FIW vs SPY
First Trust Water ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FIW or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. FIW led over the full window, SPY over 1Y, 3Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.7%.
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 | FIW | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $1.9B | $814.4B |
| Dividend Yield | 0.72% | 1.01% |
| Holdings | 74 | 505 |
| YTD Return | -0.20% | +13.34%Best |
| 1Y Return | -3.98% | +19.97%Best |
| 3Y Return (annualized) | +8.24% | +21.20%Best |
| 5Y Return (annualized) | +4.45% | +12.81%Best |
| Volatility (annualized) | 18.8% | 15.5%Best |
| Max Drawdown | -53.1%Best | -56.5% |
| $10,000 over 5 years | $12,432 | $18,270Best |
| Top 10 Weight | 41.7% | 38.0%Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | May 8, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 11, 2007 to Sep 4, 2026 (19.3 years).
FIW 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 19.3 years both funds cover.
FIW vs SPY Performance
First Trust Water ETF (FIW) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FIW returned -3.98% while SPY returned +19.97%. Year to date, FIW is down 0.20% versus a gain of 13.34% for SPY.
Over three years, FIW compounded at +8.24% per year against +21.20% for SPY; over five years the annualized figures are +4.45% and +12.81% respectively. Across the full 19-year window we track, FIW has the edge at +9.32% annualized vs +9.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FIW has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.5% 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 -53.1% for FIW and -56.5% 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FIW 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, FIW currently yields 0.72% against 1.01% for SPY.
Holdings Overlap
53.0% of FIW's money is in holdings SPY also owns. 0.7% of SPY's money is in holdings FIW also owns.
The two portfolios partly overlap.
14 positions in common, counted across the 36 positions we hold weights for in FIW and 504 in SPY, against full books of 74 and 505.
What only one of them owns
Our book lists 482 positions for SPY that do not appear in our book for FIW (98.8% of the fund), and 19 for FIW that do not appear in SPY (41.8%).
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 FIW | Weight in SPY | Difference |
|---|---|---|---|
| WATWaters Corp. | 5.02% | 0.06% | 4.96% |
| AAgilent Technologies Inc | 4.66% | 0.06% | 4.60% |
| ROPRoper Technologies Inc. | 4.52% | 0.06% | 4.46% |
| VLTOVeralto Corp | 4.00% | 0.04% | 3.96% |
| IEXI D E X Corporation | 3.97% | 0.03% | 3.94% |
| AWKAmerican Water Works Co. Inc. | 3.95% | 0.04% | 3.91% |
| FERGFerguson Enterprises | 3.92% | 0.07% | 3.85% |
| XYLXylem,Inc. | 3.78% | 0.04% | 3.74% |
| ECLEcolab, Inc. | 3.71% | 0.11% | 3.60% |
| MASMasco Corp. | 3.79% | 0.02% | 3.77% |
53.0% of FIW 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, FIW or SPY?
FIW 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, FIW or SPY?
Over the past year FIW returned -3.98% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), FIW annualized +9.32% vs +9.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FIW or SPY?
FIW has been the more volatile fund at 18.8% annualized versus 15.5% for SPY. Worst drawdown: FIW -53.1% vs SPY -56.5%.
Should I hold both FIW and SPY?
FIW and SPY have a monthly-return correlation of 0.86, 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 FIW and SPY?
53.0% of FIW's money is in holdings SPY also owns. 0.7% of SPY's is in holdings FIW also owns. They hold 14 positions in common, counted across the 36 positions we hold weights for in FIW and 504 in SPY.
Which pays a higher dividend, FIW or SPY?
FIW yields 0.72% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FIW?
SPY has a lower expense ratio. FIW led over the full window, SPY over 1Y, 3Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.