FEOE vs SPY
First Eagle Overseas Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FEOE or SPY?
FEOE has been ahead.
SPY has a lower expense ratio. FEOE led over 1Y and the full window. FEOE is less concentrated, with 27.7% 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 | FEOE | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $1.9B | $804.7B |
| Dividend Yield | 1.31% | 0.98% |
| Holdings | 78 | 505 |
| YTD Return | +11.78% | +13.51%Best |
| 1Y Return | +22.11%Best | +18.19% |
| 3Y Return (annualized) | - | +23.29% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 12.7% | 12.6%Best |
| Max Drawdown | -12.3%Best | -18.8% |
| $10,000 over 1.8 years | $16,058Best | $13,350 |
| Top 10 Weight | 27.7%Best | 37.8% |
| Fund Family | First Eagle Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 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: Dec 20, 2024 to Sep 25, 2026 (1.8 years).
FEOE 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.
FEOE vs SPY Performance
First Eagle Overseas Equity ETF (FEOE) is an ETF from First Eagle Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FEOE returned +22.11% while SPY returned +18.19%. Year to date, FEOE is up 11.78% versus a gain of 13.51% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEOE has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 12.6% 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 -12.3% for FEOE 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 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FEOE 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, FEOE currently yields 1.31% against 0.98% for SPY.
Holdings Overlap
2.8% of FEOE's money is in holdings SPY also owns. 0.6% of SPY's money is in holdings FEOE also owns.
FEOE and SPY share little of their money.
2 positions in common, counted across the 74 positions we hold weights for in FEOE and 504 in SPY, against full books of 78 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for FEOE (98.7% of the fund), and 3 for FEOE that do not appear in SPY (7.2%).
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.
You are not choosing between two funds in isolation.
Whichever of FEOE 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, FEOE or SPY?
FEOE has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, FEOE or SPY?
Over the past year FEOE returned +22.11% vs +18.19% for SPY, so FEOE leads on 1-year performance. Over the longest common window we track (2 years), FEOE annualized +30.10% vs +17.41% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEOE or SPY?
FEOE has been the more volatile fund at 12.7% annualized versus 12.6% for SPY. Worst drawdown: FEOE -12.3% vs SPY -18.8%.
Should I hold both FEOE and SPY?
FEOE and SPY have a monthly-return correlation of 0.33, 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 FEOE and SPY?
2.8% of FEOE's money is in holdings SPY also owns. 0.6% of SPY's is in holdings FEOE also owns. They hold 2 positions in common, counted across the 74 positions we hold weights for in FEOE and 504 in SPY.
Which pays a higher dividend, FEOE or SPY?
FEOE yields 1.31% while SPY yields 0.98%, so FEOE currently pays the higher dividend yield.
Is SPY better than FEOE?
SPY has a lower expense ratio. FEOE led over 1Y and the full window. FEOE is less concentrated, with 27.7% 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.