RQI vs SPY
Cohen & Steers Quality Income Realty Fund Inc vs State Street SPDR S&P 500 ETF Trust
Which is better, RQI or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | RQI | SPY |
|---|---|---|
| Expense Ratio | 3.45% | 0.09%Best |
| AUM | $1,620.47 | $804.7B |
| Dividend Yield | 8.96% | 0.98% |
| Holdings | 208 | 505 |
| YTD Return | +6.26% | +10.96%Best |
| 1Y Return | +0.93% | +15.52%Best |
| 3Y Return (annualized) | +9.75% | +20.73%Best |
| 5Y Return (annualized) | +1.62% | +12.53%Best |
| Volatility (annualized) | 33.2% | 14.9%Best |
| Max Drawdown | -94.1% | -56.5%Best |
| $10,000 over 5 years | $10,837 | $18,044Best |
| Fund Family | Cohen & Steers Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 28, 2002 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 27, 2002 to Sep 16, 2026 (24.6 years).
RQI 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 24.6 years both funds cover.
RQI vs SPY Performance
Cohen & Steers Quality Income Realty Fund Inc (RQI) is an ETF from Cohen & Steers Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RQI returned +0.93% while SPY returned +15.52%. Year to date, RQI is up 6.26% versus a gain of 10.96% for SPY.
Over three years, RQI compounded at +9.75% per year against +20.73% for SPY; over five years the annualized figures are +1.62% and +12.53% respectively. Across the full 25-year window we track, SPY has the edge at +8.42% annualized vs +0.77%.
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 14.9% 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 what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.63. They move together some of the time, and apart the rest.
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 8.96% against 0.98% for SPY.
Holdings Overlap
At least 2.5% of SPY's money is in holdings RQI also owns.
Only one direction is shown: for RQI, our book for it lists positions totalling 138.2% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
SPY and RQI share little of their money.
The two holdings books were reported 154 days apart, RQI as of Mar 31, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
22 positions in common, counted across the 170 positions we hold weights for in RQI and 504 in SPY, against full books of 208 and 505.
Top Shared Holdings
| Stock | Weight in RQI | Weight in SPY | Difference |
|---|---|---|---|
| WELLWelltower, Inc. | 17.16% | 0.26% | 16.90% |
| DLRDigital Realty Trust Inc. | 10.71% | 0.10% | 10.61% |
| AMTAmerican Tower Corporation | 8.41% | 0.12% | 8.29% |
| CCICrown Castle International Corp | 6.89% | 0.05% | 6.84% |
| PLDPrologis Inc | 6.49% | 0.20% | 6.29% |
| EQIXEquinix Inc. Real Estate Investment Trust | 4.71% | 0.15% | 4.56% |
| EXRExtra Space Storage Inc. | 4.75% | 0.05% | 4.70% |
| KIMKimco Realty Corp. | 4.33% | 0.02% | 4.31% |
| IRMIron Mtn Inc New Com Npv | 4.13% | 0.05% | 4.08% |
| SPGSimon Property Group Inc | 3.29% | 0.10% | 3.19% |
You are not choosing between two funds in isolation.
Whichever of RQI 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, RQI or SPY?
RQI has an expense ratio of 3.45% while SPY charges 0.09%. SPY is the cheaper option, by $336 a year on a $10,000 investment.
Which performed better, RQI or SPY?
Over the past year RQI returned +0.93% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (25 years), RQI annualized +0.77% vs +8.42% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RQI or SPY?
RQI has been the more volatile fund at 33.2% annualized versus 14.9% 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 their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between RQI and SPY?
At least 2.5% of SPY's money is in holdings RQI also owns. Our book for RQI is partial, so the real figure is this or higher. They hold 22 positions in common, counted across the 170 positions we hold weights for in RQI and 504 in SPY.
Which pays a higher dividend, RQI or SPY?
RQI yields 8.96% while SPY yields 0.98%, so RQI currently pays the higher dividend yield.
Is SPY better than RQI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.