SPY vs SPYX
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF
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 | SPY | SPYX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.20% | |
| AUM | $821.1B | $2.9B | |
| Dividend Yield | 1.01% | 0.86% | |
| Holdings | 505 | 493 | |
| YTD Return | +12.71% | +12.20% | |
| 1Y Return | +20.53% | +20.01% | |
| 3Y Return (annualized) | +21.60% | +21.53% | |
| 5Y Return (annualized) | +12.79% | +12.28% | |
| Volatility (annualized) | 15.3% | 15.2% | |
| Max Drawdown | -56.5% | -33.2% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Nov 30, 2015 |
SPY vs SPYX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) is a ETF from State Street Investment Management. Over the past year SPY returned +20.53% while SPYX returned +20.01%. Year to date, SPY is up 12.71% versus a gain of 12.20% for SPYX.
Over three years, SPY compounded at +21.60% per year against +21.53% for SPYX; over five years the annualized figures are +12.79% and +12.28% respectively. Across the full 11-year window we track, SPYX has the edge at +13.67% annualized vs +8.80%. 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 15.2% for SPYX. 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 -56.5% for SPY and -33.2% for SPYX. 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while SPYX charges 0.20%. On a $10,000 position that is $9 vs $20 annually, a gap of $11 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.86% for SPYX.
Holdings Overlap
SPY and SPYX share 486 holdings out of 508 unique holdings combined, representing a 94.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPY or SPYX?
SPY has an expense ratio of 0.09% while SPYX charges 0.20%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, SPY or SPYX?
Over the past year SPY returned +20.53% vs +20.01% for SPYX, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPY annualized +8.80% vs +13.67% for SPYX. Past performance does not guarantee future results.
Which is riskier, SPY or SPYX?
SPY has been the more volatile fund at 15.3% annualized versus 15.2% for SPYX. Worst drawdown: SPY -56.5% vs SPYX -33.2%.
Should I hold both SPY and SPYX?
SPY and SPYX have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and SPYX?
SPY and SPYX share 486 common holdings with a 94.3% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, SPY or SPYX?
SPY yields 1.01% while SPYX yields 0.86%, so SPY currently pays the higher dividend yield.
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