EWUS vs SPY
iShares MSCI United Kingdom Small-Cap 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 | EWUS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $41M | $789.1B | |
| Dividend Yield | 3.26% | 1.01% | |
| Holdings | 206 | 505 | |
| YTD Return | +8.95% | +13.39% | |
| 1Y Return | +14.67% | +22.52% | |
| 3Y Return (annualized) | +14.63% | +21.36% | |
| 5Y Return (annualized) | +1.25% | +13.19% | |
| Volatility (annualized) | 32.9% | 15.3% | |
| Max Drawdown | -49.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 25, 2012 | Jan 22, 1993 |
EWUS vs SPY Performance
iShares MSCI United Kingdom Small-Cap ETF (EWUS) 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 EWUS returned +14.67% while SPY returned +22.52%. Year to date, EWUS is up 8.95% versus a gain of 13.39% for SPY.
Over three years, EWUS compounded at +14.63% per year against +21.36% for SPY; over five years the annualized figures are +1.25% and +13.19% respectively. Across the full 15-year window we track, SPY has the edge at +8.84% annualized vs +6.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWUS has been the more volatile fund, with annualized monthly volatility of 32.9% 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 -49.3% for EWUS 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 0.46. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EWUS charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, EWUS currently yields 3.26% against 1.01% for SPY.
Holdings Overlap
EWUS and SPY share 0 holdings out of 703 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EWUS or SPY?
EWUS has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, EWUS or SPY?
Over the past year EWUS returned +14.67% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), EWUS annualized +6.85% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, EWUS or SPY?
EWUS has been the more volatile fund at 32.9% annualized versus 15.3% for SPY. Worst drawdown: EWUS -49.3% vs SPY -56.5%.
Should I hold both EWUS and SPY?
EWUS and SPY have a monthly-return correlation of 0.46, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EWUS and SPY?
EWUS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 703 unique securities.
Which pays a higher dividend, EWUS or SPY?
EWUS yields 3.26% while SPY yields 1.01%, so EWUS currently pays the higher dividend yield.
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