EMO vs SPY
ClearBridge Energy Midstream Opportunity Fund Inc. vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EMO delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EMO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.37% | 0.09% | |
| AUM | $1.2B | $821.1B | |
| Dividend Yield | 7.36% | 1.01% | |
| Holdings | 20 | 505 | |
| YTD Return | +24.62% | +14.24% | |
| 1Y Return | +22.01% | +21.71% | |
| 3Y Return (annualized) | +30.20% | +22.10% | |
| 5Y Return (annualized) | +30.37% | +13.21% | |
| Volatility (annualized) | 41.8% | 15.3% | |
| Max Drawdown | -97.2% | -56.5% | |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 13, 2011 | Jan 22, 1993 |
EMO vs SPY Performance
ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) is a ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EMO returned +22.01% while SPY returned +21.71%. Year to date, EMO is up 24.62% versus a gain of 14.24% for SPY.
Over three years, EMO compounded at +30.20% per year against +22.10% for SPY; over five years the annualized figures are +30.37% and +13.21% respectively. Across the full 15-year window we track, SPY has the edge at +8.86% annualized vs -1.25%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMO has been the more volatile fund, with annualized monthly volatility of 41.8% 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 -97.2% for EMO 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 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EMO charges 3.37% per year while SPY charges 0.09%. On a $10,000 position that is $337 vs $9 annually, a gap of $328 per year that compounds over a long holding period. On income, EMO currently yields 7.36% against 1.01% for SPY.
Holdings Overlap
EMO and SPY share 4 holdings out of 520 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EMO or SPY?
EMO has an expense ratio of 3.37% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $328 per year of difference.
Which performed better, EMO or SPY?
Over the past year EMO returned +22.01% vs +21.71% for SPY, so EMO leads on 1-year performance. Over the longest common window we track (15 years), EMO annualized -1.25% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, EMO or SPY?
EMO has been the more volatile fund at 41.8% annualized versus 15.3% for SPY. Worst drawdown: EMO -97.2% vs SPY -56.5%.
Should I hold both EMO and SPY?
EMO and SPY have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EMO and SPY?
EMO and SPY share 4 common holdings with a 0.4% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, EMO or SPY?
EMO yields 7.36% while SPY yields 1.01%, so EMO currently pays the higher dividend yield.
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