RQI vs SPY
Cohen & Steers Quality Income Realty Fund Inc 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 505 holdings.
Side-by-Side Comparison
| Metric | RQI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.45% | 0.09% | |
| AUM | $1,620.47 | $821.1B | |
| Dividend Yield | 8.50% | 1.01% | |
| Holdings | 208 | 505 | |
| YTD Return | +14.62% | +12.71% | |
| 1Y Return | +9.21% | +20.53% | |
| 3Y Return (annualized) | +12.27% | +21.60% | |
| 5Y Return (annualized) | +3.70% | +12.79% | |
| Volatility (annualized) | 33.2% | 15.3% | |
| Max Drawdown | -94.1% | -56.5% | |
| Fund Family | Cohen & Steers Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 28, 2002 | Jan 22, 1993 |
RQI vs SPY Performance
Cohen & Steers Quality Income Realty Fund Inc (RQI) is a ETF from Cohen & Steers Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RQI returned +9.21% while SPY returned +20.53%. Year to date, RQI is up 14.62% versus a gain of 12.71% for SPY.
Over three years, RQI compounded at +12.27% per year against +21.60% for SPY; over five years the annualized figures are +3.70% and +12.79% respectively. Across the full 25-year window we track, SPY has the edge at +8.80% annualized vs +1.08%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RQI has been the more volatile fund, with annualized monthly volatility of 33.2% 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 -94.1% for RQI 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RQI charges 3.45% per year while SPY charges 0.09%. On a $10,000 position that is $345 vs $9 annually, a gap of $336 per year that compounds over a long holding period. On income, RQI currently yields 8.50% against 1.01% for SPY.
Holdings Overlap
RQI and SPY share 22 holdings out of 652 unique holdings combined, representing a 1.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RQI or SPY?
RQI has an expense ratio of 3.45% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $336 per year of difference.
Which performed better, RQI or SPY?
Over the past year RQI returned +9.21% vs +20.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (25 years), RQI annualized +1.08% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, RQI or SPY?
RQI has been the more volatile fund at 33.2% annualized versus 15.3% for SPY. Worst drawdown: RQI -94.1% vs SPY -56.5%.
Should I hold both RQI and SPY?
RQI and SPY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RQI and SPY?
RQI and SPY share 22 common holdings with a 1.9% weight overlap. Combined, they hold 652 unique securities.
Which pays a higher dividend, RQI or SPY?
RQI yields 8.50% while SPY yields 1.01%, so RQI currently pays the higher dividend yield.
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