EPU vs SPY
iShares MSCI Peru and Global Exposure ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EPU delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EPU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $536M | $789.1B | |
| Dividend Yield | 2.04% | 1.01% | |
| Holdings | 34 | 505 | |
| YTD Return | +23.14% | +14.47% | |
| 1Y Return | +72.36% | +21.96% | |
| 3Y Return (annualized) | +45.02% | +21.70% | |
| 5Y Return (annualized) | +32.69% | +13.30% | |
| Volatility (annualized) | 24.6% | 15.3% | |
| Max Drawdown | -64.6% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 19, 2009 | Jan 22, 1993 |
EPU vs SPY Performance
iShares MSCI Peru and Global Exposure ETF (EPU) 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 EPU returned +72.36% while SPY returned +21.96%. Year to date, EPU is up 23.14% versus a gain of 14.47% for SPY.
Over three years, EPU compounded at +45.02% per year against +21.70% for SPY; over five years the annualized figures are +32.69% and +13.30% respectively. Across the full 17-year window we track, EPU has the edge at +9.18% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EPU has been the more volatile fund, with annualized monthly volatility of 24.6% 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 -64.6% for EPU 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 0.51. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EPU charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, EPU currently yields 2.04% against 1.01% for SPY.
Holdings Overlap
EPU and SPY share 0 holdings out of 529 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, EPU or SPY?
EPU has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, EPU or SPY?
Over the past year EPU returned +72.36% vs +21.96% for SPY, so EPU leads on 1-year performance. Over the longest common window we track (17 years), EPU annualized +9.18% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, EPU or SPY?
EPU has been the more volatile fund at 24.6% annualized versus 15.3% for SPY. Worst drawdown: EPU -64.6% vs SPY -56.5%.
Should I hold both EPU and SPY?
EPU and SPY have a monthly-return correlation of 0.51, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EPU and SPY?
EPU and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, EPU or SPY?
EPU yields 2.04% while SPY yields 1.01%, so EPU currently pays the higher dividend yield.
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