SPY vs SRHR
State Street SPDR S&P 500 ETF Trust vs SRH REIT Covered Call ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | SRHR | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.75% | |
| AUM | $789.1B | $55M | |
| Dividend Yield | 1.01% | 6.35% | |
| Holdings | 505 | 34 | |
| YTD Return | +13.68% | +14.72% | |
| 1Y Return | +21.53% | +16.60% | |
| 3Y Return (annualized) | +21.44% | - | |
| 5Y Return (annualized) | +13.18% | - | |
| Volatility (annualized) | 15.3% | 13.0% | |
| Max Drawdown | -56.5% | -18.7% | |
| Fund Family | State Street Investment Management | SRH Funds | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Nov 1, 2023 |
SPY vs SRHR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and SRH REIT Covered Call ETF (SRHR) is a ETF from SRH Funds. Over the past year SPY returned +21.53% while SRHR returned +16.60%. Year to date, SPY is up 13.68% versus a gain of 14.72% for SRHR.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.0% for SRHR. 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 -18.7% for SRHR. 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while SRHR charges 0.75%. On a $10,000 position that is $9 vs $75 annually, a gap of $66 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.35% for SRHR.
Holdings Overlap
SPY and SRHR share 8 holdings out of 520 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or SRHR?
SPY has an expense ratio of 0.09% while SRHR charges 0.75%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, SPY or SRHR?
Over the past year SPY returned +21.53% vs +16.60% for SRHR, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.85% vs +11.93% for SRHR. Past performance does not guarantee future results.
Which is riskier, SPY or SRHR?
SPY has been the more volatile fund at 15.3% annualized versus 13.0% for SRHR. Worst drawdown: SPY -56.5% vs SRHR -18.7%.
Should I hold both SPY and SRHR?
SPY and SRHR have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SRHR?
SPY and SRHR share 8 common holdings with a 0.3% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, SPY or SRHR?
SPY yields 1.01% while SRHR yields 6.35%, so SRHR currently pays the higher dividend yield.
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