KOKU vs SPY
Xtrackers MSCI Kokusai Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KOKU or SPY?
SPY has been ahead.
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. KOKU is less concentrated, with 27.8% of the fund in its ten largest positions against 38.0%.
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 | KOKU | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $807M | $804.7B |
| Dividend Yield | 1.39% | 0.98% |
| Holdings | 1,124 | 505 |
| YTD Return | +11.67% | +12.47%Best |
| 1Y Return | +16.89% | +17.51%Best |
| 3Y Return (annualized) | +20.54% | +21.18%Best |
| 5Y Return (annualized) | +11.68% | +12.88%Best |
| Volatility (annualized) | 15.2%Best | 15.3% |
| Max Drawdown | -25.8% | -24.5%Best |
| $10,000 over 5 years | $17,373 | $18,327Best |
| Top 10 Weight | 27.8%Best | 38.0% |
| Fund Family | Xtrackers ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 7, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 8, 2020 to Sep 11, 2026 (6.4 years).
KOKU 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 6.4 years both funds cover.
KOKU vs SPY Performance
Xtrackers MSCI Kokusai Equity ETF (KOKU) is an ETF from Xtrackers ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KOKU returned +16.89% while SPY returned +17.51%. Year to date, KOKU is up 11.67% versus a gain of 12.47% for SPY.
Over three years, KOKU compounded at +20.54% per year against +21.18% for SPY; over five years the annualized figures are +11.68% and +12.88% respectively. Across the full 6-year window we track, SPY has the edge at +18.67% annualized vs +17.81%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.2% for KOKU. 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 -24.5% 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 0.98. 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. On income, KOKU currently yields 1.39% against 0.98% for SPY.
Holdings Overlap
73.8% of KOKU's money is in holdings SPY also owns. 98.0% of SPY's money is in holdings KOKU also owns.
Most of SPY is already inside KOKU. Owning both mostly buys the same companies twice.
441 positions in common, counted across the 1,107 positions we hold weights for in KOKU and 504 in SPY, against full books of 1,124 and 505.
What only one of them owns
Our book lists 59 positions for SPY that do not appear in our book for KOKU (1.8% of the fund), and 74 for KOKU that do not appear in SPY (2.4%).
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 KOKU | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 5.92% | 7.71% | 1.79% |
| AAPLApple, Inc | 5.11% | 6.83% | 1.72% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.98% | 5.50% | 1.52% |
| AMZNAmazon.Com Inc | 2.89% | 4.08% | 1.19% |
| GOOGLAlphabet A Usd 0.001 | 2.29% | 3.33% | 1.04% |
| AVGOBroadcom Inc | 2.01% | 2.97% | 0.96% |
| GOOGAlphabet Inc | 1.81% | 2.67% | 0.86% |
| METAMeta Platforms, Inc. | 1.47% | 1.94% | 0.47% |
| MUMicron Technology, Inc. | 1.25% | 1.51% | 0.26% |
| JPMJpmorgan Chase & Co. | 1.11% | 1.44% | 0.33% |
98.0% of SPY is already inside KOKU.
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, KOKU or SPY?
KOKU has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, KOKU or SPY?
Over the past year KOKU returned +16.89% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), KOKU annualized +17.81% vs +18.67% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KOKU or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.2% for KOKU. Worst drawdown: KOKU -25.8% vs SPY -24.5%.
Should I hold both KOKU and SPY?
KOKU and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between KOKU and SPY?
98.0% of SPY's money is in holdings KOKU also owns. 98.0% of SPY's is in holdings KOKU also owns. They hold 441 positions in common, counted across the 1,107 positions we hold weights for in KOKU and 504 in SPY.
Which pays a higher dividend, KOKU or SPY?
KOKU yields 1.39% while SPY yields 0.98%, so KOKU currently pays the higher dividend yield.
Is SPY better than KOKU?
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.98. KOKU is less concentrated, with 27.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.