FDVV vs SPY
Fidelity High Dividend ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FDVV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. FDVV led over 1Y and 5Y, SPY over 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. FDVV is less concentrated, with 35.7% of the fund in its ten largest positions against 37.8%.
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 | FDVV | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $10.2B | $804.7B |
| Dividend Yield | 2.73% | 0.98% |
| Holdings | 100 | 505 |
| YTD Return | +11.49%Best | +11.45% |
| 1Y Return | +16.13%Best | +15.87% |
| 3Y Return (annualized) | +19.55% | +20.93%Best |
| 5Y Return (annualized) | +13.99%Best | +12.59% |
| Volatility (annualized) | 16.0% | 15.4%Best |
| Max Drawdown | -41.1% | -34.1%Best |
| $10,000 over 5 years | $19,246Best | $18,093 |
| Top 10 Weight | 35.7%Best | 37.8% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 12, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 15, 2016 to Sep 15, 2026 (10 years).
FDVV 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 10 years both funds cover.
FDVV vs SPY Performance
Fidelity High Dividend ETF (FDVV) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FDVV returned +16.13% while SPY returned +15.87%. Year to date, FDVV is up 11.49% versus a gain of 11.45% for SPY.
Over three years, FDVV compounded at +19.55% per year against +20.93% for SPY; over five years the annualized figures are +13.99% and +12.59% respectively. Across the full 10-year window we track, SPY has the edge at +14.25% annualized vs +11.55%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FDVV has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.4% 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 -41.1% for FDVV and -34.1% 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FDVV charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, FDVV currently yields 2.73% against 0.98% for SPY.
Holdings Overlap
87.2% of FDVV's money is in holdings SPY also owns. 46.2% of SPY's money is in holdings FDVV also owns.
Most of FDVV is already inside SPY. Owning both mostly buys the same companies twice.
75 positions in common, counted across the 92 positions we hold weights for in FDVV and 504 in SPY, against full books of 100 and 505.
What only one of them owns
Our book lists 422 positions for SPY that do not appear in our book for FDVV (53.1% of the fund), and 9 for FDVV that do not appear in SPY (6.2%).
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.
Top Shared Holdings
| Stock | Weight in FDVV | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.32% | 8.01% | 0.69% |
| AAPLApple, Inc | 6.42% | 7.26% | 0.84% |
| MSFTMicrosoft Corp | 5.40% | 5.66% | 0.26% |
| AVGOBroadcom Inc | 2.99% | 2.66% | 0.33% |
| GOOGLAlphabet Inc,class A | 1.88% | 2.99% | 1.11% |
| JPMJpmorgan Chase | 2.83% | 1.45% | 1.38% |
| DELLDell Technologies Inc | 3.04% | 0.19% | 2.85% |
| BACBank Of America Corp. | 1.99% | 0.62% | 1.37% |
| METAMeta Platforms Inc | 0.67% | 1.93% | 1.26% |
| KOCoca Cola Co. | 2.01% | 0.52% | 1.49% |
87.2% of FDVV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FDVV or SPY?
FDVV has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, FDVV or SPY?
Over the past year FDVV returned +16.13% vs +15.87% for SPY, so FDVV leads on 1-year performance. Over the longest common window we track (10 years), FDVV annualized +11.55% vs +14.25% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FDVV or SPY?
FDVV has been the more volatile fund at 16.0% annualized versus 15.4% for SPY. Worst drawdown: FDVV -41.1% vs SPY -34.1%.
Should I hold both FDVV and SPY?
FDVV and SPY have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FDVV and SPY?
87.2% of FDVV's money is in holdings SPY also owns. 46.2% of SPY's is in holdings FDVV also owns. They hold 75 positions in common, counted across the 92 positions we hold weights for in FDVV and 504 in SPY.
Which pays a higher dividend, FDVV or SPY?
FDVV yields 2.73% while SPY yields 0.98%, so FDVV currently pays the higher dividend yield.
Is SPY better than FDVV?
SPY has a lower expense ratio. FDVV led over 1Y and 5Y, SPY over 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. FDVV is less concentrated, with 35.7% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.