LIBD vs SPY
LIBD vs SPY
LifeX 2065 Inflation-Protected 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 | LIBD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $4M | $789.1B | |
| Dividend Yield | 11.80% | 1.01% | |
| Holdings | 20 | 505 | |
| YTD Return | -4.40% | +13.79% | |
| 1Y Return | -3.38% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 7.8% | 15.3% | |
| Max Drawdown | -8.9% | -56.5% | |
| Fund Family | Stone Ridge Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 6, 2025 | Jan 22, 1993 |
LIBD vs SPY Performance
LifeX 2065 Inflation-Protected Longevity Income ETF (LIBD) 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 LIBD returned -3.38% while SPY returned +23.66%. Year to date, LIBD is down 4.40% 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 7.8% for LIBD. 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 -8.9% for LIBD 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 0.24. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
LIBD 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, LIBD currently yields 11.80% against 1.01% for SPY.
Holdings Overlap
LIBD and SPY share 0 holdings out of 509 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, LIBD or SPY?
LIBD 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, LIBD or SPY?
Over the past year LIBD returned -3.38% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), LIBD annualized -0.47% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, LIBD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.8% for LIBD. Worst drawdown: LIBD -8.9% vs SPY -56.5%.
Should I hold both LIBD and SPY?
LIBD and SPY have a monthly-return correlation of 0.24, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between LIBD and SPY?
LIBD and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, LIBD or SPY?
LIBD yields 11.80% while SPY yields 1.01%, so LIBD currently pays the higher dividend yield.
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