs SPY -56.5%.
Should I hold both DSU and SPY?
DSU and SPY have a monthly-return correlation of 0.53, 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, DSU or SPY?
DSU yields 12.39% while SPY yields 0.98%, so DSU currently pays the higher dividend yield.
Is SPY better than DSU?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.