FISR vs SPY
State Street Fixed Income Sector Rotation 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 | FISR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $618M | $821.1B | |
| Dividend Yield | 4.28% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | -0.09% | +12.68% | |
| 1Y Return | +2.32% | +21.82% | |
| 3Y Return (annualized) | +4.09% | +21.98% | |
| 5Y Return (annualized) | -1.26% | +12.89% | |
| Volatility (annualized) | 6.0% | 15.3% | |
| Max Drawdown | -21.3% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 2, 2019 | Jan 22, 1993 |
FISR vs SPY Performance
State Street Fixed Income Sector Rotation ETF (FISR) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FISR returned +2.32% while SPY returned +21.82%. Year to date, FISR is down 0.09% versus a gain of 12.68% for SPY.
Over three years, FISR compounded at +4.09% per year against +21.98% for SPY; over five years the annualized figures are -1.26% and +12.89% respectively. Across the full 7-year window we track, SPY has the edge at +8.81% annualized vs -0.06%. 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 6.0% for FISR. 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 -21.3% for FISR 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FISR 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, FISR currently yields 4.28% against 1.01% for SPY.
Holdings Overlap
FISR and SPY share 0 holdings out of 513 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, FISR or SPY?
FISR has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, FISR or SPY?
Over the past year FISR returned +2.32% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), FISR annualized -0.06% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, FISR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.0% for FISR. Worst drawdown: FISR -21.3% vs SPY -56.5%.
Should I hold both FISR and SPY?
FISR and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FISR and SPY?
FISR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, FISR or SPY?
FISR yields 4.28% while SPY yields 1.01%, so FISR currently pays the higher dividend yield.
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