LDDR vs SPY
LifeX 2035 Income Bucket 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 503 holdings.
Side-by-Side Comparison
| Metric | LDDR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $41M | $789.1B | |
| Dividend Yield | 12.63% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | -8.20% | +13.75% | |
| 1Y Return | -6.37% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 4.3% | 15.3% | |
| Max Drawdown | -8.6% | -56.5% | |
| Fund Family | Stone Ridge Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 6, 2025 | Jan 22, 1993 |
LDDR vs SPY Performance
LifeX 2035 Income Bucket ETF (LDDR) is a ETF from Stone Ridge Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year LDDR returned -6.37% while SPY returned +22.91%. Year to date, LDDR is down 8.20% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.3% for LDDR. 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 -8.6% for LDDR 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 -0.04. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LDDR charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, LDDR currently yields 12.63% against 1.01% for SPY.
Holdings Overlap
LDDR and SPY share 0 holdings out of 531 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, LDDR or SPY?
LDDR has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, LDDR or SPY?
Over the past year LDDR returned -6.37% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), LDDR annualized -1.30% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, LDDR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.3% for LDDR. Worst drawdown: LDDR -8.6% vs SPY -56.5%.
Should I hold both LDDR and SPY?
LDDR and SPY have a monthly-return correlation of -0.04, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LDDR and SPY?
LDDR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, LDDR or SPY?
LDDR yields 12.63% while SPY yields 1.01%, so LDDR currently pays the higher dividend yield.
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