EPMV vs SPY
Harbor Mid Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EPMV or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. EPMV is less concentrated, with 25.7% 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 | EPMV | SPY |
|---|---|---|
| Expense Ratio | 0.88% | 0.09%Best |
| AUM | $5M | $814.4B |
| Dividend Yield | 1.25% | 1.01% |
| Holdings | 61 | 505 |
| YTD Return | +14.93%Best | +12.71% |
| 1Y Return | +17.47% | +19.36%Best |
| 3Y Return (annualized) | - | +21.09% |
| 5Y Return (annualized) | - | +12.69% |
| Volatility (annualized) | 11.8%Best | 11.9% |
| Max Drawdown | -8.8%Best | -8.9% |
| $10,000 over 1.4 years | $13,373 | $13,857Best |
| Top 10 Weight | 25.7%Best | 38.0% |
| Fund Family | Harbor Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | May 1, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 2, 2025 to Sep 8, 2026 (1.4 years).
EPMV 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 1.4 years both funds cover.
EPMV vs SPY Performance
Harbor Mid Cap Value ETF (EPMV) is an ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EPMV returned +17.47% while SPY returned +19.36%. Year to date, EPMV is up 14.93% versus a gain of 12.71% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 11.8% for EPMV. 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 -8.8% for EPMV and -8.9% 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 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EPMV charges 0.88% per year while SPY charges 0.09%. On a $10,000 position that is $88 vs $9 annually, a gap of $79 per year that compounds over a long holding period. On income, EPMV currently yields 1.25% against 1.01% for SPY.
Holdings Overlap
61.8% of EPMV's money is in holdings SPY also owns. 2.9% of SPY's money is in holdings EPMV also owns.
The two portfolios partly overlap.
36 positions in common, counted across the 60 positions we hold weights for in EPMV and 503 in SPY, against full books of 61 and 505.
What only one of them owns
Our book lists 457 positions for SPY that do not appear in our book for EPMV (96.5% of the fund), and 22 for EPMV that do not appear in SPY (31.4%).
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.
Top Shared Holdings
| Stock | Weight in EPMV | Weight in SPY | Difference |
|---|---|---|---|
| CMICummins Inc. | 3.19% | 0.13% | 3.06% |
| AMATApplied Materials, Inc. | 2.26% | 0.65% | 1.61% |
| ONOn Semiconductor Corp | 2.54% | 0.05% | 2.49% |
| RJFRaymond James Financial Inc. | 2.41% | 0.05% | 2.36% |
| IQVI Q V I A Holdings Inc. | 2.34% | 0.06% | 2.28% |
| ICEInterContinental Hotels Group PLC Ord Gbp0.208521303 | 2.27% | 0.13% | 2.14% |
| SNPSSynopsys Inc Common Stock Usd 0.01 | 2.20% | 0.12% | 2.08% |
| DRIDarden Restaurants Inc. | 2.25% | 0.04% | 2.21% |
| CSXCsx Corp - Common Sr 9 | 2.06% | 0.14% | 1.92% |
| RCLRoyal Caribbean Cruises Ltd | 1.98% | 0.12% | 1.86% |
61.8% of EPMV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EPMV or SPY?
EPMV has an expense ratio of 0.88% while SPY charges 0.09%. SPY is the cheaper option, by $79 a year on a $10,000 investment.
Which performed better, EPMV or SPY?
Over the past year EPMV returned +17.47% vs +19.36% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), EPMV annualized +23.07% vs +26.24% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EPMV or SPY?
SPY has been the more volatile fund at 11.9% annualized versus 11.8% for EPMV. Worst drawdown: EPMV -8.8% vs SPY -8.9%.
Should I hold both EPMV and SPY?
EPMV and SPY have a monthly-return correlation of 0.67, 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 EPMV and SPY?
61.8% of EPMV's money is in holdings SPY also owns. 2.9% of SPY's is in holdings EPMV also owns. They hold 36 positions in common, counted across the 60 positions we hold weights for in EPMV and 503 in SPY.
Which pays a higher dividend, EPMV or SPY?
EPMV yields 1.25% while SPY yields 1.01%, so EPMV currently pays the higher dividend yield.
Is SPY better than EPMV?
SPY has a lower expense ratio. SPY led over 1Y and the full window. EPMV is less concentrated, with 25.7% 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.