FEAC vs SPY
Fidelity Enhanced US All-Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FEAC or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. FEAC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. FEAC is less concentrated, with 34.5% 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 | FEAC | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $17M | $804.7B |
| Dividend Yield | 0.75% | 0.98% |
| Holdings | 485 | 505 |
| YTD Return | +13.40%Best | +12.09% |
| 1Y Return | +17.49%Best | +16.29% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 12.8% | 12.7%Best |
| Max Drawdown | -19.0% | -18.8%Best |
| $10,000 over 1.8 years | $13,129Best | $13,048 |
| Top 10 Weight | 34.5%Best | 37.8% |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 19, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Nov 21, 2024 to Sep 18, 2026 (1.8 years).
FEAC 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 1.8 years both funds cover.
FEAC vs SPY Performance
Fidelity Enhanced US All-Cap Equity ETF (FEAC) 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 FEAC returned +17.49% while SPY returned +16.29%. Year to date, FEAC is up 13.40% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEAC has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 12.7% 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 -19.0% for FEAC and -18.8% 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FEAC 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, FEAC currently yields 0.75% against 0.98% for SPY.
Holdings Overlap
81.9% of FEAC's money is in holdings SPY also owns. 65.7% of SPY's money is in holdings FEAC also owns.
Most of FEAC is already inside SPY. Owning both mostly buys the same companies twice.
131 positions in common, counted across the 397 positions we hold weights for in FEAC and 504 in SPY, against full books of 485 and 505.
What only one of them owns
Our book lists 367 positions for SPY that do not appear in our book for FEAC (33.8% of the fund), and 237 for FEAC that do not appear in SPY (14.1%).
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 FEAC | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.51% | 8.01% | 0.50% |
| AAPLApple, Inc | 6.73% | 7.26% | 0.53% |
| MSFTMicrosoft Corp | 4.37% | 5.66% | 1.29% |
| GOOGLAlphabet Inc,class A | 3.75% | 2.99% | 0.76% |
| AMZNAmazon.Com Inc | 2.71% | 3.79% | 1.08% |
| AVGOBroadcom Inc | 2.92% | 2.66% | 0.26% |
| LLYEli Lilly & Co. | 1.93% | 1.40% | 0.53% |
| MUMicron Technology, Inc. | 1.71% | 1.60% | 0.11% |
| GOOGAlphabet Inc | 0.77% | 2.39% | 1.62% |
| METAMeta Platforms Inc | 1.09% | 1.93% | 0.84% |
81.9% of FEAC 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, FEAC or SPY?
FEAC has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, FEAC or SPY?
Over the past year FEAC returned +17.49% vs +16.29% for SPY, so FEAC leads on 1-year performance. Over the longest common window we track (2 years), FEAC annualized +16.33% vs +15.93% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEAC or SPY?
FEAC has been the more volatile fund at 12.8% annualized versus 12.7% for SPY. Worst drawdown: FEAC -19.0% vs SPY -18.8%.
Should I hold both FEAC and SPY?
FEAC and SPY have a monthly-return correlation of 0.99, 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 FEAC and SPY?
81.9% of FEAC's money is in holdings SPY also owns. 65.7% of SPY's is in holdings FEAC also owns. They hold 131 positions in common, counted across the 397 positions we hold weights for in FEAC and 504 in SPY.
Which pays a higher dividend, FEAC or SPY?
FEAC yields 0.75% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FEAC?
SPY has a lower expense ratio. FEAC led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. FEAC is less concentrated, with 34.5% 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.