FLC vs SPY
Flaherty & Crumrine Total Return Fund 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 503 holdings.
Side-by-Side Comparison
| Metric | FLC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.64% | 0.09% | |
| AUM | $193M | $789.1B | |
| Dividend Yield | 6.71% | 1.01% | |
| Holdings | 257 | 505 | |
| YTD Return | -0.09% | +13.39% | |
| 1Y Return | +5.70% | +22.52% | |
| 3Y Return (annualized) | +12.96% | +21.36% | |
| 5Y Return (annualized) | -0.01% | +13.19% | |
| Volatility (annualized) | 19.3% | 15.3% | |
| Max Drawdown | -83.0% | -56.5% | |
| Fund Family | Flaherty & Crumrine | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Aug 29, 2003 | Jan 22, 1993 |
FLC vs SPY Performance
Flaherty & Crumrine Total Return Fund (FLC) is a ETF from Flaherty & Crumrine and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FLC returned +5.70% while SPY returned +22.52%. Year to date, FLC is down 0.09% versus a gain of 13.39% for SPY.
Over three years, FLC compounded at +12.96% per year against +21.36% for SPY; over five years the annualized figures are -0.01% and +13.19% respectively. Across the full 23-year window we track, SPY has the edge at +8.84% annualized vs -0.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FLC has been the more volatile fund, with annualized monthly volatility of 19.3% 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 -83.0% for FLC 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FLC charges 1.64% per year while SPY charges 0.09%. On a $10,000 position that is $164 vs $9 annually, a gap of $155 per year that compounds over a long holding period. On income, FLC currently yields 6.71% against 1.01% for SPY.
Holdings Overlap
FLC and SPY share 9 holdings out of 678 unique holdings combined, representing a 0.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FLC or SPY?
FLC has an expense ratio of 1.64% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $155 per year of difference.
Which performed better, FLC or SPY?
Over the past year FLC returned +5.70% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), FLC annualized -0.02% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FLC or SPY?
FLC has been the more volatile fund at 19.3% annualized versus 15.3% for SPY. Worst drawdown: FLC -83.0% vs SPY -56.5%.
Should I hold both FLC and SPY?
FLC and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLC and SPY?
FLC and SPY share 9 common holdings with a 0.9% weight overlap. Combined, they hold 678 unique securities.
Which pays a higher dividend, FLC or SPY?
FLC yields 6.71% while SPY yields 1.01%, so FLC currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.