KVLE vs SPY
KraneShares Value Line Dynamic Dividend Equity Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KVLE or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. KVLE is less concentrated, with 26.7% 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 | KVLE | SPY |
|---|---|---|
| Expense Ratio | 0.56% | 0.09%Best |
| AUM | $42M | $814.4B |
| Dividend Yield | 7.46% | 1.01% |
| Holdings | 84 | 505 |
| YTD Return | +14.29%Best | +12.71% |
| 1Y Return | +15.49% | +19.36%Best |
| 3Y Return (annualized) | +16.03% | +21.09%Best |
| 5Y Return (annualized) | +10.27% | +12.69%Best |
| Volatility (annualized) | 13.6%Best | 14.9% |
| Max Drawdown | -18.4%Best | -24.5% |
| $10,000 over 5 years | $16,304 | $18,173Best |
| Top 10 Weight | 26.7%Best | 38.0% |
| Fund Family | KraneShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 24, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 24, 2020 to Sep 8, 2026 (5.8 years).
KVLE 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 5.8 years both funds cover.
KVLE vs SPY Performance
KraneShares Value Line Dynamic Dividend Equity Index ETF (KVLE) is an ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KVLE returned +15.49% while SPY returned +19.36%. Year to date, KVLE is up 14.29% versus a gain of 12.71% for SPY.
Over three years, KVLE compounded at +16.03% per year against +21.09% for SPY; over five years the annualized figures are +10.27% and +12.69% respectively. Across the full 6-year window we track, SPY has the edge at +15.23% annualized vs +12.60%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.9% compared with 13.6% for KVLE. 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 -18.4% for KVLE 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
KVLE charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, KVLE currently yields 7.46% against 1.01% for SPY.
Holdings Overlap
79.7% of KVLE's money is in holdings SPY also owns. 45.8% of SPY's money is in holdings KVLE also owns.
Most of KVLE is already inside SPY. Owning both mostly buys the same companies twice.
67 positions in common, counted across the 83 positions we hold weights for in KVLE and 503 in SPY, against full books of 84 and 505.
What only one of them owns
Our book lists 426 positions for SPY that do not appear in our book for KVLE (53.6% of the fund), and 15 for KVLE that do not appear in SPY (18.6%).
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 KVLE | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.53% | 7.71% | 1.18% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.82% | 5.50% | 1.68% |
| AAPLApple Inc Ord | 1.72% | 6.83% | 5.11% |
| AVGOBroadcom Inc | 3.00% | 2.97% | 0.03% |
| JPMJpmorgan Chase & Co. | 2.09% | 1.44% | 0.65% |
| MUMicron Technology, Inc. | 1.87% | 1.51% | 0.36% |
| GOOGAlphabet, Inc., Class C | 0.14% | 2.67% | 2.53% |
| CSCOCisco Systems Inc | 2.08% | 0.72% | 1.36% |
| ABBVAbbvie Inc. | 1.82% | 0.65% | 1.17% |
| GSGoldman Sachs Group Inc. | 1.91% | 0.47% | 1.44% |
79.7% of KVLE 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, KVLE or SPY?
KVLE has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, KVLE or SPY?
Over the past year KVLE returned +15.49% vs +19.36% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), KVLE annualized +12.60% vs +15.23% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KVLE or SPY?
SPY has been the more volatile fund at 14.9% annualized versus 13.6% for KVLE. Worst drawdown: KVLE -18.4% vs SPY -24.5%.
Should I hold both KVLE and SPY?
KVLE and SPY have a monthly-return correlation of 0.91, 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 KVLE and SPY?
79.7% of KVLE's money is in holdings SPY also owns. 45.8% of SPY's is in holdings KVLE also owns. They hold 67 positions in common, counted across the 83 positions we hold weights for in KVLE and 503 in SPY.
Which pays a higher dividend, KVLE or SPY?
KVLE yields 7.46% while SPY yields 1.01%, so KVLE currently pays the higher dividend yield.
Is SPY better than KVLE?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. KVLE is less concentrated, with 26.7% 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.