KVLE vs SPY
KraneShares Value Line Dynamic Dividend Equity Index ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | KVLE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $43M | $821.1B | |
| Dividend Yield | 7.46% | 1.01% | |
| Holdings | 84 | 505 | |
| YTD Return | +16.55% | +14.24% | |
| 1Y Return | +19.00% | +21.71% | |
| 3Y Return (annualized) | +16.66% | +22.10% | |
| 5Y Return (annualized) | +10.71% | +13.21% | |
| Volatility (annualized) | 13.7% | 15.3% | |
| Max Drawdown | -18.4% | -56.5% | |
| Fund Family | KraneShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 24, 2020 | Jan 22, 1993 |
KVLE vs SPY Performance
KraneShares Value Line Dynamic Dividend Equity Index ETF (KVLE) is a ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KVLE returned +19.00% while SPY returned +21.71%. Year to date, KVLE is up 16.55% versus a gain of 14.24% for SPY.
Over three years, KVLE compounded at +16.66% per year against +22.10% for SPY; over five years the annualized figures are +10.71% and +13.21% respectively. Across the full 6-year window we track, KVLE has the edge at +13.15% annualized vs +8.86%. 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 13.7% 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 -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 0.91. 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
KVLE and SPY share 6 holdings out of 504 unique holdings combined, representing a 7.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $47 per year of difference.
Which performed better, KVLE or SPY?
Over the past year KVLE returned +19.00% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), KVLE annualized +13.15% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, KVLE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.7% for KVLE. Worst drawdown: KVLE -18.4% vs SPY -56.5%.
Should I hold both KVLE and SPY?
KVLE and SPY have a monthly-return correlation of 0.91, 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 KVLE and SPY?
KVLE and SPY share 6 common holdings with a 7.5% weight overlap. Combined, they hold 504 unique securities.
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.
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