EMHC vs SPY
State Street SPDR Bloomberg Emerging Markets USD 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. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EMHC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.23% | 0.09% | |
| AUM | $284M | $789.1B | |
| Dividend Yield | 6.08% | 1.01% | |
| Holdings | 525 | 505 | |
| YTD Return | +1.31% | +14.47% | |
| 1Y Return | +5.98% | +21.96% | |
| 3Y Return (annualized) | +8.29% | +21.70% | |
| 5Y Return (annualized) | +1.17% | +13.30% | |
| Volatility (annualized) | 9.7% | 15.3% | |
| Max Drawdown | -28.0% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 6, 2021 | Jan 22, 1993 |
EMHC vs SPY Performance
State Street SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EMHC returned +5.98% while SPY returned +21.96%. Year to date, EMHC is up 1.31% versus a gain of 14.47% for SPY.
Over three years, EMHC compounded at +8.29% per year against +21.70% for SPY; over five years the annualized figures are +1.17% and +13.30% respectively. Across the full 5-year window we track, SPY has the edge at +8.87% annualized vs +1.71%. 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 9.7% for EMHC. 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 -28.0% for EMHC 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EMHC charges 0.23% per year while SPY charges 0.09%. On a $10,000 position that is $23 vs $9 annually, a gap of $14 per year that compounds over a long holding period. On income, EMHC currently yields 6.08% against 1.01% for SPY.
Holdings Overlap
EMHC and SPY share 0 holdings out of 687 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, EMHC or SPY?
EMHC has an expense ratio of 0.23% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $14 per year of difference.
Which performed better, EMHC or SPY?
Over the past year EMHC returned +5.98% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), EMHC annualized +1.71% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, EMHC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.7% for EMHC. Worst drawdown: EMHC -28.0% vs SPY -56.5%.
Should I hold both EMHC and SPY?
EMHC and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EMHC and SPY?
EMHC and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 687 unique securities.
Which pays a higher dividend, EMHC or SPY?
EMHC yields 6.08% while SPY yields 1.01%, so EMHC currently pays the higher dividend yield.
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