KCE vs SPY
State Street SPDR S&P Capital Markets ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KCE or SPY?
Each has led over a different period.
SPY has a lower expense ratio. KCE led over 3Y, SPY over 1Y, 5Y and the full window. KCE is less concentrated, with 18.5% of the fund in its ten largest positions against 37.8%.
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 | KCE | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $473M | $804.7B |
| Dividend Yield | 1.57% | 0.98% |
| Holdings | 66 | 505 |
| YTD Return | +5.25% | +13.81%Best |
| 1Y Return | +2.80% | +16.94%Best |
| 3Y Return (annualized) | +23.92%Best | +22.84% |
| 5Y Return (annualized) | +12.69% | +13.50%Best |
| Volatility (annualized) | 23.0% | 15.1%Best |
| Max Drawdown | -74.4% | -56.5%Best |
| $10,000 over 5 years | $18,173 | $18,836Best |
| Top 10 Weight | 18.5%Best | 37.8% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 8, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2005 to Sep 22, 2026 (20.9 years).
KCE 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 20.9 years both funds cover.
KCE vs SPY Performance
State Street SPDR S&P Capital Markets ETF (KCE) is an ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KCE returned +2.80% while SPY returned +16.94%. Year to date, KCE is up 5.25% versus a gain of 13.81% for SPY.
Over three years, KCE compounded at +23.92% per year against +22.84% for SPY; over five years the annualized figures are +12.69% and +13.50% respectively. Across the full 21-year window we track, SPY has the edge at +9.60% annualized vs +5.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KCE has been the more volatile fund, with annualized monthly volatility of 23.0% compared with 15.1% 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 -74.4% for KCE 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
KCE charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, KCE currently yields 1.57% against 0.98% for SPY.
Holdings Overlap
41.2% of KCE's money is in holdings SPY also owns. 3.2% of SPY's money is in holdings KCE also owns.
The two portfolios partly overlap.
26 positions in common, counted across the 66 positions we hold weights for in KCE and 504 in SPY, against full books of 66 and 505.
What only one of them owns
Measured across the 66 and 504 positions we hold weights for.
SPY holds 471 positions KCE does not, 96.1% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
Top Shared Holdings
| Stock | Weight in KCE | Weight in SPY | Difference |
|---|---|---|---|
| SCHWSchwab Strategic T | 1.72% | 0.27% | 1.45% |
| GSGoldman Sachs Group Inc/The | 1.43% | 0.45% | 0.98% |
| BLKBlackrock Inc | 1.60% | 0.25% | 1.35% |
| BXBlackstone Group Inc. Class A | 1.69% | 0.15% | 1.54% |
| HOODRobinhood Markets Inc - A | 1.70% | 0.12% | 1.58% |
| MSMorgan Stanley | 1.44% | 0.38% | 1.06% |
| AMPAmeriprise Financial Inc | 1.72% | 0.07% | 1.65% |
| BKBank Of New York Mellon Corp | 1.62% | 0.17% | 1.45% |
| FDSFactset Research Systems Inc. | 1.76% | 0.02% | 1.74% |
| COINCoinbase Globa-A | 1.71% | 0.06% | 1.65% |
41.2% of KCE 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.
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Frequently Asked Questions
Which is cheaper, KCE or SPY?
KCE has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, KCE or SPY?
Over the past year KCE returned +2.80% vs +16.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), KCE annualized +5.82% vs +9.60% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KCE or SPY?
KCE has been the more volatile fund at 23.0% annualized versus 15.1% for SPY. Worst drawdown: KCE -74.4% vs SPY -56.5%.
Should I hold both KCE and SPY?
KCE and SPY have a monthly-return correlation of 0.86, 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 KCE and SPY?
41.2% of KCE's money is in holdings SPY also owns. 3.2% of SPY's is in holdings KCE also owns. They hold 26 positions in common, counted across the 66 positions we hold weights for in KCE and 504 in SPY.
Which pays a higher dividend, KCE or SPY?
KCE yields 1.57% while SPY yields 0.98%, so KCE currently pays the higher dividend yield.
Is SPY better than KCE?
SPY has a lower expense ratio. KCE led over 3Y, SPY over 1Y, 5Y and the full window. KCE is less concentrated, with 18.5% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.