SPY vs SRV
State Street SPDR S&P 500 ETF Trust vs NXG Cushing Midstream Energy Fund
Quick Verdict
SPY has a lower expense ratio. SRV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | SRV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 4.25% | |
| AUM | $789.1B | $295M | |
| Dividend Yield | 1.01% | 15.33% | |
| Holdings | 505 | 57 | |
| YTD Return | +13.75% | +23.61% | |
| 1Y Return | +22.91% | +25.56% | |
| 3Y Return (annualized) | +21.67% | +18.79% | |
| 5Y Return (annualized) | +13.32% | +25.85% | |
| Volatility (annualized) | 15.3% | 39.5% | |
| Max Drawdown | -56.5% | -99.6% | |
| Fund Family | State Street Investment Management | Cushing Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Aug 27, 2007 |
SPY vs SRV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and NXG Cushing Midstream Energy Fund (SRV) is a ETF from Cushing Investment Management. Over the past year SPY returned +22.91% while SRV returned +25.56%. Year to date, SPY is up 13.75% versus a gain of 23.61% for SRV.
Over three years, SPY compounded at +21.67% per year against +18.79% for SRV; over five years the annualized figures are +13.32% and +25.85% respectively. Across the full 19-year window we track, SPY has the edge at +8.85% annualized vs -15.06%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SRV has been the more volatile fund, with annualized monthly volatility of 39.5% 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 -99.6% for SRV. 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while SRV charges 4.25%. On a $10,000 position that is $9 vs $425 annually, a gap of $416 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 15.33% for SRV.
Holdings Overlap
SPY and SRV share 15 holdings out of 534 unique holdings combined, representing a 2.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or SRV?
SPY has an expense ratio of 0.09% while SRV charges 4.25%. SPY is the cheaper option. On a $10,000 investment, that is $416 per year of difference.
Which performed better, SPY or SRV?
Over the past year SPY returned +22.91% vs +25.56% for SRV, so SRV leads on 1-year performance. Over the longest common window we track (19 years), SPY annualized +8.85% vs -15.06% for SRV. Past performance does not guarantee future results.
Which is riskier, SPY or SRV?
SRV has been the more volatile fund at 39.5% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SRV -99.6%.
Should I hold both SPY and SRV?
SPY and SRV have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SRV?
SPY and SRV share 15 common holdings with a 2.0% weight overlap. Combined, they hold 534 unique securities.
Which pays a higher dividend, SPY or SRV?
SPY yields 1.01% while SRV yields 15.33%, so SRV currently pays the higher dividend yield.
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