INCO vs SPY
Columbia India Consumer 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 505 holdings.
Side-by-Side Comparison
| Metric | INCO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $225M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 34 | 505 | |
| YTD Return | -4.21% | +12.22% | |
| 1Y Return | -6.61% | +20.83% | |
| 3Y Return (annualized) | +8.93% | +21.70% | |
| 5Y Return (annualized) | +7.60% | +12.98% | |
| Volatility (annualized) | 21.5% | 15.3% | |
| Max Drawdown | -47.7% | -56.5% | |
| Fund Family | Columbia Threadneedle Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 10, 2011 | Jan 22, 1993 |
INCO vs SPY Performance
Columbia India Consumer ETF (INCO) is a ETF from Columbia Threadneedle Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year INCO returned -6.61% while SPY returned +20.83%. Year to date, INCO is down 4.21% versus a gain of 12.22% for SPY.
Over three years, INCO compounded at +8.93% per year against +21.70% for SPY; over five years the annualized figures are +7.60% and +12.98% respectively. Across the full 15-year window we track, INCO has the edge at +9.58% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
INCO has been the more volatile fund, with annualized monthly volatility of 21.5% compared with 15.3% for SPY. 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 -47.7% for INCO 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
INCO charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, INCO currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
INCO and SPY share 0 holdings out of 534 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, INCO or SPY?
INCO has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, INCO or SPY?
Over the past year INCO returned -6.61% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), INCO annualized +9.58% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, INCO or SPY?
INCO has been the more volatile fund at 21.5% annualized versus 15.3% for SPY. Worst drawdown: INCO -47.7% vs SPY -56.5%.
Should I hold both INCO and SPY?
INCO and SPY have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between INCO and SPY?
INCO and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 534 unique securities.
Which pays a higher dividend, INCO or SPY?
INCO yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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