FDEV vs SPY
Fidelity International Multifactor 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 | FDEV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $283M | $821.1B | |
| Dividend Yield | 2.94% | 1.01% | |
| Holdings | 212 | 505 | |
| YTD Return | +8.78% | +14.24% | |
| 1Y Return | +15.91% | +21.71% | |
| 3Y Return (annualized) | +16.60% | +22.10% | |
| 5Y Return (annualized) | +7.36% | +13.21% | |
| Volatility (annualized) | 13.9% | 15.3% | |
| Max Drawdown | -30.1% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 26, 2019 | Jan 22, 1993 |
FDEV vs SPY Performance
Fidelity International Multifactor ETF (FDEV) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FDEV returned +15.91% while SPY returned +21.71%. Year to date, FDEV is up 8.78% versus a gain of 14.24% for SPY.
Over three years, FDEV compounded at +16.60% per year against +22.10% for SPY; over five years the annualized figures are +7.36% and +13.21% respectively. Across the full 8-year window we track, SPY has the edge at +8.86% annualized vs +8.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.9% for FDEV. 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 -30.1% for FDEV 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FDEV charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FDEV currently yields 2.94% against 1.01% for SPY.
Holdings Overlap
FDEV and SPY share 0 holdings out of 704 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, FDEV or SPY?
FDEV has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, FDEV or SPY?
Over the past year FDEV returned +15.91% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), FDEV annualized +8.41% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, FDEV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.9% for FDEV. Worst drawdown: FDEV -30.1% vs SPY -56.5%.
Should I hold both FDEV and SPY?
FDEV and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FDEV and SPY?
FDEV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 704 unique securities.
Which pays a higher dividend, FDEV or SPY?
FDEV yields 2.94% while SPY yields 1.01%, so FDEV currently pays the higher dividend yield.
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