EFNL vs SPY
iShares MSCI Finland ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EFNL delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EFNL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.53% | 0.09% | |
| AUM | $240M | $789.1B | |
| Dividend Yield | 1.02% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +8.65% | +13.75% | |
| 1Y Return | +28.57% | +22.91% | |
| 3Y Return (annualized) | +19.77% | +21.67% | |
| 5Y Return (annualized) | +4.28% | +13.32% | |
| Volatility (annualized) | 19.9% | 15.3% | |
| Max Drawdown | -56.0% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 25, 2012 | Jan 22, 1993 |
EFNL vs SPY Performance
iShares MSCI Finland ETF (EFNL) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EFNL returned +28.57% while SPY returned +22.91%. Year to date, EFNL is up 8.65% versus a gain of 13.75% for SPY.
Over three years, EFNL compounded at +19.77% per year against +21.67% for SPY; over five years the annualized figures are +4.28% and +13.32% respectively. Across the full 15-year window we track, SPY has the edge at +8.85% annualized vs +8.62%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EFNL has been the more volatile fund, with annualized monthly volatility of 19.9% 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 -56.0% for EFNL 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EFNL charges 0.53% per year while SPY charges 0.09%. On a $10,000 position that is $53 vs $9 annually, a gap of $44 per year that compounds over a long holding period. On income, EFNL currently yields 1.02% against 1.01% for SPY.
Holdings Overlap
EFNL and SPY share 0 holdings out of 538 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, EFNL or SPY?
EFNL has an expense ratio of 0.53% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $44 per year of difference.
Which performed better, EFNL or SPY?
Over the past year EFNL returned +28.57% vs +22.91% for SPY, so EFNL leads on 1-year performance. Over the longest common window we track (15 years), EFNL annualized +8.62% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EFNL or SPY?
EFNL has been the more volatile fund at 19.9% annualized versus 15.3% for SPY. Worst drawdown: EFNL -56.0% vs SPY -56.5%.
Should I hold both EFNL and SPY?
EFNL and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EFNL and SPY?
EFNL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 538 unique securities.
Which pays a higher dividend, EFNL or SPY?
EFNL yields 1.02% while SPY yields 1.01%, so EFNL currently pays the higher dividend yield.
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