FLSP vs SPY
Franklin Systematic Style Premia ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FLSP or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | FLSP | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $1.1B | $804.7B |
| Dividend Yield | 2.54% | 0.98% |
| Holdings | 598 | 505 |
| YTD Return | +7.56% | +12.22%Best |
| 1Y Return | +14.79% | +16.97%Best |
| 3Y Return (annualized) | +10.16% | +21.16%Best |
| 5Y Return (annualized) | +8.63% | +13.00%Best |
| Volatility (annualized) | 8.1%Best | 16.9% |
| Max Drawdown | -22.8%Best | -34.1% |
| $10,000 over 5 years | $15,127 | $18,424Best |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Dec 18, 2019 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 23, 2019 to Sep 17, 2026 (6.7 years).
FLSP 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 6.7 years both funds cover.
FLSP vs SPY Performance
Franklin Systematic Style Premia ETF (FLSP) 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 FLSP returned +14.79% while SPY returned +16.97%. Year to date, FLSP is up 7.56% versus a gain of 12.22% for SPY.
Over three years, FLSP compounded at +10.16% per year against +21.16% for SPY; over five years the annualized figures are +8.63% and +13.00% respectively. Across the full 7-year window we track, SPY has the edge at +14.96% annualized vs +4.78%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 8.1% for FLSP. 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 -22.8% for FLSP 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 0.09. They move largely independently of each other.
Fees and Cost Over Time
FLSP charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, FLSP currently yields 2.54% against 0.98% for SPY.
Holdings Overlap
At least 28.0% of SPY's money is in holdings FLSP also owns.
Stated as a floor: for FLSP, our book for it covers 91.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and FLSP share little of their money.
156 positions in common, counted across the 272 positions we hold weights for in FLSP and 504 in SPY, against full books of 598 and 505.
Top Shared Holdings
| Stock | Weight in FLSP | Weight in SPY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 1.27% | 5.66% | 4.39% |
| GOOGAlphabet Inc | 1.53% | 2.39% | 0.86% |
| MUMicron Technology, Inc. | 1.47% | 1.60% | 0.13% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.96% | 0.66% | 0.30% |
| GEGeneral Electric Co. | 1.05% | 0.53% | 0.52% |
| LRCXLrcx Uw Equity | 1.00% | 0.55% | 0.45% |
| CRMSalesforce Inc Crm Us Equity | 1.09% | 0.32% | 0.77% |
| CCitigroup Inc. | 1.01% | 0.34% | 0.67% |
| RTXRaytheon Co. | 0.88% | 0.42% | 0.46% |
| GILDGilead Sciences | 0.99% | 0.28% | 0.71% |
28.0% of SPY is already inside FLSP.
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, FLSP or SPY?
FLSP has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, FLSP or SPY?
Over the past year FLSP returned +14.79% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), FLSP annualized +4.78% vs +14.96% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLSP or SPY?
SPY has been the more volatile fund at 16.9% annualized versus 8.1% for FLSP. Worst drawdown: FLSP -22.8% vs SPY -34.1%.
Should I hold both FLSP and SPY?
FLSP and SPY have a monthly-return correlation of 0.09, 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 FLSP and SPY?
At least 28.0% of SPY's money is in holdings FLSP also owns. Our book for FLSP is partial, so the real figure is this or higher. They hold 156 positions in common, counted across the 272 positions we hold weights for in FLSP and 504 in SPY.
Which pays a higher dividend, FLSP or SPY?
FLSP yields 2.54% while SPY yields 0.98%, so FLSP currently pays the higher dividend yield.
Is SPY better than FLSP?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.