EUM vs SPY
ProShares Short MSCI Emerging Markets vs State Street SPDR S&P 500 ETF Trust
Which is better, EUM or SPY?
Opposite sides of the same exposure.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.69, so holding both offsets the exposure while paying both fees.
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 | EUM | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $12M | $804.7B |
| Dividend Yield | 4.24% | 0.98% |
| Holdings | 7 | 505 |
| YTD Return | -18.20% | +12.09%Best |
| 1Y Return | -22.85% | +16.29%Best |
| 3Y Return (annualized) | -16.58% | +21.20%Best |
| 5Y Return (annualized) | -6.97% | +13.37%Best |
| Volatility (annualized) | 19.5% | 15.7%Best |
| Max Drawdown | -94.0% | -55.2%Best |
| $10,000 over 5 years | $6,968 | $18,728Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Trading-Inverse Equity | Large Cap Blend |
| Inception | Oct 30, 2007 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 1, 2007 to Sep 18, 2026 (18.9 years).
EUM vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.9 years both funds cover.
EUM vs SPY Performance
ProShares Short MSCI Emerging Markets (EUM) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EUM returned -22.85% while SPY returned +16.29%. Year to date, EUM is down 18.20% versus a gain of 12.09% for SPY.
Over three years, EUM compounded at -16.58% per year against +21.20% for SPY; over five years the annualized figures are -6.97% and +13.37% respectively. Across the full 19-year window we track, SPY has the edge at +9.38% annualized vs -10.44%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EUM has been the more volatile fund, with annualized monthly volatility of 19.5% compared with 15.7% 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 -94.0% for EUM and -55.2% 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 -0.69. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
EUM charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, EUM currently yields 4.24% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in EUM and 504 in SPY, totalling 61.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in EUM and 504 in SPY, against full books of 7 and 505.
You are not choosing between two funds in isolation.
Whichever of EUM 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, EUM or SPY?
EUM has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, EUM or SPY?
Over the past year EUM returned -22.85% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), EUM annualized -10.44% vs +9.38% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EUM or SPY?
EUM has been the more volatile fund at 19.5% annualized versus 15.7% for SPY. Worst drawdown: EUM -94.0% vs SPY -55.2%.
Should I hold both EUM and SPY?
EUM and SPY have a monthly-return correlation of -0.69, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, EUM or SPY?
EUM yields 4.24% while SPY yields 0.98%, so EUM currently pays the higher dividend yield.
Is SPY better than EUM?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two move opposite each other, correlation -0.69, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.