FLV vs SPY
American Century Focused Large Cap Value 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 | FLV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.42% | 0.09% | |
| AUM | $364M | $789.1B | |
| Dividend Yield | 1.59% | 1.01% | |
| Holdings | 50 | 505 | |
| YTD Return | +15.68% | +13.79% | |
| 1Y Return | +23.57% | +23.66% | |
| 3Y Return (annualized) | +15.86% | +21.40% | |
| 5Y Return (annualized) | +10.30% | +13.37% | |
| Volatility (annualized) | 13.3% | 15.3% | |
| Max Drawdown | -15.1% | -56.5% | |
| Fund Family | American Century ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 31, 2020 | Jan 22, 1993 |
FLV vs SPY Performance
American Century Focused Large Cap Value ETF (FLV) is a ETF from American Century ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FLV returned +23.57% while SPY returned +23.66%. Year to date, FLV is up 15.68% versus a gain of 13.79% for SPY.
Over three years, FLV compounded at +15.86% per year against +21.40% for SPY; over five years the annualized figures are +10.30% and +13.37% respectively. Across the full 6-year window we track, FLV has the edge at +16.01% annualized vs +8.85%. 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 13.3% 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 -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 0.75. 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 1.59% against 1.01% for SPY.
Holdings Overlap
FLV and SPY share 44 holdings out of 511 unique holdings combined, representing a 20.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $33 per year of difference.
Which performed better, FLV or SPY?
Over the past year FLV returned +23.57% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FLV annualized +16.01% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FLV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.3% for FLV. Worst drawdown: FLV -15.1% vs SPY -56.5%.
Should I hold both FLV and SPY?
FLV and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FLV and SPY?
FLV and SPY share 44 common holdings with a 20.1% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, FLV or SPY?
FLV yields 1.59% while SPY yields 1.01%, so FLV currently pays the higher dividend yield.
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