SJCP vs SPY
SanJac Alpha Core Plus Bond 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 505 holdings.
Side-by-Side Comparison
| Metric | SJCP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $8M | $821.1B | |
| Dividend Yield | 3.79% | 1.01% | |
| Holdings | 20 | 505 | |
| YTD Return | +1.58% | +12.22% | |
| 1Y Return | +3.69% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 2.1% | 15.3% | |
| Max Drawdown | -2.0% | -56.5% | |
| Fund Family | SanJac Alpha | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Sep 9, 2024 | Jan 22, 1993 |
SJCP vs SPY Performance
SanJac Alpha Core Plus Bond ETF (SJCP) is a ETF from SanJac Alpha and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SJCP returned +3.69% while SPY returned +20.83%. Year to date, SJCP is up 1.58% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 2.1% for SJCP. 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 -2.0% for SJCP 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 0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SJCP charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, SJCP currently yields 3.79% against 1.01% for SPY.
Holdings Overlap
SJCP and SPY share 0 holdings out of 518 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, SJCP or SPY?
SJCP has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, SJCP or SPY?
Over the past year SJCP returned +3.69% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SJCP annualized +4.83% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, SJCP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.1% for SJCP. Worst drawdown: SJCP -2.0% vs SPY -56.5%.
Should I hold both SJCP and SPY?
SJCP and SPY have a monthly-return correlation of 0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SJCP and SPY?
SJCP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, SJCP or SPY?
SJCP yields 3.79% while SPY yields 1.01%, so SJCP currently pays the higher dividend yield.
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