LFDR vs SPY
LifeX Durable 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 | LFDR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $822,715.73 | $789.1B | |
| Dividend Yield | 8.50% | 1.01% | |
| Holdings | 17 | 505 | |
| YTD Return | -5.52% | +13.79% | |
| 1Y Return | -3.84% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 8.2% | 15.3% | |
| Max Drawdown | -9.3% | -56.5% | |
| Fund Family | Stone Ridge Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 8, 2024 | Jan 22, 1993 |
LFDR vs SPY Performance
LifeX Durable Income ETF (LFDR) 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 LFDR returned -3.84% while SPY returned +23.66%. Year to date, LFDR is down 5.52% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.2% for LFDR. 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 -9.3% for LFDR 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 0.03. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LFDR 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, LFDR currently yields 8.50% against 1.01% for SPY.
Holdings Overlap
LFDR and SPY share 0 holdings out of 517 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, LFDR or SPY?
LFDR 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, LFDR or SPY?
Over the past year LFDR returned -3.84% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), LFDR annualized -1.41% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, LFDR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.2% for LFDR. Worst drawdown: LFDR -9.3% vs SPY -56.5%.
Should I hold both LFDR and SPY?
LFDR and SPY have a monthly-return correlation of 0.03, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LFDR and SPY?
LFDR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, LFDR or SPY?
LFDR yields 8.50% while SPY yields 1.01%, so LFDR currently pays the higher dividend yield.
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