LFBE vs SPY
LifeX 2065 Longevity Income 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 | LFBE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 8.54% | 1.01% | |
| Holdings | 17 | 505 | |
| YTD Return | -6.17% | +13.75% | |
| 1Y Return | -4.28% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 8.3% | 15.3% | |
| Max Drawdown | -9.5% | -56.5% | |
| Fund Family | Stone Ridge Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 6, 2025 | Jan 22, 1993 |
LFBE vs SPY Performance
LifeX 2065 Longevity Income ETF (LFBE) 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 LFBE returned -4.28% while SPY returned +22.91%. Year to date, LFBE is down 6.17% 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 8.3% for LFBE. 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 -9.5% for LFBE 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 0.02. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LFBE 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, LFBE currently yields 8.54% against 1.01% for SPY.
Holdings Overlap
LFBE and SPY share 0 holdings out of 514 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, LFBE or SPY?
LFBE 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, LFBE or SPY?
Over the past year LFBE returned -4.28% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), LFBE annualized -0.68% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, LFBE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.3% for LFBE. Worst drawdown: LFBE -9.5% vs SPY -56.5%.
Should I hold both LFBE and SPY?
LFBE and SPY have a monthly-return correlation of 0.02, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LFBE and SPY?
LFBE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, LFBE or SPY?
LFBE yields 8.54% while SPY yields 1.01%, so LFBE currently pays the higher dividend yield.
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