FLCB vs SPY
Franklin US Core Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FLCB or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FLCB is less concentrated, with 37.8% of the fund in its ten largest positions against 38.9%.
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 | FLCB | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $3.2B | $777.9B |
| Dividend Yield | 4.47% | 1.00% |
| Holdings | 959 | 1,011 |
| YTD Return | -0.42% | +8.47%Best |
| 1Y Return | -0.16% | +10.88%Best |
| 3Y Return (annualized) | +4.72% | +20.41%Best |
| 5Y Return (annualized) | -0.32% | +10.90%Best |
| Volatility (annualized) | 5.7%Best | 16.5% |
| Max Drawdown | -20.4%Best | -34.1% |
| $10,000 over 5 years | $9,841 | $16,775Best |
| Top 10 Weight | 37.8%Best | 38.9% |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | - | Large Cap Blend |
| Inception | Sep 17, 2019 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 19, 2019 to Nov 6, 2026 (7.1 years).
FLCB 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
FLCB vs SPY Performance
Franklin US Core Bond ETF (FLCB) is an ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FLCB returned -0.16% while SPY returned +10.88%. Year to date, FLCB is down 0.42% versus a gain of 8.47% for SPY.
Over three years, FLCB compounded at +4.72% per year against +20.41% for SPY; over five years the annualized figures are -0.32% and +10.90% respectively. Across the full 7-year window we track, SPY has the edge at +14.56% annualized vs +0.18%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 5.7% for FLCB. 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 -20.4% for FLCB and -34.1% 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 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FLCB charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, FLCB currently yields 4.47% against 1.00% for SPY.
Holdings Overlap
96.6% of FLCB's money is in holdings SPY also owns. 84.4% of SPY's money is in holdings FLCB also owns.
Most of FLCB is already inside SPY. Owning both mostly buys the same companies twice.
256 positions in common, counted across the 285 positions we hold weights for in FLCB and 504 in SPY, against full books of 959 and 1,011.
What only one of them owns
Our book lists 244 positions for SPY that do not appear in our book for FLCB (15.5% of the fund), and 23 for FLCB that do not appear in SPY (2.0%).
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 FLCB | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.25% | 8.05% | 0.80% |
| AAPLApple Inc | 7.36% | 7.53% | 0.17% |
| MSFTMicrosoft Corp | 6.21% | 5.96% | 0.25% |
| AMZNAmazon.Com Inc | 3.73% | 3.75% | 0.02% |
| GOOGLAlphabet Inc | 2.98% | 3.07% | 0.09% |
| AVGOBroadcom Inc | 2.63% | 2.48% | 0.15% |
| GOOGAlphabet Inc. C | 2.37% | 2.46% | 0.09% |
| METAMeta Platforms Inc | 2.20% | 2.45% | 0.25% |
| TSLATesla Inc | 1.56% | 1.56% | 0.00% |
| MUMicron Technology, Inc. | 1.51% | 1.55% | 0.04% |
96.6% of FLCB 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, FLCB or SPY?
FLCB has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, FLCB or SPY?
Over the past year FLCB returned -0.16% vs +10.88% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), FLCB annualized +0.18% vs +14.56% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLCB or SPY?
SPY has been the more volatile fund at 16.5% annualized versus 5.7% for FLCB. Worst drawdown: FLCB -20.4% vs SPY -34.1%.
Should I hold both FLCB and SPY?
FLCB and SPY have a monthly-return correlation of 0.52, 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 FLCB and SPY?
96.6% of FLCB's money is in holdings SPY also owns. 84.4% of SPY's is in holdings FLCB also owns. They hold 256 positions in common, counted across the 285 positions we hold weights for in FLCB and 504 in SPY.
Which pays a higher dividend, FLCB or SPY?
FLCB yields 4.47% while SPY yields 1.00%, so FLCB currently pays the higher dividend yield.
Is SPY better than FLCB?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FLCB is less concentrated, with 37.8% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.