KOKU vs SPY
Xtrackers MSCI Kokusai Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
KOKU has a lower expense ratio. SPY delivered stronger 1-year returns. KOKU offers more diversification with 1,144 holdings.
Side-by-Side Comparison
| Metric | KOKU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $819M | $821.1B | |
| Dividend Yield | 1.43% | 1.01% | |
| Holdings | 1,144 | 505 | |
| YTD Return | +12.69% | +12.68% | |
| 1Y Return | +21.75% | +21.82% | |
| 3Y Return (annualized) | +21.59% | +21.98% | |
| 5Y Return (annualized) | +11.86% | +12.89% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -25.8% | -56.5% | |
| Fund Family | Xtrackers ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 7, 2020 | Jan 22, 1993 |
KOKU vs SPY Performance
Xtrackers MSCI Kokusai Equity ETF (KOKU) is a ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KOKU returned +21.75% while SPY returned +21.82%. Year to date, KOKU is up 12.69% versus a gain of 12.68% for SPY.
Over three years, KOKU compounded at +21.59% per year against +21.98% for SPY; over five years the annualized figures are +11.86% and +12.89% respectively. Across the full 6-year window we track, KOKU has the edge at +18.15% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KOKU has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -25.8% for KOKU 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
KOKU charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, KOKU currently yields 1.43% against 1.01% for SPY.
Holdings Overlap
KOKU and SPY share 439 holdings out of 1174 unique holdings combined, representing a 73.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, KOKU or SPY?
KOKU has an expense ratio of 0.09% while SPY charges 0.09%. KOKU is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, KOKU or SPY?
Over the past year KOKU returned +21.75% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), KOKU annualized +18.15% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, KOKU or SPY?
KOKU has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: KOKU -25.8% vs SPY -56.5%.
Should I hold both KOKU and SPY?
KOKU and SPY have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between KOKU and SPY?
KOKU and SPY share 439 common holdings with a 73.3% weight overlap. Combined, they hold 1174 unique securities.
Which pays a higher dividend, KOKU or SPY?
KOKU yields 1.43% while SPY yields 1.01%, so KOKU currently pays the higher dividend yield.
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