EQTY vs SPY
Kovitz Core Equity 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 503 holdings.
Side-by-Side Comparison
| Metric | EQTY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $1.4B | $789.1B | |
| Dividend Yield | 0.02% | 1.01% | |
| Holdings | 53 | 505 | |
| YTD Return | +10.84% | +13.75% | |
| 1Y Return | +17.12% | +22.91% | |
| 3Y Return (annualized) | +16.74% | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 13.1% | 15.3% | |
| Max Drawdown | -17.3% | -56.5% | |
| Fund Family | Kovitz Investment Group | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 28, 2011 | Jan 22, 1993 |
EQTY vs SPY Performance
Kovitz Core Equity ETF (EQTY) is a ETF from Kovitz Investment Group and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EQTY returned +17.12% while SPY returned +22.91%. Year to date, EQTY is up 10.84% versus a gain of 13.75% for SPY.
Over three years, EQTY compounded at +16.74% per year against +21.67% for SPY. Across the full 4-year window we track, EQTY has the edge at +18.17% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.1% for EQTY. 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 -17.3% for EQTY 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EQTY charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, EQTY currently yields 0.02% against 1.01% for SPY.
Holdings Overlap
EQTY and SPY share 42 holdings out of 512 unique holdings combined, representing a 24.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EQTY or SPY?
EQTY has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, EQTY or SPY?
Over the past year EQTY returned +17.12% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), EQTY annualized +18.17% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EQTY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.1% for EQTY. Worst drawdown: EQTY -17.3% vs SPY -56.5%.
Should I hold both EQTY and SPY?
EQTY and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EQTY and SPY?
EQTY and SPY share 42 common holdings with a 24.6% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, EQTY or SPY?
EQTY yields 0.02% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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