MXE vs SPY
Mexico Equity and Income Fund, Inc vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MXE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MXE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.32% | 0.09% | |
| AUM | $72M | $789.1B | |
| Dividend Yield | 1.44% | 1.01% | |
| Holdings | 30 | 505 | |
| YTD Return | +9.44% | +13.39% | |
| 1Y Return | +26.53% | +22.52% | |
| 3Y Return (annualized) | +12.78% | +21.36% | |
| 5Y Return (annualized) | +3.68% | +13.19% | |
| Volatility (annualized) | 23.6% | 15.3% | |
| Max Drawdown | -58.9% | -56.5% | |
| Fund Family | The Mexico Equity and Income Fund, Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 15, 1990 | Jan 22, 1993 |
MXE vs SPY Performance
Mexico Equity and Income Fund, Inc (MXE) is a ETF from The Mexico Equity and Income Fund, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MXE returned +26.53% while SPY returned +22.52%. Year to date, MXE is up 9.44% versus a gain of 13.39% for SPY.
Over three years, MXE compounded at +12.78% per year against +21.36% for SPY; over five years the annualized figures are +3.68% and +13.19% respectively. Across the full 13-year window we track, SPY has the edge at +8.84% annualized vs +1.73%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MXE has been the more volatile fund, with annualized monthly volatility of 23.6% 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 -58.9% for MXE 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MXE charges 2.32% per year while SPY charges 0.09%. On a $10,000 position that is $232 vs $9 annually, a gap of $223 per year that compounds over a long holding period. On income, MXE currently yields 1.44% against 1.01% for SPY.
Holdings Overlap
MXE and SPY share 0 holdings out of 531 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, MXE or SPY?
MXE has an expense ratio of 2.32% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $223 per year of difference.
Which performed better, MXE or SPY?
Over the past year MXE returned +26.53% vs +22.52% for SPY, so MXE leads on 1-year performance. Over the longest common window we track (13 years), MXE annualized +1.73% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MXE or SPY?
MXE has been the more volatile fund at 23.6% annualized versus 15.3% for SPY. Worst drawdown: MXE -58.9% vs SPY -56.5%.
Should I hold both MXE and SPY?
MXE and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MXE and SPY?
MXE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, MXE or SPY?
MXE yields 1.44% while SPY yields 1.01%, so MXE currently pays the higher dividend yield.
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