DVIN vs SPY
WEBs Industrials XLI Defined Volatility ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DVIN delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DVIN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | |
| AUM | $311,216 | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +17.78% | +13.39% | |
| 1Y Return | +32.23% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 23.7% | 15.3% | |
| Max Drawdown | -18.5% | -56.5% | |
| Fund Family | WEBs Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 22, 2025 | Jan 22, 1993 |
DVIN vs SPY Performance
WEBs Industrials XLI Defined Volatility ETF (DVIN) is a ETF from WEBs Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DVIN returned +32.23% while SPY returned +22.52%. Year to date, DVIN is up 17.78% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
DVIN has been the more volatile fund, with annualized monthly volatility of 23.7% 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 -18.5% for DVIN 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 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DVIN charges 0.89% per year while SPY charges 0.09%. On a $10,000 position that is $89 vs $9 annually, a gap of $80 per year that compounds over a long holding period. On income, DVIN currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
DVIN and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DVIN or SPY?
DVIN has an expense ratio of 0.89% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, DVIN or SPY?
Over the past year DVIN returned +32.23% vs +22.52% for SPY, so DVIN leads on 1-year performance. Over the longest common window we track (1 years), DVIN annualized +24.61% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, DVIN or SPY?
DVIN has been the more volatile fund at 23.7% annualized versus 15.3% for SPY. Worst drawdown: DVIN -18.5% vs SPY -56.5%.
Should I hold both DVIN and SPY?
DVIN and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DVIN and SPY?
DVIN and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, DVIN or SPY?
DVIN yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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