EFV vs SPY
iShares MSCI EAFE Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EFV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. EFV led over 1Y, 3Y and 5Y, SPY over the full window. EFV is less concentrated, with 19.2% of the fund in its ten largest positions against 38.0%.
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 | EFV | SPY |
|---|---|---|
| Expense Ratio | 0.31% | 0.09%Best |
| AUM | $31.7B | $804.7B |
| Dividend Yield | 4.47% | 0.98% |
| Holdings | 427 | 505 |
| YTD Return | +12.83%Best | +11.52% |
| 1Y Return | +23.44%Best | +17.48% |
| 3Y Return (annualized) | +22.26%Best | +20.62% |
| 5Y Return (annualized) | +13.82%Best | +12.73% |
| Volatility (annualized) | 36.1% | 15.0%Best |
| Max Drawdown | -74.5% | -56.5%Best |
| $10,000 over 5 years | $19,103Best | $18,205 |
| Top 10 Weight | 19.2%Best | 38.0% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 1, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 5, 2005 to Sep 10, 2026 (21.1 years).
EFV 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 21.1 years both funds cover.
EFV vs SPY Performance
iShares MSCI EAFE Value ETF (EFV) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EFV returned +23.44% while SPY returned +17.48%. Year to date, EFV is up 12.83% versus a gain of 11.52% for SPY.
Over three years, EFV compounded at +22.26% per year against +20.62% for SPY; over five years the annualized figures are +13.82% and +12.73% respectively. Across the full 21-year window we track, SPY has the edge at +9.39% annualized vs +6.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EFV has been the more volatile fund, with annualized monthly volatility of 36.1% compared with 15.0% 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 -74.5% for EFV and -56.5% 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 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EFV charges 0.31% per year while SPY charges 0.09%. On a $10,000 position that is $31 vs $9 annually, a gap of $22 per year that compounds over a long holding period. On income, EFV currently yields 4.47% against 0.98% for SPY.
Holdings Overlap
2.0% of EFV's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings EFV also owns.
EFV and SPY share little of their money.
2 positions in common, counted across the 404 positions we hold weights for in EFV and 504 in SPY, against full books of 427 and 505.
What only one of them owns
Our book lists 492 positions for SPY that do not appear in our book for EFV (99.0% of the fund), and 9 for EFV that do not appear in SPY (3.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of EFV and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EFV or SPY?
EFV has an expense ratio of 0.31% while SPY charges 0.09%. SPY is the cheaper option, by $22 a year on a $10,000 investment.
Which performed better, EFV or SPY?
Over the past year EFV returned +23.44% vs +17.48% for SPY, so EFV leads on 1-year performance. Over the longest common window we track (21 years), EFV annualized +6.25% vs +9.39% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EFV or SPY?
EFV has been the more volatile fund at 36.1% annualized versus 15.0% for SPY. Worst drawdown: EFV -74.5% vs SPY -56.5%.
Should I hold both EFV and SPY?
EFV and SPY have a monthly-return correlation of 0.40, 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 EFV and SPY?
2.0% of EFV's money is in holdings SPY also owns. 0.5% of SPY's is in holdings EFV also owns. They hold 2 positions in common, counted across the 404 positions we hold weights for in EFV and 504 in SPY.
Which pays a higher dividend, EFV or SPY?
EFV yields 4.47% while SPY yields 0.98%, so EFV currently pays the higher dividend yield.
Is SPY better than EFV?
SPY has a lower expense ratio. EFV led over 1Y, 3Y and 5Y, SPY over the full window. EFV is less concentrated, with 19.2% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.