SHEH vs SPY
Shell PLC ADRhedged vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SHEH delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SHEH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.09% | |
| AUM | $1M | $821.1B | |
| Dividend Yield | 2.11% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +24.61% | +12.22% | |
| 1Y Return | +31.11% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 23.5% | 15.3% | |
| Max Drawdown | -18.8% | -56.5% | |
| Fund Family | ADRH | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 1, 2024 | Jan 22, 1993 |
SHEH vs SPY Performance
Shell PLC ADRhedged (SHEH) is a ETF from ADRH and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SHEH returned +31.11% while SPY returned +20.83%. Year to date, SHEH is up 24.61% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SHEH has been the more volatile fund, with annualized monthly volatility of 23.5% 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 -18.8% for SHEH 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 -0.28. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SHEH charges 0.19% per year while SPY charges 0.09%. On a $10,000 position that is $19 vs $9 annually, a gap of $10 per year that compounds over a long holding period. On income, SHEH currently yields 2.11% against 1.01% for SPY.
Holdings Overlap
SHEH and SPY share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SHEH or SPY?
SHEH has an expense ratio of 0.19% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, SHEH or SPY?
Over the past year SHEH returned +31.11% vs +20.83% for SPY, so SHEH leads on 1-year performance. Over the longest common window we track (2 years), SHEH annualized +17.82% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SHEH or SPY?
SHEH has been the more volatile fund at 23.5% annualized versus 15.3% for SPY. Worst drawdown: SHEH -18.8% vs SPY -56.5%.
Should I hold both SHEH and SPY?
SHEH and SPY have a monthly-return correlation of -0.28, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SHEH and SPY?
SHEH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, SHEH or SPY?
SHEH yields 2.11% while SPY yields 1.01%, so SHEH currently pays the higher dividend yield.
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