KLXY vs SPY
KraneShares Global Luxury Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KLXY or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.8%.
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 | KLXY | SPY |
|---|---|---|
| Expense Ratio | 0.69% | 0.09%Best |
| AUM | $2M | $804.7B |
| Dividend Yield | 0.84% | 0.98% |
| Holdings | 31 | 505 |
| Volatility (annualized) | 16.1% | 11.7%Best |
| Max Drawdown | -26.6% | -18.8%Best |
| $10,000 over 2.5 years | $10,717 | $15,338Best |
| Top 10 Weight | 64.8% | 38.0%Best |
| Fund Family | KraneShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 7, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 182 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. KLXY has data through Mar 13, 2026 and SPY through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Sep 7, 2023 to Mar 13, 2026 (2.5 years).
Risk: Volatility and Drawdowns
KLXY has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 11.7% 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 -26.6% for KLXY and -18.8% 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 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KLXY charges 0.69% per year while SPY charges 0.09%. On a $10,000 position that is $69 vs $9 annually, a gap of $60 per year that compounds over a long holding period. On income, KLXY currently yields 0.84% against 0.98% for SPY.
Holdings Overlap
22.1% of KLXY's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings KLXY also owns.
KLXY and SPY share little of their money.
The two holdings books were reported 186 days apart, KLXY as of Jan 30, 2026 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
4 positions in common, counted across the 23 positions we hold weights for in KLXY and 504 in SPY, against full books of 31 and 505.
What only one of them owns
Our book lists 490 positions for SPY that do not appear in our book for KLXY (99.4% of the fund), and 3 for KLXY that do not appear in SPY (8.2%).
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.
22.1% of KLXY 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, KLXY or SPY?
KLXY has an expense ratio of 0.69% while SPY charges 0.09%. SPY is the cheaper option, by $60 a year on a $10,000 investment.
Which is riskier, KLXY or SPY?
KLXY has been the more volatile fund at 16.1% annualized versus 11.7% for SPY. Worst drawdown: KLXY -26.6% vs SPY -18.8%.
Should I hold both KLXY and SPY?
KLXY and SPY have a monthly-return correlation of 0.59, 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 KLXY and SPY?
22.1% of KLXY's money is in holdings SPY also owns. 0.1% of SPY's is in holdings KLXY also owns. They hold 4 positions in common, counted across the 23 positions we hold weights for in KLXY and 504 in SPY.
Which pays a higher dividend, KLXY or SPY?
KLXY yields 0.84% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than KLXY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 64.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.