SIXL vs SPY
6 Meridian Low Beta Equity Strategy ETF 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 503 holdings.
Side-by-Side Comparison
| Metric | SIXL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.46% | 0.09% | |
| AUM | $198M | $789.1B | |
| Dividend Yield | 2.21% | 1.01% | |
| Holdings | 241 | 505 | |
| YTD Return | +9.81% | +13.68% | |
| 1Y Return | +11.23% | +21.53% | |
| 3Y Return (annualized) | +9.02% | +21.44% | |
| 5Y Return (annualized) | +4.65% | +13.18% | |
| Volatility (annualized) | 12.4% | 15.3% | |
| Max Drawdown | -16.1% | -56.5% | |
| Fund Family | 6 Meridian ETF | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 11, 2020 | Jan 22, 1993 |
SIXL vs SPY Performance
6 Meridian Low Beta Equity Strategy ETF (SIXL) is a ETF from 6 Meridian ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SIXL returned +11.23% while SPY returned +21.53%. Year to date, SIXL is up 9.81% versus a gain of 13.68% for SPY.
Over three years, SIXL compounded at +9.02% per year against +21.44% for SPY; over five years the annualized figures are +4.65% and +13.18% respectively. Across the full 6-year window we track, SPY has the edge at +8.85% annualized vs +8.70%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.4% for SIXL. 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 -16.1% for SIXL 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SIXL charges 0.46% per year while SPY charges 0.09%. On a $10,000 position that is $46 vs $9 annually, a gap of $37 per year that compounds over a long holding period. On income, SIXL currently yields 2.21% against 1.01% for SPY.
Holdings Overlap
SIXL and SPY share 79 holdings out of 663 unique holdings combined, representing a 8.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SIXL or SPY?
SIXL has an expense ratio of 0.46% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $37 per year of difference.
Which performed better, SIXL or SPY?
Over the past year SIXL returned +11.23% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SIXL annualized +8.70% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SIXL or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.4% for SIXL. Worst drawdown: SIXL -16.1% vs SPY -56.5%.
Should I hold both SIXL and SPY?
SIXL and SPY have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SIXL and SPY?
SIXL and SPY share 79 common holdings with a 8.7% weight overlap. Combined, they hold 663 unique securities.
Which pays a higher dividend, SIXL or SPY?
SIXL yields 2.21% while SPY yields 1.01%, so SIXL currently pays the higher dividend yield.
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