SPY vs SQLT
State Street SPDR S&P 500 ETF Trust vs iShares MSCI USA Small-Cap Quality Factor ETF
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | SQLT | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.20% | |
| AUM | $821.1B | $7M | |
| Dividend Yield | 1.01% | 0.19% | |
| Holdings | 505 | 484 | |
| YTD Return | +14.24% | +14.95% | |
| 1Y Return | +21.71% | - | |
| 3Y Return (annualized) | +22.10% | - | |
| 5Y Return (annualized) | +13.21% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -4.0% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Mar 31, 2026 |
SPY vs SQLT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares MSCI USA Small-Cap Quality Factor ETF (SQLT) is a ETF from iShares by BlackRock (US). Year to date, SPY is up 14.24% versus a gain of 14.95% for SQLT.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -4.0% for SQLT. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while SQLT 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 0.19% for SQLT.
Holdings Overlap
SPY and SQLT share 21 holdings out of 972 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or SQLT?
SPY has an expense ratio of 0.09% while SQLT charges 0.20%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
What is the holdings overlap between SPY and SQLT?
SPY and SQLT share 21 common holdings with a 0.4% weight overlap. Combined, they hold 972 unique securities.
Which pays a higher dividend, SPY or SQLT?
SPY yields 1.01% while SQLT yields 0.19%, so SPY currently pays the higher dividend yield.
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