EFRA vs SPY
iShares Environmental Infrastructure and Industrials 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 | EFRA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.47% | 0.09% | |
| AUM | $6M | $821.1B | |
| Dividend Yield | 4.07% | 1.01% | |
| Holdings | 101 | 505 | |
| YTD Return | +9.05% | +13.17% | |
| 1Y Return | +10.61% | +21.53% | |
| 3Y Return (annualized) | +12.88% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -17.9% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 1, 2022 | Jan 22, 1993 |
EFRA vs SPY Performance
iShares Environmental Infrastructure and Industrials ETF (EFRA) 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 EFRA returned +10.61% while SPY returned +21.53%. Year to date, EFRA is up 9.05% versus a gain of 13.17% for SPY.
Over three years, EFRA compounded at +12.88% per year against +22.06% for SPY. Across the full 4-year window we track, EFRA has the edge at +13.89% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EFRA has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -17.9% for EFRA 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EFRA charges 0.47% per year while SPY charges 0.09%. On a $10,000 position that is $47 vs $9 annually, a gap of $38 per year that compounds over a long holding period. On income, EFRA currently yields 4.07% against 1.01% for SPY.
Holdings Overlap
EFRA and SPY share 6 holdings out of 578 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EFRA or SPY?
EFRA has an expense ratio of 0.47% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, EFRA or SPY?
Over the past year EFRA returned +10.61% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), EFRA annualized +13.89% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, EFRA or SPY?
EFRA has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: EFRA -17.9% vs SPY -56.5%.
Should I hold both EFRA and SPY?
EFRA and SPY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EFRA and SPY?
EFRA and SPY share 6 common holdings with a 0.3% weight overlap. Combined, they hold 578 unique securities.
Which pays a higher dividend, EFRA or SPY?
EFRA yields 4.07% while SPY yields 1.01%, so EFRA currently pays the higher dividend yield.
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