FLUD vs SPY
Franklin Ultra Short Bond ETF 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 | FLUD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $561M | $789.1B | |
| Dividend Yield | 4.42% | 1.01% | |
| Holdings | 443 | 505 | |
| YTD Return | +1.70% | +13.39% | |
| 1Y Return | +3.95% | +22.52% | |
| 3Y Return (annualized) | +5.10% | +21.36% | |
| 5Y Return (annualized) | +3.68% | +13.19% | |
| Volatility (annualized) | 0.9% | 15.3% | |
| Max Drawdown | -1.7% | -56.5% | |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 14, 2020 | Jan 22, 1993 |
FLUD vs SPY Performance
Franklin Ultra Short Bond ETF (FLUD) is a ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FLUD returned +3.95% while SPY returned +22.52%. Year to date, FLUD is up 1.70% versus a gain of 13.39% for SPY.
Over three years, FLUD compounded at +5.10% per year against +21.36% for SPY; over five years the annualized figures are +3.68% and +13.19% respectively. Across the full 6-year window we track, SPY has the edge at +8.84% annualized vs +3.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 0.9% for FLUD. 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 -1.7% for FLUD 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 0.20. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FLUD 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, FLUD currently yields 4.42% against 1.01% for SPY.
Holdings Overlap
FLUD and SPY share 0 holdings out of 801 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FLUD or SPY?
FLUD has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, FLUD or SPY?
Over the past year FLUD returned +3.95% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FLUD annualized +3.02% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FLUD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 0.9% for FLUD. Worst drawdown: FLUD -1.7% vs SPY -56.5%.
Should I hold both FLUD and SPY?
FLUD and SPY have a monthly-return correlation of 0.20, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLUD and SPY?
FLUD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 801 unique securities.
Which pays a higher dividend, FLUD or SPY?
FLUD yields 4.42% while SPY yields 1.01%, so FLUD currently pays the higher dividend yield.
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