EXUS vs SPY
Nomura Focused International Core ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EXUS or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.1%.
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 | EXUS | SPY |
|---|---|---|
| Expense Ratio | 0.59% | 0.09%Best |
| AUM | $98M | $804.7B |
| Dividend Yield | 0.03% | 0.98% |
| Holdings | 860 | 505 |
| YTD Return | +6.80% | +12.99%Best |
| 1Y Return | +6.97% | +16.73%Best |
| 3Y Return (annualized) | - | +22.52% |
| 5Y Return (annualized) | - | +13.07% |
| Volatility (annualized) | 16.3% | 11.8%Best |
| Max Drawdown | -15.3% | -8.9%Best |
| $10,000 over 1.3 years | $11,357 | $13,128Best |
| Top 10 Weight | 41.1% | 37.8%Best |
| Fund Family | Macquarie Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 17, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 18, 2025 to Sep 23, 2026 (1.3 years).
EXUS 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 1.3 years both funds cover.
EXUS vs SPY Performance
Nomura Focused International Core ETF (EXUS) is an ETF from Macquarie Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EXUS returned +6.97% while SPY returned +16.73%. Year to date, EXUS is up 6.80% versus a gain of 12.99% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EXUS has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 11.8% 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 -15.3% for EXUS and -8.9% 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EXUS 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, EXUS currently yields 0.03% against 0.98% for SPY.
Holdings Overlap
2.4% of EXUS's money is in holdings SPY also owns. 0.4% of SPY's money is in holdings EXUS also owns.
EXUS and SPY share little of their money.
2 positions in common, counted across the 42 positions we hold weights for in EXUS and 504 in SPY, against full books of 860 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for EXUS (99.0% of the fund), and 3 for EXUS that do not appear in SPY (6.0%).
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 EXUS 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, EXUS or SPY?
EXUS has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option, by $50 a year on a $10,000 investment.
Which performed better, EXUS or SPY?
Over the past year EXUS returned +6.97% vs +16.73% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), EXUS annualized +10.28% vs +23.29% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EXUS or SPY?
EXUS has been the more volatile fund at 16.3% annualized versus 11.8% for SPY. Worst drawdown: EXUS -15.3% vs SPY -8.9%.
Should I hold both EXUS and SPY?
EXUS and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EXUS and SPY?
2.4% of EXUS's money is in holdings SPY also owns. 0.4% of SPY's is in holdings EXUS also owns. They hold 2 positions in common, counted across the 42 positions we hold weights for in EXUS and 504 in SPY.
Which pays a higher dividend, EXUS or SPY?
EXUS yields 0.03% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than EXUS?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.