OBOR vs SPY
KraneShares MSCI One Belt One Road Index 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 | OBOR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $4M | $789.1B | |
| Dividend Yield | 1.96% | 1.01% | |
| Holdings | 127 | 505 | |
| YTD Return | +2.97% | +13.39% | |
| 1Y Return | +15.34% | +22.52% | |
| 3Y Return (annualized) | +11.69% | +21.36% | |
| 5Y Return (annualized) | +0.97% | +13.19% | |
| Volatility (annualized) | 16.4% | 15.3% | |
| Max Drawdown | -41.5% | -56.5% | |
| Fund Family | KraneShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 7, 2017 | Jan 22, 1993 |
OBOR vs SPY Performance
KraneShares MSCI One Belt One Road Index ETF (OBOR) is a ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year OBOR returned +15.34% while SPY returned +22.52%. Year to date, OBOR is up 2.97% versus a gain of 13.39% for SPY.
Over three years, OBOR compounded at +11.69% per year against +21.36% for SPY; over five years the annualized figures are +0.97% and +13.19% respectively. Across the full 9-year window we track, SPY has the edge at +8.84% annualized vs +3.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OBOR has been the more volatile fund, with annualized monthly volatility of 16.4% 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 -41.5% for OBOR 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 0.65. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
OBOR 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, OBOR currently yields 1.96% against 1.01% for SPY.
Holdings Overlap
OBOR and SPY share 0 holdings out of 621 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, OBOR or SPY?
OBOR has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, OBOR or SPY?
Over the past year OBOR returned +15.34% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), OBOR annualized +3.71% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, OBOR or SPY?
OBOR has been the more volatile fund at 16.4% annualized versus 15.3% for SPY. Worst drawdown: OBOR -41.5% vs SPY -56.5%.
Should I hold both OBOR and SPY?
OBOR and SPY have a monthly-return correlation of 0.65, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between OBOR and SPY?
OBOR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 621 unique securities.
Which pays a higher dividend, OBOR or SPY?
OBOR yields 1.96% while SPY yields 1.01%, so OBOR currently pays the higher dividend yield.
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