SPY vs STOX
State Street SPDR S&P 500 ETF Trust vs Horizon Core Equity ETF
Which is better, SPY or STOX?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. STOX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SPY | STOX |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.70% |
| AUM | $804.7B | $225M |
| Dividend Yield | 0.98% | 0.17% |
| Holdings | 505 | 172 |
| YTD Return | +12.09% | +12.58%Best |
| 1Y Return | +16.29% | +16.39%Best |
| 3Y Return (annualized) | +21.20% | - |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 12.0% | 11.7%Best |
| Max Drawdown | -8.9%Best | -9.3% |
| $10,000 over 1.2 years | $12,518 | $12,580Best |
| Top 10 Weight | 37.8%Best | 41.6% |
| Fund Family | State Street Investment Management | Horizon Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jun 25, 2025 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 26, 2025 to Sep 18, 2026 (1.2 years).
SPY vs STOX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.2 years both funds cover.
SPY vs STOX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Horizon Core Equity ETF (STOX) is an ETF from Horizon Funds. Over the past year SPY returned +16.29% while STOX returned +16.39%. Year to date, SPY is up 12.09% versus a gain of 12.58% for STOX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.0% compared with 11.7% for STOX. 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 -8.9% for SPY and -9.3% for STOX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. 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 STOX charges 0.70%. On a $10,000 position that is $9 vs $70 annually, a gap of $61 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.17% for STOX.
Holdings Overlap
77.9% of SPY's money is in holdings STOX also owns. 92.0% of STOX's money is in holdings SPY also owns.
Most of STOX is already inside SPY. Owning both mostly buys the same companies twice.
161 positions in common, counted across the 504 positions we hold weights for in SPY and 166 in STOX, against full books of 505 and 172.
What only one of them owns
Measured across the 504 and 166 positions we hold weights for.
SPY holds 336 positions STOX does not, 21.4% of the fund.
Largest: GOOG 2.39%, BAC 0.62%, PANW 0.45%, CRWD 0.33%, MRVL 0.28%
Top Shared Holdings
| Stock | Weight in SPY | Weight in STOX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.01% | 6.80% | 1.21% |
| AAPLApple, Inc | 7.26% | 6.51% | 0.75% |
| MSFTMicrosoft Corp | 5.66% | 5.22% | 0.44% |
| GOOGLAlphabet Inc,class A | 2.99% | 5.23% | 2.24% |
| AMZNAmazon.Com Inc | 3.79% | 1.88% | 1.91% |
| AVGOBroadcom Inc | 2.66% | 2.76% | 0.10% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.40% | 2.54% | 1.14% |
| MUMicron Technology, Inc. | 1.60% | 2.27% | 0.67% |
| METAMeta Platforms Inc | 1.93% | 1.67% | 0.26% |
| LLYEli Lilly & Co. | 1.40% | 2.00% | 0.60% |
92.0% of STOX is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or STOX?
SPY has an expense ratio of 0.09% while STOX charges 0.70%. SPY is the cheaper option, by $61 a year on a $10,000 investment.
Which performed better, SPY or STOX?
Over the past year SPY returned +16.29% vs +16.39% for STOX, so STOX leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +20.58% vs +21.08% for STOX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or STOX?
SPY has been the more volatile fund at 12.0% annualized versus 11.7% for STOX. Worst drawdown: SPY -8.9% vs STOX -9.3%.
Should I hold both SPY and STOX?
SPY and STOX have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and STOX?
92.0% of STOX's money is in holdings SPY also owns. 92.0% of STOX's is in holdings SPY also owns. They hold 161 positions in common, counted across the 504 positions we hold weights for in SPY and 166 in STOX.
Which pays a higher dividend, SPY or STOX?
SPY yields 0.98% while STOX yields 0.17%, so SPY currently pays the higher dividend yield.
Is STOX better than SPY?
SPY has a lower expense ratio. STOX led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.