KFEB vs SPY
Innovator US Small Cap Power Buffer ETF - February vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. KFEB delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | KFEB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $41M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +14.05% | +13.75% | |
| 1Y Return | +24.34% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 8.9% | 15.3% | |
| Max Drawdown | -14.2% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 31, 2025 | Jan 22, 1993 |
KFEB vs SPY Performance
Innovator US Small Cap Power Buffer ETF - February (KFEB) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KFEB returned +24.34% while SPY returned +22.91%. Year to date, KFEB is up 14.05% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.9% for KFEB. 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 -14.2% for KFEB 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
KFEB charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, KFEB currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, KFEB or SPY?
KFEB has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, KFEB or SPY?
Over the past year KFEB returned +24.34% vs +22.91% for SPY, so KFEB leads on 1-year performance. Over the longest common window we track (2 years), KFEB annualized +15.92% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, KFEB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.9% for KFEB. Worst drawdown: KFEB -14.2% vs SPY -56.5%.
Should I hold both KFEB and SPY?
KFEB and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, KFEB or SPY?
KFEB yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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