ENZL vs SPY
iShares MSCI New Zealand 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 | ENZL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $82M | $821.1B | |
| Dividend Yield | 2.14% | 1.01% | |
| Holdings | 31 | 505 | |
| YTD Return | +5.11% | +14.24% | |
| 1Y Return | +6.22% | +21.71% | |
| 3Y Return (annualized) | +3.01% | +22.10% | |
| 5Y Return (annualized) | -2.78% | +13.21% | |
| Volatility (annualized) | 18.1% | 15.3% | |
| Max Drawdown | -42.4% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 1, 2010 | Jan 22, 1993 |
ENZL vs SPY Performance
iShares MSCI New Zealand ETF (ENZL) 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 ENZL returned +6.22% while SPY returned +21.71%. Year to date, ENZL is up 5.11% versus a gain of 14.24% for SPY.
Over three years, ENZL compounded at +3.01% per year against +22.10% for SPY; over five years the annualized figures are -2.78% and +13.21% respectively. Across the full 16-year window we track, SPY has the edge at +8.86% annualized vs +4.61%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ENZL has been the more volatile fund, with annualized monthly volatility of 18.1% 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 -42.4% for ENZL 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ENZL charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, ENZL currently yields 2.14% against 1.01% for SPY.
Holdings Overlap
ENZL and SPY share 0 holdings out of 530 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, ENZL or SPY?
ENZL has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, ENZL or SPY?
Over the past year ENZL returned +6.22% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), ENZL annualized +4.61% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, ENZL or SPY?
ENZL has been the more volatile fund at 18.1% annualized versus 15.3% for SPY. Worst drawdown: ENZL -42.4% vs SPY -56.5%.
Should I hold both ENZL and SPY?
ENZL and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ENZL and SPY?
ENZL and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 530 unique securities.
Which pays a higher dividend, ENZL or SPY?
ENZL yields 2.14% while SPY yields 1.01%, so ENZL currently pays the higher dividend yield.
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