QWLD vs SPY
State Street SPDR MSCI World StrategicFactors ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, QWLD or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. QWLD is less concentrated, with 17.5% of the fund in its ten largest positions against 38.0%.
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 | QWLD | SPY |
|---|---|---|
| Expense Ratio | 0.30% | 0.09%Best |
| AUM | $177M | $804.7B |
| Dividend Yield | 1.75% | 0.98% |
| Holdings | 1,281 | 505 |
| YTD Return | +9.17% | +11.52%Best |
| 1Y Return | +14.43% | +17.48%Best |
| 3Y Return (annualized) | +16.14% | +20.62%Best |
| 5Y Return (annualized) | +9.70% | +12.73%Best |
| Volatility (annualized) | 12.6%Best | 14.8% |
| Max Drawdown | -31.9%Best | -34.1% |
| $10,000 over 5 years | $15,887 | $18,205Best |
| Top 10 Weight | 17.5%Best | 38.0% |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 4, 2014 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 5, 2014 to Sep 10, 2026 (12.3 years).
QWLD 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 12.3 years both funds cover.
QWLD vs SPY Performance
State Street SPDR MSCI World StrategicFactors ETF (QWLD) is an ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year QWLD returned +14.43% while SPY returned +17.48%. Year to date, QWLD is up 9.17% versus a gain of 11.52% for SPY.
Over three years, QWLD compounded at +16.14% per year against +20.62% for SPY; over five years the annualized figures are +9.70% and +12.73% respectively. Across the full 12-year window we track, SPY has the edge at +12.41% annualized vs +8.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 12.6% for QWLD. 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 -31.9% for QWLD 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
QWLD charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, QWLD currently yields 1.75% against 0.98% for SPY.
Holdings Overlap
65.4% of QWLD's money is in holdings SPY also owns. 97.9% of SPY's money is in holdings QWLD also owns.
Most of SPY is already inside QWLD. Owning both mostly buys the same companies twice.
446 positions in common, counted across the 1,230 positions we hold weights for in QWLD and 504 in SPY, against full books of 1,281 and 505.
What only one of them owns
Our book lists 57 positions for SPY that do not appear in our book for QWLD (2.1% of the fund), and 51 for QWLD that do not appear in SPY (3.1%).
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.
Top Shared Holdings
| Stock | Weight in QWLD | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 2.38% | 7.71% | 5.33% |
| AAPLApple, Inc | 2.30% | 6.83% | 4.53% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.97% | 5.50% | 2.53% |
| AVGOBroadcom Inc | 1.84% | 2.97% | 1.13% |
| AMZNAmazon.Com Inc | 0.55% | 4.08% | 3.53% |
| GOOGLAlphabet A Usd 0.001 | 1.08% | 3.33% | 2.25% |
| METAMeta Platforms, Inc. | 1.76% | 1.94% | 0.18% |
| GOOGAlphabet Inc | 0.96% | 2.67% | 1.71% |
| LLYEli Lilly & Co. | 1.42% | 1.33% | 0.09% |
| JNJJohnson & Johnson | 1.34% | 0.92% | 0.42% |
97.9% of SPY is already inside QWLD.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, QWLD or SPY?
QWLD has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, QWLD or SPY?
Over the past year QWLD returned +14.43% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), QWLD annualized +8.96% vs +12.41% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, QWLD or SPY?
SPY has been the more volatile fund at 14.8% annualized versus 12.6% for QWLD. Worst drawdown: QWLD -31.9% vs SPY -34.1%.
Should I hold both QWLD and SPY?
QWLD and SPY have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between QWLD and SPY?
97.9% of SPY's money is in holdings QWLD also owns. 97.9% of SPY's is in holdings QWLD also owns. They hold 446 positions in common, counted across the 1,230 positions we hold weights for in QWLD and 504 in SPY.
Which pays a higher dividend, QWLD or SPY?
QWLD yields 1.75% while SPY yields 0.98%, so QWLD currently pays the higher dividend yield.
Is SPY better than QWLD?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.94. QWLD is less concentrated, with 17.5% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.