SPEU vs SPY
State Street SPDR Portfolio Europe ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPEU has a lower expense ratio. SPY delivered stronger 1-year returns. SPEU offers more diversification with 1664 holdings.
Side-by-Side Comparison
| Metric | SPEU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.09% | |
| AUM | $714M | $789.1B | |
| Dividend Yield | 3.44% | 1.01% | |
| Holdings | 1,737 | 505 | |
| YTD Return | +10.80% | +14.47% | |
| 1Y Return | +20.55% | +21.96% | |
| 3Y Return (annualized) | +17.80% | +21.70% | |
| 5Y Return (annualized) | +8.86% | +13.30% | |
| Volatility (annualized) | 18.1% | 15.3% | |
| Max Drawdown | -64.5% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 15, 2002 | Jan 22, 1993 |
SPEU vs SPY Performance
State Street SPDR Portfolio Europe ETF (SPEU) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPEU returned +20.55% while SPY returned +21.96%. Year to date, SPEU is up 10.80% versus a gain of 14.47% for SPY.
Over three years, SPEU compounded at +17.80% per year against +21.70% for SPY; over five years the annualized figures are +8.86% and +13.30% respectively. Across the full 24-year window we track, SPY has the edge at +8.87% annualized vs +4.12%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPEU has been the more volatile fund, with annualized monthly volatility of 18.1% 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 -64.5% for SPEU 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPEU charges 0.07% per year while SPY charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, SPEU currently yields 3.44% against 1.01% for SPY.
Holdings Overlap
SPEU and SPY share 4 holdings out of 2163 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPEU or SPY?
SPEU has an expense ratio of 0.07% while SPY charges 0.09%. SPEU is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, SPEU or SPY?
Over the past year SPEU returned +20.55% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (24 years), SPEU annualized +4.12% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, SPEU or SPY?
SPEU has been the more volatile fund at 18.1% annualized versus 15.3% for SPY. Worst drawdown: SPEU -64.5% vs SPY -56.5%.
Should I hold both SPEU and SPY?
SPEU and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPEU and SPY?
SPEU and SPY share 4 common holdings with a 0.2% weight overlap. Combined, they hold 2163 unique securities.
Which pays a higher dividend, SPEU or SPY?
SPEU yields 3.44% while SPY yields 1.01%, so SPEU currently pays the higher dividend yield.
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