MEDI vs SPY
Harbor Health Care ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MEDI or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 56.8%.
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 | MEDI | SPY |
|---|---|---|
| Expense Ratio | 0.80% | 0.09%Best |
| AUM | $44M | $804.7B |
| Dividend Yield | 0.04% | 0.98% |
| Holdings | 44 | 505 |
| YTD Return | +5.10% | +12.09%Best |
| 1Y Return | +14.98% | +16.29%Best |
| 3Y Return (annualized) | +14.46% | +21.20%Best |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 16.2% | 13.0%Best |
| Max Drawdown | -19.2% | -18.8%Best |
| $10,000 over 3.8 years | $17,075 | $20,165Best |
| Top 10 Weight | 56.8% | 37.8%Best |
| Fund Family | Harbor Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Nov 16, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.8 years row, are measured over the window both funds cover: Nov 17, 2022 to Sep 18, 2026 (3.8 years).
MEDI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.8 years both funds cover.
MEDI vs SPY Performance
Harbor Health Care ETF (MEDI) is an ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MEDI returned +14.98% while SPY returned +16.29%. Year to date, MEDI is up 5.10% versus a gain of 12.09% for SPY.
Over three years, MEDI compounded at +14.46% per year against +21.20% for SPY. Across the full 4-year window we track, SPY has the edge at +20.27% annualized vs +15.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEDI has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 13.0% 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 -19.2% for MEDI and -18.8% 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 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MEDI charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, MEDI currently yields 0.04% against 0.98% for SPY.
Holdings Overlap
44.4% of MEDI's money is in holdings SPY also owns. 4.7% of SPY's money is in holdings MEDI also owns.
The two portfolios partly overlap.
15 positions in common, counted across the 46 positions we hold weights for in MEDI and 504 in SPY, against full books of 44 and 505.
What only one of them owns
Our book lists 482 positions for SPY that do not appear in our book for MEDI (94.7% of the fund), and 25 for MEDI that do not appear in SPY (46.5%).
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 MEDI | Weight in SPY | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 18.39% | 1.40% | 16.99% |
| GILDGilead Sciences | 3.93% | 0.28% | 3.65% |
| ABBVAbbvie Inc. | 2.77% | 0.70% | 2.07% |
| BSXBoston Scientific Corp. | 2.57% | 0.11% | 2.46% |
| CORCencora Inc | 2.23% | 0.10% | 2.13% |
| PODDInsulet Corporation | 2.27% | 0.02% | 2.25% |
| ISRGIntuitive Surgical Inc. | 2.02% | 0.20% | 1.82% |
| MCKMckesson Corp. | 2.02% | 0.17% | 1.85% |
| MRKMerck & Company Inc | 1.37% | 0.56% | 0.81% |
| DHRDanaher Corporation | 1.73% | 0.20% | 1.53% |
44.4% of MEDI 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, MEDI or SPY?
MEDI has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option, by $71 a year on a $10,000 investment.
Which performed better, MEDI or SPY?
Over the past year MEDI returned +14.98% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), MEDI annualized +15.12% vs +20.27% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MEDI or SPY?
MEDI has been the more volatile fund at 16.2% annualized versus 13.0% for SPY. Worst drawdown: MEDI -19.2% vs SPY -18.8%.
Should I hold both MEDI and SPY?
MEDI and SPY have a monthly-return correlation of 0.54, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between MEDI and SPY?
44.4% of MEDI's money is in holdings SPY also owns. 4.7% of SPY's is in holdings MEDI also owns. They hold 15 positions in common, counted across the 46 positions we hold weights for in MEDI and 504 in SPY.
Which pays a higher dividend, MEDI or SPY?
MEDI yields 0.04% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than MEDI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 56.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.