ETG vs SPY
Eaton Vance Tax-Advantaged Global Dividend Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ETG delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ETG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.27% | 0.09% | |
| AUM | $1.3B | $821.1B | |
| Dividend Yield | 6.00% | 1.01% | |
| Holdings | 193 | 505 | |
| YTD Return | +8.27% | +12.22% | |
| 1Y Return | +24.24% | +20.83% | |
| 3Y Return (annualized) | +22.45% | +21.70% | |
| 5Y Return (annualized) | +10.18% | +12.98% | |
| Volatility (annualized) | 21.7% | 15.3% | |
| Max Drawdown | -78.3% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jan 30, 2004 | Jan 22, 1993 |
ETG vs SPY Performance
Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) is a ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ETG returned +24.24% while SPY returned +20.83%. Year to date, ETG is up 8.27% versus a gain of 12.22% for SPY.
Over three years, ETG compounded at +22.45% per year against +21.70% for SPY; over five years the annualized figures are +10.18% and +12.98% respectively. Across the full 23-year window we track, SPY has the edge at +8.79% annualized vs +2.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ETG has been the more volatile fund, with annualized monthly volatility of 21.7% 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 -78.3% for ETG 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ETG charges 1.27% per year while SPY charges 0.09%. On a $10,000 position that is $127 vs $9 annually, a gap of $118 per year that compounds over a long holding period. On income, ETG currently yields 6.00% against 1.01% for SPY.
Holdings Overlap
ETG and SPY share 51 holdings out of 607 unique holdings combined, representing a 22.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ETG or SPY?
ETG has an expense ratio of 1.27% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $118 per year of difference.
Which performed better, ETG or SPY?
Over the past year ETG returned +24.24% vs +20.83% for SPY, so ETG leads on 1-year performance. Over the longest common window we track (23 years), ETG annualized +2.67% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, ETG or SPY?
ETG has been the more volatile fund at 21.7% annualized versus 15.3% for SPY. Worst drawdown: ETG -78.3% vs SPY -56.5%.
Should I hold both ETG and SPY?
ETG and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ETG and SPY?
ETG and SPY share 51 common holdings with a 22.8% weight overlap. Combined, they hold 607 unique securities.
Which pays a higher dividend, ETG or SPY?
ETG yields 6.00% while SPY yields 1.01%, so ETG currently pays the higher dividend yield.
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