EBND vs SPY
State Street SPDR Bloomberg Emerging Markets Local Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. EBND offers more diversification with 653 holdings.
Side-by-Side Comparison
| Metric | EBND | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.09% | |
| AUM | $2.3B | $821.1B | |
| Dividend Yield | 5.84% | 1.01% | |
| Holdings | 653 | 505 | |
| YTD Return | +2.07% | +13.70% | |
| 1Y Return | +5.30% | +21.44% | |
| 3Y Return (annualized) | +6.62% | +22.50% | |
| 5Y Return (annualized) | +1.13% | +13.24% | |
| Volatility (annualized) | 10.1% | 15.3% | |
| Max Drawdown | -41.0% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 23, 2011 | Jan 22, 1993 |
EBND vs SPY Performance
State Street SPDR Bloomberg Emerging Markets Local Bond ETF (EBND) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EBND returned +5.30% while SPY returned +21.44%. Year to date, EBND is up 2.07% versus a gain of 13.70% for SPY.
Over three years, EBND compounded at +6.62% per year against +22.50% for SPY; over five years the annualized figures are +1.13% and +13.24% respectively. Across the full 16-year window we track, SPY has the edge at +8.84% annualized vs -0.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.1% for EBND. 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 -41.0% for EBND 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EBND charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, EBND currently yields 5.84% against 1.01% for SPY.
Holdings Overlap
EBND and SPY share 0 holdings out of 506 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, EBND or SPY?
EBND has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $21 per year of difference.
Which performed better, EBND or SPY?
Over the past year EBND returned +5.30% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), EBND annualized -0.55% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, EBND or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.1% for EBND. Worst drawdown: EBND -41.0% vs SPY -56.5%.
Should I hold both EBND and SPY?
EBND and SPY have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EBND and SPY?
EBND and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, EBND or SPY?
EBND yields 5.84% while SPY yields 1.01%, so EBND currently pays the higher dividend yield.
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