MEGI vs SPY
NYLI CBRE Global Infrastructure Megatrends Term Fund 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 505 holdings.
Side-by-Side Comparison
| Metric | MEGI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.87% | 0.09% | |
| AUM | $842M | $789.1B | |
| Dividend Yield | 9.10% | 1.01% | |
| Holdings | 64 | 505 | |
| YTD Return | +15.23% | +14.47% | |
| 1Y Return | +17.59% | +21.96% | |
| 3Y Return (annualized) | +15.80% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 22.9% | 15.3% | |
| Max Drawdown | -39.5% | -56.5% | |
| Fund Family | New York Life Investments | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 27, 2021 | Jan 22, 1993 |
MEGI vs SPY Performance
NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) is a ETF from New York Life Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MEGI returned +17.59% while SPY returned +21.96%. Year to date, MEGI is up 15.23% versus a gain of 14.47% for SPY.
Over three years, MEGI compounded at +15.80% per year against +21.70% for SPY. Across the full 5-year window we track, SPY has the edge at +8.87% annualized vs +3.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEGI has been the more volatile fund, with annualized monthly volatility of 22.9% compared with 15.3% 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 -39.5% for MEGI 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MEGI charges 1.87% per year while SPY charges 0.09%. On a $10,000 position that is $187 vs $9 annually, a gap of $178 per year that compounds over a long holding period. On income, MEGI currently yields 9.10% against 1.01% for SPY.
Holdings Overlap
MEGI and SPY share 16 holdings out of 548 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MEGI or SPY?
MEGI has an expense ratio of 1.87% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $178 per year of difference.
Which performed better, MEGI or SPY?
Over the past year MEGI returned +17.59% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), MEGI annualized +3.86% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MEGI or SPY?
MEGI has been the more volatile fund at 22.9% annualized versus 15.3% for SPY. Worst drawdown: MEGI -39.5% vs SPY -56.5%.
Should I hold both MEGI and SPY?
MEGI and SPY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MEGI and SPY?
MEGI and SPY share 16 common holdings with a 1.3% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, MEGI or SPY?
MEGI yields 9.10% while SPY yields 1.01%, so MEGI currently pays the higher dividend yield.
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