ESIX vs SPY
State Street SPDR S&P SmallCap 600 ESG ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ESIX or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. ESIX led over 1Y, SPY over the full window. ESIX is less concentrated, with 8.3% of the fund in its ten largest positions against 37.8%.
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 | ESIX | SPY |
|---|---|---|
| Expense Ratio | 0.12% | 0.09%Best |
| AUM | $8M | $804.7B |
| Dividend Yield | 1.44% | 0.98% |
| Holdings | 435 | 505 |
| Volatility (annualized) | 20.6% | 16.0%Best |
| Max Drawdown | -28.1% | -23.4%Best |
| $10,000 over 4.3 years | $12,314 | $16,594Best |
| Top 10 Weight | 8.3%Best | 37.8% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Jan 10, 2022 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 132 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. ESIX has data through May 12, 2026 and SPY through Sep 21, 2026.
Volatility and max drawdown, and the $10,000 over 4.3 years row, are measured over the window both funds cover: Jan 11, 2022 to May 12, 2026 (4.3 years).
Risk: Volatility and Drawdowns
ESIX has been the more volatile fund, with annualized monthly volatility of 20.6% compared with 16.0% 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 -28.1% for ESIX and -23.4% 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ESIX charges 0.12% per year while SPY charges 0.09%. On a $10,000 position that is $12 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, ESIX currently yields 1.44% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 380 holdings in ESIX and 504 in SPY, totalling 99.3% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 214 days apart, ESIX as of Jan 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 380 positions we hold weights for in ESIX and 504 in SPY, against full books of 435 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for ESIX (99.3% of the fund), and 370 for ESIX that do not appear in SPY (96.9%).
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.
You are not choosing between two funds in isolation.
Whichever of ESIX and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ESIX or SPY?
ESIX has an expense ratio of 0.12% while SPY charges 0.09%. SPY is the cheaper option, by $3 a year on a $10,000 investment.
Which is riskier, ESIX or SPY?
ESIX has been the more volatile fund at 20.6% annualized versus 16.0% for SPY. Worst drawdown: ESIX -28.1% vs SPY -23.4%.
Should I hold both ESIX and SPY?
ESIX and SPY have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, ESIX or SPY?
ESIX yields 1.44% while SPY yields 0.98%, so ESIX currently pays the higher dividend yield.
Is SPY better than ESIX?
SPY has a lower expense ratio. ESIX led over 1Y, SPY over the full window. ESIX is less concentrated, with 8.3% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.