DVXV vs SPY
WEBs Health Care XLV Defined Volatility 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 | DVXV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | |
| AUM | $338,945 | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -21.69% | +13.21% | |
| 1Y Return | -0.39% | +19.87% | |
| 3Y Return (annualized) | - | +21.16% | |
| 5Y Return (annualized) | - | +12.74% | |
| Volatility (annualized) | 34.5% | 15.3% | |
| Max Drawdown | -31.5% | -56.5% | |
| Fund Family | WEBs Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 22, 2025 | Jan 22, 1993 |
DVXV vs SPY Performance
WEBs Health Care XLV Defined Volatility ETF (DVXV) 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 DVXV returned -0.39% while SPY returned +19.87%. Year to date, DVXV is down 21.69% versus a gain of 13.21% for SPY.
Risk: Volatility and Drawdowns
DVXV has been the more volatile fund, with annualized monthly volatility of 34.5% 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 -31.5% for DVXV 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 -0.01. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DVXV 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, DVXV currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
DVXV and SPY share 0 holdings out of 505 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, DVXV or SPY?
DVXV 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, DVXV or SPY?
Over the past year DVXV returned -0.39% vs +19.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), DVXV annualized -0.81% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, DVXV or SPY?
DVXV has been the more volatile fund at 34.5% annualized versus 15.3% for SPY. Worst drawdown: DVXV -31.5% vs SPY -56.5%.
Should I hold both DVXV and SPY?
DVXV and SPY have a monthly-return correlation of -0.01, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DVXV and SPY?
DVXV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, DVXV or SPY?
DVXV yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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