FLV vs SPY
American Century Focused Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FLV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FLV is less concentrated, with 32.6% of the fund in its ten largest positions against 38.0%.
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 | FLV | SPY |
|---|---|---|
| Expense Ratio | 0.42% | 0.09%Best |
| AUM | $384M | $814.4B |
| Dividend Yield | 1.51% | 1.01% |
| Holdings | 56 | 505 |
| YTD Return | +15.77%Best | +13.78% |
| 1Y Return | +20.29% | +21.44%Best |
| 3Y Return (annualized) | +16.73% | +21.38%Best |
| 5Y Return (annualized) | +10.00% | +12.80%Best |
| Volatility (annualized) | 13.2%Best | 15.3% |
| Max Drawdown | -15.1%Best | -24.5% |
| $10,000 over 5 years | $16,105 | $18,262Best |
| Top 10 Weight | 32.6%Best | 38.0% |
| Fund Family | American Century ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 31, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 2, 2020 to Sep 3, 2026 (6.4 years).
FLV 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 6.4 years both funds cover.
FLV vs SPY Performance
American Century Focused Large Cap Value ETF (FLV) is an ETF from American Century ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FLV returned +20.29% while SPY returned +21.44%. Year to date, FLV is up 15.77% versus a gain of 13.78% for SPY.
Over three years, FLV compounded at +16.73% per year against +21.38% for SPY; over five years the annualized figures are +10.00% and +12.80% respectively. Across the full 6-year window we track, SPY has the edge at +20.47% annualized vs +15.82%.
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 13.2% for FLV. 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 -15.1% for FLV and -24.5% 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FLV charges 0.42% per year while SPY charges 0.09%. On a $10,000 position that is $42 vs $9 annually, a gap of $33 per year that compounds over a long holding period. On income, FLV currently yields 1.51% against 1.01% for SPY.
Holdings Overlap
87.1% of FLV's money is in holdings SPY also owns. 29.6% of SPY's money is in holdings FLV also owns.
Most of FLV is already inside SPY. Owning both mostly buys the same companies twice.
44 positions in common, counted across the 52 positions we hold weights for in FLV and 504 in SPY, against full books of 56 and 505.
What only one of them owns
Our book lists 452 positions for SPY that do not appear in our book for FLV (69.9% of the fund), and 3 for FLV that do not appear in SPY (4.6%).
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 FLV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.58% | 6.83% | 4.25% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.46% | 5.50% | 2.04% |
| AMZNAmazon.Com Inc | 3.07% | 4.08% | 1.01% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.46% | 1.42% | 2.04% |
| JPMJpmorgan Chase | 3.25% | 1.44% | 1.81% |
| GOOGLAlphabet Inc.Class A | 1.33% | 3.33% | 2.00% |
| JNJJohnson & Johnson - Common | 3.28% | 0.92% | 2.36% |
| MMCMarsh & Mclennan Cos Inc Common Stock Usd 1 | 4.04% | 0.14% | 3.90% |
| DUKDuke Energy Corp | 3.54% | 0.15% | 3.39% |
| BDXBecton Dickinson And Co. | 3.20% | 0.07% | 3.13% |
87.1% of FLV 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, FLV or SPY?
FLV has an expense ratio of 0.42% while SPY charges 0.09%. SPY is the cheaper option, by $33 a year on a $10,000 investment.
Which performed better, FLV or SPY?
Over the past year FLV returned +20.29% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FLV annualized +15.82% vs +20.47% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FLV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.2% for FLV. Worst drawdown: FLV -15.1% vs SPY -24.5%.
Should I hold both FLV and SPY?
FLV and SPY have a monthly-return correlation of 0.75, 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 FLV and SPY?
87.1% of FLV's money is in holdings SPY also owns. 29.6% of SPY's is in holdings FLV also owns. They hold 44 positions in common, counted across the 52 positions we hold weights for in FLV and 504 in SPY.
Which pays a higher dividend, FLV or SPY?
FLV yields 1.51% while SPY yields 1.01%, so FLV currently pays the higher dividend yield.
Is SPY better than FLV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FLV is less concentrated, with 32.6% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.