SPY vs SQLV
State Street SPDR S&P 500 ETF Trust vs Royce Quant Small Cap Quality Value ETF
Quick Verdict
SPY has a lower expense ratio. SQLV delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | SQLV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.60% | |
| AUM | $821.1B | $41M | |
| Dividend Yield | 1.01% | 0.95% | |
| Holdings | 505 | 324 | |
| YTD Return | +12.68% | +27.53% | |
| 1Y Return | +21.82% | +32.37% | |
| 3Y Return (annualized) | +21.98% | +15.33% | |
| 5Y Return (annualized) | +12.89% | +9.35% | |
| Volatility (annualized) | 15.3% | 22.6% | |
| Max Drawdown | -56.5% | -49.8% | |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jul 12, 2017 |
SPY vs SQLV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Royce Quant Small Cap Quality Value ETF (SQLV) is a ETF from Franklin Templeton Investments (US). Over the past year SPY returned +21.82% while SQLV returned +32.37%. Year to date, SPY is up 12.68% versus a gain of 27.53% for SQLV.
Over three years, SPY compounded at +21.98% per year against +15.33% for SQLV; over five years the annualized figures are +12.89% and +9.35% respectively. Across the full 9-year window we track, SQLV has the edge at +9.64% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SQLV has been the more volatile fund, with annualized monthly volatility of 22.6% 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 -56.5% for SPY and -49.8% for SQLV. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while SQLV charges 0.60%. On a $10,000 position that is $9 vs $60 annually, a gap of $51 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.95% for SQLV.
Holdings Overlap
SPY and SQLV share 1 holdings out of 817 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in SQLV | Difference |
|---|---|---|---|
| AOS | 0.01% | 0.24% | 0.23% |
Frequently Asked Questions
Which is cheaper, SPY or SQLV?
SPY has an expense ratio of 0.09% while SQLV charges 0.60%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, SPY or SQLV?
Over the past year SPY returned +21.82% vs +32.37% for SQLV, so SQLV leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +8.81% vs +9.64% for SQLV. Past performance does not guarantee future results.
Which is riskier, SPY or SQLV?
SQLV has been the more volatile fund at 22.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SQLV -49.8%.
Should I hold both SPY and SQLV?
SPY and SQLV have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SQLV?
SPY and SQLV share 1 common holdings with a 0.0% weight overlap. Combined, they hold 817 unique securities.
Which pays a higher dividend, SPY or SQLV?
SPY yields 1.01% while SQLV yields 0.95%, so SPY currently pays the higher dividend yield.
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