OBOR vs SPY
KraneShares MSCI One Belt One Road Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OBOR or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 46.9%.
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 | OBOR | SPY |
|---|---|---|
| Expense Ratio | 0.79% | 0.09%Best |
| AUM | $4M | $804.7B |
| Dividend Yield | 1.82% | 0.98% |
| Holdings | 128 | 505 |
| YTD Return | +4.66% | +13.81%Best |
| 1Y Return | +15.28% | +16.94%Best |
| 3Y Return (annualized) | +13.53% | +22.84%Best |
| 5Y Return (annualized) | +1.34% | +13.50%Best |
| Volatility (annualized) | 16.4% | 16.1%Best |
| Max Drawdown | -41.5% | -34.1%Best |
| $10,000 over 5 years | $10,688 | $18,836Best |
| Top 10 Weight | 46.9% | 37.8%Best |
| Fund Family | KraneShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 7, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 8, 2017 to Sep 22, 2026 (9 years).
OBOR 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 9 years both funds cover.
OBOR vs SPY Performance
KraneShares MSCI One Belt One Road Index ETF (OBOR) is an ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year OBOR returned +15.28% while SPY returned +16.94%. Year to date, OBOR is up 4.66% versus a gain of 13.81% for SPY.
Over three years, OBOR compounded at +13.53% per year against +22.84% for SPY; over five years the annualized figures are +1.34% and +13.50% respectively. Across the full 9-year window we track, SPY has the edge at +14.42% annualized vs +3.85%.
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 16.1% 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 -34.1% 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 0.64. They move together some of the time, and apart the rest.
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 1.82% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 113 holdings in OBOR 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 113 positions we hold weights for in OBOR and 504 in SPY, against full books of 128 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for OBOR (99.3% of the fund), and 3 for OBOR that do not appear in SPY (5.9%).
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 OBOR 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, OBOR or SPY?
OBOR 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, OBOR or SPY?
Over the past year OBOR returned +15.28% vs +16.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), OBOR annualized +3.85% vs +14.42% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OBOR or SPY?
OBOR has been the more volatile fund at 16.4% annualized versus 16.1% for SPY. Worst drawdown: OBOR -41.5% vs SPY -34.1%.
Should I hold both OBOR and SPY?
OBOR and SPY have a monthly-return correlation of 0.64, 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, OBOR or SPY?
OBOR yields 1.82% while SPY yields 0.98%, so OBOR currently pays the higher dividend yield.
Is SPY better than OBOR?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 46.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.