EZU vs SPY
iShares MSCI Eurozone 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 505 holdings.
Side-by-Side Comparison
| Metric | EZU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $10.0B | $821.1B | |
| Dividend Yield | 2.64% | 1.01% | |
| Holdings | 228 | 505 | |
| YTD Return | +9.97% | +12.68% | |
| 1Y Return | +19.18% | +21.82% | |
| 3Y Return (annualized) | +19.98% | +21.98% | |
| 5Y Return (annualized) | +9.95% | +12.89% | |
| Volatility (annualized) | 21.0% | 15.3% | |
| Max Drawdown | -69.8% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 25, 2000 | Jan 22, 1993 |
EZU vs SPY Performance
iShares MSCI Eurozone ETF (EZU) 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 EZU returned +19.18% while SPY returned +21.82%. Year to date, EZU is up 9.97% versus a gain of 12.68% for SPY.
Over three years, EZU compounded at +19.98% per year against +21.98% for SPY; over five years the annualized figures are +9.95% and +12.89% respectively. Across the full 26-year window we track, SPY has the edge at +8.81% annualized vs +5.50%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EZU has been the more volatile fund, with annualized monthly volatility of 21.0% 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 -69.8% for EZU 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EZU charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, EZU currently yields 2.64% against 1.01% for SPY.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, EZU or SPY?
EZU has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, EZU or SPY?
Over the past year EZU returned +19.18% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (26 years), EZU annualized +5.50% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, EZU or SPY?
EZU has been the more volatile fund at 21.0% annualized versus 15.3% for SPY. Worst drawdown: EZU -69.8% vs SPY -56.5%.
Should I hold both EZU and SPY?
EZU and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EZU and SPY?
EZU and SPY share 2 common holdings with a 0.3% weight overlap. Combined, they hold 722 unique securities.
Which pays a higher dividend, EZU or SPY?
EZU yields 2.64% while SPY yields 1.01%, so EZU currently pays the higher dividend yield.
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