MEM vs SPY
Matthews Emerging Markets Equity Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MEM or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. MEM led over 1Y and 3Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.8%.
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 | MEM | SPY |
|---|---|---|
| Expense Ratio | 0.79% | 0.09%Best |
| AUM | $55M | $804.7B |
| Dividend Yield | 2.89% | 0.98% |
| Holdings | 72 | 505 |
| YTD Return | +18.10%Best | +12.09% |
| 1Y Return | +24.74%Best | +16.29% |
| 3Y Return (annualized) | +21.58%Best | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 17.9% | 14.3%Best |
| Max Drawdown | -19.1% | -18.8%Best |
| $10,000 over 4.2 years | $19,799 | $21,333Best |
| Top 10 Weight | 51.8% | 37.8%Best |
| Fund Family | Matthews Asia Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Jul 13, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Jul 14, 2022 to Sep 18, 2026 (4.2 years).
MEM 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 4.2 years both funds cover.
MEM vs SPY Performance
Matthews Emerging Markets Equity Active ETF (MEM) is an ETF from Matthews Asia Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MEM returned +24.74% while SPY returned +16.29%. Year to date, MEM is up 18.10% versus a gain of 12.09% for SPY.
Over three years, MEM compounded at +21.58% per year against +21.20% for SPY. Across the full 4-year window we track, SPY has the edge at +19.77% annualized vs +17.66%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEM has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 14.3% 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 -19.1% for MEM 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MEM charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, MEM currently yields 2.89% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 65 holdings in MEM and 504 in SPY, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 65 positions we hold weights for in MEM and 504 in SPY, against full books of 72 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for MEM (99.3% of the fund), and 6 for MEM that do not appear in SPY (13.0%).
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.
You are not choosing between two funds in isolation.
Whichever of MEM and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MEM or SPY?
MEM has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, MEM or SPY?
Over the past year MEM returned +24.74% vs +16.29% for SPY, so MEM leads on 1-year performance. Over the longest common window we track (4 years), MEM annualized +17.66% vs +19.77% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MEM or SPY?
MEM has been the more volatile fund at 17.9% annualized versus 14.3% for SPY. Worst drawdown: MEM -19.1% vs SPY -18.8%.
Should I hold both MEM and SPY?
MEM and SPY have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MEM or SPY?
MEM yields 2.89% while SPY yields 0.98%, so MEM currently pays the higher dividend yield.
Is SPY better than MEM?
SPY has a lower expense ratio. MEM led over 1Y and 3Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.