FVD vs SPY
First Trust Value Line Dividend Index Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, FVD 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. FVD is less concentrated, with 4.5% 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 | FVD | SPY |
|---|---|---|
| Expense Ratio | 0.62% | 0.09%Best |
| AUM | $8.2B | $814.4B |
| Dividend Yield | 2.23% | 1.01% |
| Holdings | 498 | 505 |
| YTD Return | +9.77% | +13.34%Best |
| 1Y Return | +10.92% | +19.97%Best |
| 3Y Return (annualized) | +11.67% | +21.20%Best |
| 5Y Return (annualized) | +6.47% | +12.81%Best |
| Volatility (annualized) | 13.3%Best | 15.1% |
| Max Drawdown | -54.1%Best | -56.5% |
| $10,000 over 5 years | $13,682 | $18,270Best |
| Top 10 Weight | 4.5%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 19, 2003 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 19, 2005 to Sep 4, 2026 (20.7 years).
FVD 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 20.7 years both funds cover.
FVD vs SPY Performance
First Trust Value Line Dividend Index Fund (FVD) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FVD returned +10.92% while SPY returned +19.97%. Year to date, FVD is up 9.77% versus a gain of 13.34% for SPY.
Over three years, FVD compounded at +11.67% per year against +21.20% for SPY; over five years the annualized figures are +6.47% and +12.81% respectively. Across the full 21-year window we track, SPY has the edge at +9.54% annualized vs +7.00%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.3% for FVD. 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 -54.1% for FVD and -56.5% 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FVD charges 0.62% per year while SPY charges 0.09%. On a $10,000 position that is $62 vs $9 annually, a gap of $53 per year that compounds over a long holding period. On income, FVD currently yields 2.23% against 1.01% for SPY.
Holdings Overlap
62.3% of FVD's money is in holdings SPY also owns. 22.3% of SPY's money is in holdings FVD also owns.
The two portfolios partly overlap.
154 positions in common, counted across the 247 positions we hold weights for in FVD and 504 in SPY, against full books of 498 and 505.
What only one of them owns
Our book lists 344 positions for SPY that do not appear in our book for FVD (77.4% of the fund), and 60 for FVD that do not appear in SPY (24.3%).
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 FVD | Weight in SPY | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 0.41% | 1.44% | 1.03% |
| XOMExxon Mobil Corp. | 0.39% | 0.96% | 0.57% |
| JNJJohnson & Johnson - Common | 0.39% | 0.92% | 0.53% |
| CSCOCisco Systems Inc. - Ordinary Shares | 0.43% | 0.72% | 0.29% |
| BACBank of America Corp.: Financials | 0.41% | 0.62% | 0.21% |
| ABBVAbbvie Inc. | 0.38% | 0.65% | 0.27% |
| HDHome Depot Inc/The | 0.42% | 0.52% | 0.10% |
| CVXChevron Corp | 0.39% | 0.54% | 0.15% |
| PGProcter & Gamble Company | 0.40% | 0.52% | 0.12% |
| KOCoca Cola Co. | 0.41% | 0.50% | 0.09% |
62.3% of FVD 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, FVD or SPY?
FVD has an expense ratio of 0.62% while SPY charges 0.09%. SPY is the cheaper option, by $53 a year on a $10,000 investment.
Which performed better, FVD or SPY?
Over the past year FVD returned +10.92% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), FVD annualized +7.00% vs +9.54% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FVD or SPY?
SPY has been the more volatile fund at 15.1% annualized versus 13.3% for FVD. Worst drawdown: FVD -54.1% vs SPY -56.5%.
Should I hold both FVD and SPY?
FVD and SPY have a monthly-return correlation of 0.87, 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 FVD and SPY?
62.3% of FVD's money is in holdings SPY also owns. 22.3% of SPY's is in holdings FVD also owns. They hold 154 positions in common, counted across the 247 positions we hold weights for in FVD and 504 in SPY.
Which pays a higher dividend, FVD or SPY?
FVD yields 2.23% while SPY yields 1.01%, so FVD currently pays the higher dividend yield.
Is SPY better than FVD?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FVD is less concentrated, with 4.5% 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.