SCJ vs SPY
iShares MSCI Japan Small-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SCJ or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SCJ led over 1Y, SPY over 3Y, 5Y and the full window. SCJ is less concentrated, with 6.5% 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 | SCJ | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $261M | $804.7B |
| Dividend Yield | 2.67% | 0.98% |
| Holdings | 794 | 505 |
| YTD Return | +19.24%Best | +12.19% |
| 1Y Return | +21.27%Best | +18.53% |
| 3Y Return (annualized) | +18.46% | +20.88%Best |
| 5Y Return (annualized) | +7.12% | +12.69%Best |
| Volatility (annualized) | 15.0%Best | 15.7% |
| Max Drawdown | -43.7%Best | -54.5% |
| $10,000 over 5 years | $14,104 | $18,173Best |
| Top 10 Weight | 6.5%Best | 38.0% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Dec 20, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 21, 2007 to Sep 9, 2026 (18.7 years).
SCJ 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 18.7 years both funds cover.
SCJ vs SPY Performance
iShares MSCI Japan Small-Cap ETF (SCJ) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SCJ returned +21.27% while SPY returned +18.53%. Year to date, SCJ is up 19.24% versus a gain of 12.19% for SPY.
Over three years, SCJ compounded at +18.46% per year against +20.88% for SPY; over five years the annualized figures are +7.12% and +12.69% respectively. Across the full 19-year window we track, SPY has the edge at +9.58% annualized vs +4.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.0% for SCJ. 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 -43.7% for SCJ and -54.5% 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 0.61. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SCJ charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, SCJ currently yields 2.67% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 788 holdings in SCJ and 504 in SPY, totalling 99.7% and 100.0% 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 788 positions we hold weights for in SCJ and 504 in SPY, against full books of 794 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for SCJ (99.4% of the fund), and 1 for SCJ that do not appear in SPY (0.0%).
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 SCJ 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, SCJ or SPY?
SCJ has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, SCJ or SPY?
Over the past year SCJ returned +21.27% vs +18.53% for SPY, so SCJ leads on 1-year performance. Over the longest common window we track (19 years), SCJ annualized +4.88% vs +9.58% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCJ or SPY?
SPY has been the more volatile fund at 15.7% annualized versus 15.0% for SCJ. Worst drawdown: SCJ -43.7% vs SPY -54.5%.
Should I hold both SCJ and SPY?
SCJ and SPY have a monthly-return correlation of 0.61, 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, SCJ or SPY?
SCJ yields 2.67% while SPY yields 0.98%, so SCJ currently pays the higher dividend yield.
Is SPY better than SCJ?
SPY has a lower expense ratio. SCJ led over 1Y, SPY over 3Y, 5Y and the full window. SCJ is less concentrated, with 6.5% 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.