FLQL vs SPY
Franklin US Large Cap Multifactor Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FLQL or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. FLQL led over 3Y, 5Y and the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 38.5%.
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 | FLQL | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $2.1B | $804.7B |
| Dividend Yield | 1.02% | 0.98% |
| Holdings | 220 | 505 |
| YTD Return | +13.60%Best | +13.51% |
| 1Y Return | +17.13% | +18.19%Best |
| 3Y Return (annualized) | +23.73%Best | +23.29% |
| 5Y Return (annualized) | +14.24%Best | +13.21% |
| Volatility (annualized) | 15.0%Best | 15.8% |
| Max Drawdown | -33.6%Best | -34.1% |
| $10,000 over 5 years | $19,458Best | $18,596 |
| Top 10 Weight | 38.5% | 37.8%Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 26, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 28, 2017 to Sep 25, 2026 (9.4 years).
FLQL 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 9.4 years both funds cover.
FLQL vs SPY Performance
Franklin US Large Cap Multifactor Index ETF (FLQL) 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 FLQL returned +17.13% while SPY returned +18.19%. Year to date, FLQL is up 13.60% versus a gain of 13.51% for SPY.
Over three years, FLQL compounded at +23.73% per year against +23.29% for SPY; over five years the annualized figures are +14.24% and +13.21% respectively. Across the full 9-year window we track, FLQL has the edge at +14.59% annualized vs +14.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 15.0% for FLQL. 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 -33.6% for FLQL 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FLQL 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, FLQL currently yields 1.02% against 0.98% for SPY.
Holdings Overlap
89.6% of FLQL's money is in holdings SPY also owns. 59.4% of SPY's money is in holdings FLQL also owns.
Most of FLQL is already inside SPY. Owning both mostly buys the same companies twice.
118 positions in common, counted across the 214 positions we hold weights for in FLQL and 504 in SPY, against full books of 220 and 505.
What only one of them owns
Our book lists 379 positions for SPY that do not appear in our book for FLQL (39.9% of the fund), and 91 for FLQL that do not appear in SPY (9.4%).
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 FLQL | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.48% | 8.01% | 0.53% |
| AAPLApple, Inc | 7.60% | 7.26% | 0.34% |
| MSFTMicrosoft Corp | 5.24% | 5.66% | 0.42% |
| AMZNAmazon.Com Inc | 3.38% | 3.79% | 0.41% |
| GOOGLAlphabet Inc,class A | 3.61% | 2.99% | 0.62% |
| GOOGAlphabet Inc | 2.89% | 2.39% | 0.50% |
| AVGOBroadcom Inc | 2.44% | 2.66% | 0.22% |
| METAMeta Platforms Inc | 1.86% | 1.93% | 0.07% |
| XOMExxon Mobil Corp. | 2.04% | 1.04% | 1.00% |
| JNJJohnson & Johnson - Common | 1.96% | 0.99% | 0.97% |
89.6% of FLQL 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, FLQL or SPY?
FLQL 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, FLQL or SPY?
Over the past year FLQL returned +17.13% vs +18.19% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), FLQL annualized +14.59% vs +14.20% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLQL or SPY?
SPY has been the more volatile fund at 15.8% annualized versus 15.0% for FLQL. Worst drawdown: FLQL -33.6% vs SPY -34.1%.
Should I hold both FLQL and SPY?
FLQL and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FLQL and SPY?
89.6% of FLQL's money is in holdings SPY also owns. 59.4% of SPY's is in holdings FLQL also owns. They hold 118 positions in common, counted across the 214 positions we hold weights for in FLQL and 504 in SPY.
Which pays a higher dividend, FLQL or SPY?
FLQL yields 1.02% while SPY yields 0.98%, so FLQL currently pays the higher dividend yield.
Is SPY better than FLQL?
SPY has a lower expense ratio. FLQL led over 3Y, 5Y and the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 38.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.