EUSA vs SPY
iShares MSCI USA Equal Weighted ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
EUSA has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EUSA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $1.8B | $789.1B | |
| Dividend Yield | 1.45% | 1.01% | |
| Holdings | 534 | 505 | |
| YTD Return | +14.76% | +13.68% | |
| 1Y Return | +19.63% | +21.53% | |
| 3Y Return (annualized) | +16.00% | +21.44% | |
| 5Y Return (annualized) | +8.14% | +13.18% | |
| Volatility (annualized) | 15.4% | 15.3% | |
| Max Drawdown | -39.2% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 5, 2010 | Jan 22, 1993 |
EUSA vs SPY Performance
iShares MSCI USA Equal Weighted ETF (EUSA) 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 EUSA returned +19.63% while SPY returned +21.53%. Year to date, EUSA is up 14.76% versus a gain of 13.68% for SPY.
Over three years, EUSA compounded at +16.00% per year against +21.44% for SPY; over five years the annualized figures are +8.14% and +13.18% respectively. Across the full 16-year window we track, EUSA has the edge at +11.00% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EUSA has been the more volatile fund, with annualized monthly volatility of 15.4% 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 -39.2% for EUSA 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EUSA charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, EUSA currently yields 1.45% against 1.01% for SPY.
Holdings Overlap
EUSA and SPY share 412 holdings out of 585 unique holdings combined, representing a 40.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EUSA or SPY?
EUSA has an expense ratio of 0.09% while SPY charges 0.09%. EUSA is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, EUSA or SPY?
Over the past year EUSA returned +19.63% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), EUSA annualized +11.00% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EUSA or SPY?
EUSA has been the more volatile fund at 15.4% annualized versus 15.3% for SPY. Worst drawdown: EUSA -39.2% vs SPY -56.5%.
Should I hold both EUSA and SPY?
EUSA and SPY have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between EUSA and SPY?
EUSA and SPY share 412 common holdings with a 40.2% weight overlap. Combined, they hold 585 unique securities.
Which pays a higher dividend, EUSA or SPY?
EUSA yields 1.45% while SPY yields 1.01%, so EUSA currently pays the higher dividend yield.
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