DUSA vs SPY
Davis Select US Equity ETF 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 505 holdings.
Side-by-Side Comparison
| Metric | DUSA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $1.3B | $821.1B | |
| Dividend Yield | 0.85% | 1.01% | |
| Holdings | 27 | 505 | |
| YTD Return | +12.55% | +14.24% | |
| 1Y Return | +21.64% | +21.71% | |
| 3Y Return (annualized) | +22.28% | +22.10% | |
| 5Y Return (annualized) | +11.71% | +13.21% | |
| Volatility (annualized) | 17.8% | 15.3% | |
| Max Drawdown | -36.7% | -56.5% | |
| Fund Family | Davis ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 11, 2017 | Jan 22, 1993 |
DUSA vs SPY Performance
Davis Select US Equity ETF (DUSA) is a ETF from Davis ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DUSA returned +21.64% while SPY returned +21.71%. Year to date, DUSA is up 12.55% versus a gain of 14.24% for SPY.
Over three years, DUSA compounded at +22.28% per year against +22.10% for SPY; over five years the annualized figures are +11.71% and +13.21% respectively. Across the full 10-year window we track, DUSA has the edge at +12.96% annualized vs +8.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DUSA has been the more volatile fund, with annualized monthly volatility of 17.8% 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 -36.7% for DUSA 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DUSA charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, DUSA currently yields 0.85% against 1.01% for SPY.
Holdings Overlap
DUSA and SPY share 18 holdings out of 512 unique holdings combined, representing a 13.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DUSA or SPY?
DUSA has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, DUSA or SPY?
Over the past year DUSA returned +21.64% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), DUSA annualized +12.96% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, DUSA or SPY?
DUSA has been the more volatile fund at 17.8% annualized versus 15.3% for SPY. Worst drawdown: DUSA -36.7% vs SPY -56.5%.
Should I hold both DUSA and SPY?
DUSA and SPY have a monthly-return correlation of 0.90, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between DUSA and SPY?
DUSA and SPY share 18 common holdings with a 13.2% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, DUSA or SPY?
DUSA yields 0.85% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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