ECAT vs SPY
BlackRock ESG Capital Allocation Term Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, ECAT or SPY?
Equity-oriented Balanced 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 | ECAT | SPY |
|---|---|---|
| Expense Ratio | 1.43% | 0.09%Best |
| AUM | $1.5B | $811.2B |
| Dividend Yield | 21.94% | 0.98% |
| Holdings | 1,008 | 1,515 |
| YTD Return | +6.60% | +14.85%Best |
| 1Y Return | +5.45% | +17.26%Best |
| 3Y Return (annualized) | +19.05% | +22.95%Best |
| 5Y Return (annualized) | +7.92% | +13.89%Best |
| Volatility (annualized) | 17.9% | 15.5%Best |
| Max Drawdown | -32.2% | -24.5%Best |
| $10,000 over 5 years | $14,639 | $19,161Best |
| Fund Family | BlackRock, Inc. (US) | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Sep 28, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 28, 2021 to Oct 9, 2026 (5 years).
ECAT 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 covers the 5 years both funds cover.
ECAT vs SPY Performance
BlackRock ESG Capital Allocation Term Trust (ECAT) 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 ECAT returned +5.45% while SPY returned +17.26%. Year to date, ECAT is up 6.60% versus a gain of 14.85% for SPY.
Over three years, ECAT compounded at +19.05% per year against +22.95% for SPY; over five years the annualized figures are +7.92% and +13.89% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ECAT has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 15.5% 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 -32.2% for ECAT and -24.5% 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ECAT charges 1.43% per year while SPY charges 0.09%. On a $10,000 position that is $143 vs $9 annually, a gap of $134 per year that compounds over a long holding period. On income, ECAT currently yields 21.94% against 0.98% for SPY.
Holdings Overlap
At least 58.1% of SPY's money is in holdings ECAT also owns.
Stated as a floor: for ECAT, our book for it covers 81.8% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 257 days apart, ECAT as of Dec 31, 2025 and SPY as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
82 positions in common, counted across the 550 positions we hold weights for in ECAT and 504 in SPY, against full books of 1,008 and 1,515.
Top Shared Holdings
| Stock | Weight in ECAT | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 4.02% | 7.78% | 3.76% |
| AAPLApple, Inc | 2.61% | 7.45% | 4.84% |
| MSFTMicrosoft Corp | 3.85% | 5.71% | 1.86% |
| GOOGAlphabet Inc. C | 3.04% | 2.49% | 0.55% |
| AMZNAmazon.Com Inc | 1.30% | 3.78% | 2.48% |
| AVGOBroadcom Inc | 1.45% | 2.48% | 1.03% |
| LLYEli Lilly & Co. | 2.13% | 1.37% | 0.76% |
| METAMeta Platforms Inc | 1.01% | 2.22% | 1.21% |
| JPMJpmorgan Chase | 1.17% | 1.43% | 0.26% |
| MUMicron Technology, Inc. | 0.96% | 1.59% | 0.63% |
58.1% of SPY is already inside ECAT.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ECAT or SPY?
ECAT has an expense ratio of 1.43% while SPY charges 0.09%. SPY is the cheaper option, by $134 a year on a $10,000 investment.
Which performed better, ECAT or SPY?
Over the past year ECAT returned +5.45% vs +17.26% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ECAT or SPY?
ECAT has been the more volatile fund at 17.9% annualized versus 15.5% for SPY. Worst drawdown: ECAT -32.2% vs SPY -24.5%.
Should I hold both ECAT and SPY?
ECAT and SPY have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ECAT and SPY?
At least 58.1% of SPY's money is in holdings ECAT also owns. Our book for ECAT is partial, so the real figure is this or higher. They hold 82 positions in common, counted across the 550 positions we hold weights for in ECAT and 504 in SPY.
Which pays a higher dividend, ECAT or SPY?
ECAT yields 21.94% while SPY yields 0.98%, so ECAT currently pays the higher dividend yield.
Is SPY better than ECAT?
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.