KWH vs SPY
GMO Power Infrastructure ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KWH or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. KWH is less concentrated, with 32.1% of the fund in its ten largest positions against 38.2%.
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 | KWH | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $55M | $811.2B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 72 | 1,515 |
| YTD Return | -4.49% | +13.54%Best |
| 1Y Return | - | +16.25% |
| 3Y Return (annualized) | - | +23.72% |
| 5Y Return (annualized) | - | +13.95% |
| Top 10 Weight | 32.1%Best | 38.2% |
| Fund Family | GMO | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Jul 14, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
KWH 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
KWH vs SPY Performance
GMO Power Infrastructure ETF (KWH) is an ETF from GMO and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, KWH is down 4.49% versus a gain of 13.54% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
KWH charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, KWH currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
42.7% of KWH's money is in holdings SPY also owns. 2.6% of SPY's money is in holdings KWH also owns.
The two portfolios partly overlap.
28 positions in common, counted across the 70 positions we hold weights for in KWH and 504 in SPY, against full books of 72 and 1,515.
What only one of them owns
Our book lists 469 positions for SPY that do not appear in our book for KWH (96.6% of the fund), and 15 for KWH that do not appear in SPY (13.8%).
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 KWH | Weight in SPY | Difference |
|---|---|---|---|
| ETNEaton Corp Plc | 4.00% | 0.23% | 3.77% |
| TTTt Trane Technologies Plc | 2.80% | 0.14% | 2.66% |
| NEENextera Energy Inc | 2.60% | 0.26% | 2.34% |
| SOSouthern Co. | 2.10% | 0.15% | 1.95% |
| DUKDuke Energy Corp | 2.00% | 0.14% | 1.86% |
| EXCExelon | 1.90% | 0.07% | 1.83% |
| EQTEQT Corp. | 1.90% | 0.05% | 1.85% |
| EXEExpand Energy Corp | 1.90% | 0.03% | 1.87% |
| EDConsolidated Edison Inc | 1.80% | 0.06% | 1.74% |
| AEPAmerican Electric Power Co Inc | 1.70% | 0.10% | 1.60% |
42.7% of KWH 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, KWH or SPY?
KWH has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
What is the holdings overlap between KWH and SPY?
42.7% of KWH's money is in holdings SPY also owns. 2.6% of SPY's is in holdings KWH also owns. They hold 28 positions in common, counted across the 70 positions we hold weights for in KWH and 504 in SPY.
Which pays a higher dividend, KWH or SPY?
KWH yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than KWH?
SPY has a lower expense ratio. KWH is less concentrated, with 32.1% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.