SPY vs STOX
State Street SPDR S&P 500 ETF Trust vs Horizon Core Equity 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 | STOX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.70% | |
| AUM | $789.1B | $160M | |
| Dividend Yield | 1.01% | 0.17% | |
| Holdings | 505 | 168 | |
| YTD Return | +13.68% | +13.58% | |
| 1Y Return | +21.53% | +21.07% | |
| 3Y Return (annualized) | +21.44% | - | |
| 5Y Return (annualized) | +13.18% | - | |
| Volatility (annualized) | 15.3% | 12.0% | |
| Max Drawdown | -56.5% | -9.3% | |
| Fund Family | State Street Investment Management | Horizon Funds | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 25, 2025 |
SPY vs STOX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Horizon Core Equity ETF (STOX) is a ETF from Horizon Funds. Over the past year SPY returned +21.53% while STOX returned +21.07%. Year to date, SPY is up 13.68% versus a gain of 13.58% for STOX.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.0% 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 -56.5% for SPY and -9.3% for STOX. 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 0.99. 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 1.01% against 0.17% for STOX.
Holdings Overlap
SPY and STOX share 162 holdings out of 507 unique holdings combined, representing a 68.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
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. On a $10,000 investment, that is $61 per year of difference.
Which performed better, SPY or STOX?
Over the past year SPY returned +21.53% vs +21.07% for STOX, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.85% vs +24.14% for STOX. Past performance does not guarantee future results.
Which is riskier, SPY or STOX?
SPY has been the more volatile fund at 15.3% annualized versus 12.0% for STOX. Worst drawdown: SPY -56.5% 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and STOX?
SPY and STOX share 162 common holdings with a 68.3% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, SPY or STOX?
SPY yields 1.01% while STOX yields 0.17%, so SPY currently pays the higher dividend yield.
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