JDVL vs SPY
John Hancock Disciplined Value Select ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, JDVL or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. JDVL led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 38.9%.
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 | JDVL | SPY |
|---|---|---|
| Expense Ratio | 0.56% | 0.09%Best |
| AUM | $898M | $804.7B |
| Dividend Yield | 1.43% | 0.98% |
| Holdings | 41 | 505 |
| YTD Return | +16.48%Best | +11.52% |
| 1Y Return | +23.76%Best | +17.48% |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 12.2%Best | 13.0% |
| Max Drawdown | -9.2% | -8.9%Best |
| $10,000 over 1.1 years | $12,966Best | $12,119 |
| Top 10 Weight | 38.9% | 38.0%Best |
| Fund Family | John Hancock Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 6, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 6, 2025 to Sep 10, 2026 (1.1 years).
JDVL 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 1.1 years both funds cover.
JDVL vs SPY Performance
John Hancock Disciplined Value Select ETF (JDVL) is an ETF from John Hancock Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year JDVL returned +23.76% while SPY returned +17.48%. Year to date, JDVL is up 16.48% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 13.0% compared with 12.2% for JDVL. 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 -9.2% for JDVL and -8.9% 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
JDVL charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, JDVL currently yields 1.43% against 0.98% for SPY.
Holdings Overlap
88.0% of JDVL's money is in holdings SPY also owns. 28.9% of SPY's money is in holdings JDVL also owns.
Most of JDVL is already inside SPY. Owning both mostly buys the same companies twice.
35 positions in common, counted across the 39 positions we hold weights for in JDVL and 504 in SPY, against full books of 41 and 505.
What only one of them owns
Our book lists 460 positions for SPY that do not appear in our book for JDVL (70.7% of the fund), and 2 for JDVL that do not appear in SPY (6.0%).
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 JDVL | Weight in SPY | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 7.58% | 4.08% | 3.50% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.22% | 5.50% | 0.28% |
| NVDANvidia Corp. | 2.73% | 7.71% | 4.98% |
| JPMJpmorgan Chase & Co. | 4.27% | 1.44% | 2.83% |
| METAMeta Platforms, Inc. | 2.72% | 1.94% | 0.78% |
| MUMicron Technology, Inc. | 2.31% | 1.51% | 0.80% |
| PMPhilip Morris International Inc. | 3.23% | 0.44% | 2.79% |
| VVisa Inc | 2.70% | 0.92% | 1.78% |
| MSMorgan Stanley | 2.97% | 0.39% | 2.58% |
| WFCWells Fargo & Co. | 2.84% | 0.41% | 2.43% |
88.0% of JDVL 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, JDVL or SPY?
JDVL has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, JDVL or SPY?
Over the past year JDVL returned +23.76% vs +17.48% for SPY, so JDVL leads on 1-year performance. Over the longest common window we track (1 years), JDVL annualized +26.63% vs +19.09% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, JDVL or SPY?
SPY has been the more volatile fund at 13.0% annualized versus 12.2% for JDVL. Worst drawdown: JDVL -9.2% vs SPY -8.9%.
Should I hold both JDVL and SPY?
JDVL and SPY have a monthly-return correlation of 0.83, 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 JDVL and SPY?
88.0% of JDVL's money is in holdings SPY also owns. 28.9% of SPY's is in holdings JDVL also owns. They hold 35 positions in common, counted across the 39 positions we hold weights for in JDVL and 504 in SPY.
Which pays a higher dividend, JDVL or SPY?
JDVL yields 1.43% while SPY yields 0.98%, so JDVL currently pays the higher dividend yield.
Is SPY better than JDVL?
SPY has a lower expense ratio. JDVL led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.