FLCV vs SPY
Federated Hermes MDT Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FLCV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FLCV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.32% | 0.09% | |
| AUM | $127M | $789.1B | |
| Dividend Yield | 0.72% | 1.01% | |
| Holdings | 127 | 505 | |
| YTD Return | +20.79% | +13.68% | |
| 1Y Return | +27.94% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 11.4% | 15.3% | |
| Max Drawdown | -15.9% | -56.5% | |
| Fund Family | Federated Hermes | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 30, 2024 | Jan 22, 1993 |
FLCV vs SPY Performance
Federated Hermes MDT Large Cap Value ETF (FLCV) is a ETF from Federated Hermes and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FLCV returned +27.94% while SPY returned +21.53%. Year to date, FLCV is up 20.79% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.4% for FLCV. 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 -15.9% for FLCV 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FLCV charges 0.32% per year while SPY charges 0.09%. On a $10,000 position that is $32 vs $9 annually, a gap of $23 per year that compounds over a long holding period. On income, FLCV currently yields 0.72% against 1.01% for SPY.
Holdings Overlap
FLCV and SPY share 103 holdings out of 529 unique holdings combined, representing a 26.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FLCV or SPY?
FLCV has an expense ratio of 0.32% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $23 per year of difference.
Which performed better, FLCV or SPY?
Over the past year FLCV returned +27.94% vs +21.53% for SPY, so FLCV leads on 1-year performance. Over the longest common window we track (2 years), FLCV annualized +21.84% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FLCV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.4% for FLCV. Worst drawdown: FLCV -15.9% vs SPY -56.5%.
Should I hold both FLCV and SPY?
FLCV and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLCV and SPY?
FLCV and SPY share 103 common holdings with a 26.5% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, FLCV or SPY?
FLCV yields 0.72% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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