FEZ vs SPY
State Street SPDR EURO STOXX 50 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 | FEZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $4.5B | $821.1B | |
| Dividend Yield | 2.56% | 1.01% | |
| Holdings | 55 | 505 | |
| YTD Return | +11.47% | +13.17% | |
| 1Y Return | +20.99% | +21.53% | |
| 3Y Return (annualized) | +20.55% | +22.06% | |
| 5Y Return (annualized) | +12.17% | +13.35% | |
| Volatility (annualized) | 21.2% | 15.3% | |
| Max Drawdown | -66.2% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 15, 2002 | Jan 22, 1993 |
FEZ vs SPY Performance
State Street SPDR EURO STOXX 50 ETF (FEZ) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FEZ returned +20.99% while SPY returned +21.53%. Year to date, FEZ is up 11.47% versus a gain of 13.17% for SPY.
Over three years, FEZ compounded at +20.55% per year against +22.06% for SPY; over five years the annualized figures are +12.17% and +13.35% respectively. Across the full 24-year window we track, SPY has the edge at +8.82% annualized vs +5.22%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEZ has been the more volatile fund, with annualized monthly volatility of 21.2% 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 -66.2% for FEZ 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FEZ charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, FEZ currently yields 2.56% against 1.01% for SPY.
Holdings Overlap
FEZ and SPY share 0 holdings out of 552 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, FEZ or SPY?
FEZ has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, FEZ or SPY?
Over the past year FEZ returned +20.99% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (24 years), FEZ annualized +5.22% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FEZ or SPY?
FEZ has been the more volatile fund at 21.2% annualized versus 15.3% for SPY. Worst drawdown: FEZ -66.2% vs SPY -56.5%.
Should I hold both FEZ and SPY?
FEZ and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FEZ and SPY?
FEZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, FEZ or SPY?
FEZ yields 2.56% while SPY yields 1.01%, so FEZ currently pays the higher dividend yield.
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