SCLZ vs SPY
Swan Enhanced Dividend Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SCLZ or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.1%.
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 | SCLZ | SPY |
|---|---|---|
| Expense Ratio | 0.79% | 0.09%Best |
| AUM | $20M | $804.7B |
| Dividend Yield | 8.11% | 0.98% |
| Holdings | 117 | 505 |
| YTD Return | +3.72% | +12.22%Best |
| 1Y Return | +6.09% | +16.97%Best |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 7.7%Best | 12.0% |
| Max Drawdown | -12.6%Best | -18.8% |
| $10,000 over 2.6 years | $12,413 | $15,619Best |
| Top 10 Weight | 41.1% | 37.8%Best |
| Fund Family | Swan Capital Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 26, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Feb 27, 2024 to Sep 17, 2026 (2.6 years).
SCLZ 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 2.6 years both funds cover.
SCLZ vs SPY Performance
Swan Enhanced Dividend Income ETF (SCLZ) is an ETF from Swan Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SCLZ returned +6.09% while SPY returned +16.97%. Year to date, SCLZ is up 3.72% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 7.7% for SCLZ. 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 -12.6% for SCLZ and -18.8% 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCLZ 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, SCLZ currently yields 8.11% against 0.98% for SPY.
Holdings Overlap
98.8% of SCLZ's money is in holdings SPY also owns. 63.3% of SPY's money is in holdings SCLZ also owns.
Most of SCLZ is already inside SPY. Owning both mostly buys the same companies twice.
68 positions in common, counted across the 71 positions we hold weights for in SCLZ and 504 in SPY, against full books of 117 and 505.
What only one of them owns
Our book lists 430 positions for SPY that do not appear in our book for SCLZ (36.2% of the fund), and 3 for SCLZ that do not appear in SPY (2.8%).
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 SCLZ | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.34% | 8.01% | 1.67% |
| AAPLApple, Inc | 5.76% | 7.26% | 1.50% |
| MSFTMicrosoft Corp | 6.41% | 5.66% | 0.75% |
| AMZNAmazon.Com Inc | 3.69% | 3.79% | 0.10% |
| AVGOBroadcom Inc | 3.26% | 2.66% | 0.60% |
| METAMeta Platforms Inc | 3.43% | 1.93% | 1.50% |
| GOOGLAlphabet Inc,class A | 1.75% | 2.99% | 1.24% |
| JPMJpmorgan Chase | 3.24% | 1.45% | 1.79% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.17% | 1.40% | 1.77% |
| MUMicron Technology, Inc. | 2.90% | 1.60% | 1.30% |
98.8% of SCLZ is already inside SPY.
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, SCLZ or SPY?
SCLZ 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, SCLZ or SPY?
Over the past year SCLZ returned +6.09% vs +16.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCLZ or SPY?
SPY has been the more volatile fund at 12.0% annualized versus 7.7% for SCLZ. Worst drawdown: SCLZ -12.6% vs SPY -18.8%.
Should I hold both SCLZ and SPY?
SCLZ and SPY have a monthly-return correlation of 0.91, 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 SCLZ and SPY?
98.8% of SCLZ's money is in holdings SPY also owns. 63.3% of SPY's is in holdings SCLZ also owns. They hold 68 positions in common, counted across the 71 positions we hold weights for in SCLZ and 504 in SPY.
Which pays a higher dividend, SCLZ or SPY?
SCLZ yields 8.11% while SPY yields 0.98%, so SCLZ currently pays the higher dividend yield.
Is SPY better than SCLZ?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.