HELS vs SPY
Hedgeye 130/30 Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HELS or SPY?
SPY costs less.
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 39.8%.
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 | HELS | SPY |
|---|---|---|
| Expense Ratio | 0.70% | 0.09%Best |
| AUM | $17M | $823.2B |
| Dividend Yield | 0.02% | 0.99% |
| Holdings | 51 | 1,515 |
| Top 10 Weight | 39.8% | 38.2%Best |
| Fund Family | Hedgeye Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 10, 2025 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Volatility (annualized), Max Drawdown, $10,000 over the window.
The two price series end 15 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. HELS has data through Oct 20, 2026 and SPY through Nov 4, 2026.
Fees and Cost Over Time
HELS charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, HELS currently yields 0.02% against 0.99% for SPY.
Holdings Overlap
48.6% of HELS's money is in holdings SPY also owns. 36.3% of SPY's money is in holdings HELS also owns.
The two portfolios partly overlap.
37 positions in common, counted across the 88 positions we hold weights for in HELS and 504 in SPY, against full books of 51 and 1,515.
What only one of them owns
Our book lists 460 positions for SPY that do not appear in our book for HELS (63.0% of the fund), and 26 for HELS that do not appear in SPY (52.8%).
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 HELS | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 4.63% | 7.45% | 2.82% |
| NVDANvidia Corp | 2.99% | 7.78% | 4.79% |
| MSFTMicrosoft Corp | 3.67% | 5.71% | 2.04% |
| AMZNAmazon.Com Inc | 1.99% | 3.78% | 1.79% |
| METAMeta Platforms Inc | 2.95% | 2.22% | 0.73% |
| LLYEli Lilly & Co. | 2.93% | 1.37% | 1.56% |
| XOMExxonmobil Corp. | 3.04% | 1.04% | 2.00% |
| PMPhilip Morris International Inc. | 3.11% | 0.46% | 2.65% |
| PLTRPalantir Technologies Inc | 2.22% | 0.61% | 1.61% |
| DELLDell Technologies Inc | 2.33% | 0.24% | 2.09% |
48.6% of HELS 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, HELS or SPY?
HELS has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option, by $61 a year on a $10,000 investment.
What is the holdings overlap between HELS and SPY?
48.6% of HELS's money is in holdings SPY also owns. 36.3% of SPY's is in holdings HELS also owns. They hold 37 positions in common, counted across the 88 positions we hold weights for in HELS and 504 in SPY.
Which pays a higher dividend, HELS or SPY?
HELS yields 0.02% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than HELS?
SPY has a lower expense ratio. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 39.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.