LEAD vs SPY
Siren DIVCON Leaders Dividend ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LEAD or SPY?
Each has led over a different period.
SPY has a lower expense ratio. LEAD led over 1Y, SPY over the full window. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.3%.
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 | LEAD | SPY |
|---|---|---|
| Expense Ratio | 0.43% | 0.09%Best |
| AUM | $72M | $804.7B |
| Dividend Yield | 0.55% | 0.98% |
| Holdings | 54 | 505 |
| Volatility (annualized) | 15.7% | 15.2%Best |
| Max Drawdown | -32.2%Best | -34.1% |
| $10,000 over 10.5 years | $38,396 | $40,615Best |
| Top 10 Weight | 42.3% | 37.8%Best |
| Fund Family | SRN Advisors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 6, 2016 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 65 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. LEAD has data through Jul 14, 2026 and SPY through Sep 17, 2026.
Volatility and max drawdown, and the $10,000 over 10.5 years row, are measured over the window both funds cover: Jan 6, 2016 to Jul 14, 2026 (10.5 years).
Risk: Volatility and Drawdowns
LEAD has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.2% for SPY. 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 -32.2% for LEAD and -34.1% 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
LEAD charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, LEAD currently yields 0.55% against 0.98% for SPY.
Holdings Overlap
88.4% of LEAD's money is in holdings SPY also owns. 32.8% of SPY's money is in holdings LEAD also owns.
Most of LEAD is already inside SPY. Owning both mostly buys the same companies twice.
The two holdings books were reported 124 days apart, LEAD as of Apr 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
48 positions in common, counted across the 53 positions we hold weights for in LEAD and 504 in SPY, against full books of 54 and 505.
What only one of them owns
Our book lists 449 positions for SPY that do not appear in our book for LEAD (66.5% of the fund), and 4 for LEAD that do not appear in SPY (10.1%).
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 LEAD | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.34% | 8.01% | 2.67% |
| AVGOBroadcom Inc | 6.55% | 2.66% | 3.89% |
| AAPLApple, Inc | 1.75% | 7.26% | 5.51% |
| MSFTMicrosoft Corp | 1.37% | 5.66% | 4.29% |
| PWRQuanta Services, Inc. | 6.19% | 0.14% | 6.05% |
| KLACKla Corp | 5.34% | 0.34% | 5.00% |
| COSTCostco Wholesale Corp. | 4.11% | 0.63% | 3.48% |
| LLYEli Lilly & Co. | 1.61% | 1.40% | 0.21% |
| AMATApplied Materials, Inc. | 2.37% | 0.53% | 1.84% |
| ADIAnalog Devices, Inc. | 2.19% | 0.26% | 1.93% |
88.4% of LEAD 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, LEAD or SPY?
LEAD has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option, by $34 a year on a $10,000 investment.
Which is riskier, LEAD or SPY?
LEAD has been the more volatile fund at 15.7% annualized versus 15.2% for SPY. Worst drawdown: LEAD -32.2% vs SPY -34.1%.
Should I hold both LEAD and SPY?
LEAD and SPY have a monthly-return correlation of 0.93, 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 LEAD and SPY?
88.4% of LEAD's money is in holdings SPY also owns. 32.8% of SPY's is in holdings LEAD also owns. They hold 48 positions in common, counted across the 53 positions we hold weights for in LEAD and 504 in SPY.
Which pays a higher dividend, LEAD or SPY?
LEAD yields 0.55% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than LEAD?
SPY has a lower expense ratio. LEAD led over 1Y, SPY over the full window. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.