OBND vs SPY
State Street Loomis Sayles Opportunistic Bond 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 | OBND | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $57M | $789.1B | |
| Dividend Yield | 6.27% | 1.01% | |
| Holdings | 438 | 505 | |
| YTD Return | -2.52% | +13.39% | |
| 1Y Return | +0.09% | +22.52% | |
| 3Y Return (annualized) | +5.35% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 6.3% | 15.3% | |
| Max Drawdown | -15.9% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Sep 27, 2021 | Jan 22, 1993 |
OBND vs SPY Performance
State Street Loomis Sayles Opportunistic Bond ETF (OBND) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OBND returned +0.09% while SPY returned +22.52%. Year to date, OBND is down 2.52% versus a gain of 13.39% for SPY.
Over three years, OBND compounded at +5.35% per year against +21.36% for SPY. Across the full 5-year window we track, SPY has the edge at +8.84% annualized vs +1.43%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.3% for OBND. 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 -15.9% for OBND 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
OBND charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, OBND currently yields 6.27% against 1.01% for SPY.
Holdings Overlap
OBND and SPY share 1 holdings out of 511 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in OBND | Weight in SPY | Difference |
|---|---|---|---|
| BX | 0.05% | 0.14% | 0.09% |
Frequently Asked Questions
Which is cheaper, OBND or SPY?
OBND has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, OBND or SPY?
Over the past year OBND returned +0.09% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), OBND annualized +1.43% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, OBND or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.3% for OBND. Worst drawdown: OBND -15.9% vs SPY -56.5%.
Should I hold both OBND and SPY?
OBND and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OBND and SPY?
OBND and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, OBND or SPY?
OBND yields 6.27% while SPY yields 1.01%, so OBND currently pays the higher dividend yield.
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