EPSV vs SPY
Harbor SMID Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EPSV delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | EPSV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.88% | 0.09% | |
| AUM | $6M | $789.1B | |
| Dividend Yield | 2.19% | 1.01% | |
| Holdings | 58 | 505 | |
| YTD Return | +30.17% | +14.47% | |
| 1Y Return | +40.18% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 13.6% | 15.3% | |
| Max Drawdown | -8.9% | -56.5% | |
| Fund Family | Harbor Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 1, 2025 | Jan 22, 1993 |
EPSV vs SPY Performance
Harbor SMID Cap Value ETF (EPSV) is a ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EPSV returned +40.18% while SPY returned +21.96%. Year to date, EPSV is up 30.17% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.6% for EPSV. 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 -8.9% for EPSV 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EPSV 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, EPSV currently yields 2.19% against 1.01% for SPY.
Holdings Overlap
EPSV and SPY share 12 holdings out of 548 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EPSV or SPY?
EPSV has an expense ratio of 0.88% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $79 per year of difference.
Which performed better, EPSV or SPY?
Over the past year EPSV returned +40.18% vs +21.96% for SPY, so EPSV leads on 1-year performance. Over the longest common window we track (1 years), EPSV annualized +44.50% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, EPSV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.6% for EPSV. Worst drawdown: EPSV -8.9% vs SPY -56.5%.
Should I hold both EPSV and SPY?
EPSV and SPY have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EPSV and SPY?
EPSV and SPY share 12 common holdings with a 0.5% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, EPSV or SPY?
EPSV yields 2.19% while SPY yields 1.01%, so EPSV currently pays the higher dividend yield.
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