SPY vs SZNE
State Street SPDR S&P 500 ETF Trust vs Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | SZNE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.60% | |
| AUM | $821.1B | $13M | |
| Dividend Yield | 1.01% | 1.31% | |
| Holdings | 505 | 230 | |
| YTD Return | +14.24% | +8.58% | |
| 1Y Return | +21.71% | +15.54% | |
| 3Y Return (annualized) | +22.10% | +3.36% | |
| 5Y Return (annualized) | +13.21% | +1.43% | |
| Volatility (annualized) | 15.3% | 18.9% | |
| Max Drawdown | -56.5% | -40.4% | |
| Fund Family | State Street Investment Management | Pacer ETFs | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jul 23, 2018 |
SPY vs SZNE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF (SZNE) is a ETF from Pacer ETFs. Over the past year SPY returned +21.71% while SZNE returned +15.54%. Year to date, SPY is up 14.24% versus a gain of 8.58% for SZNE.
Over three years, SPY compounded at +22.10% per year against +3.36% for SZNE; over five years the annualized figures are +13.21% and +1.43% respectively. Across the full 8-year window we track, SPY has the edge at +8.86% annualized vs +6.37%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SZNE has been the more volatile fund, with annualized monthly volatility of 18.9% 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 -40.4% for SZNE. 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while SZNE 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 1.31% for SZNE.
Holdings Overlap
SPY and SZNE share 214 holdings out of 514 unique holdings combined, representing a 25.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or SZNE?
SPY has an expense ratio of 0.09% while SZNE 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 SZNE?
Over the past year SPY returned +21.71% vs +15.54% for SZNE, so SPY leads on 1-year performance. Over the longest common window we track (8 years), SPY annualized +8.86% vs +6.37% for SZNE. Past performance does not guarantee future results.
Which is riskier, SPY or SZNE?
SZNE has been the more volatile fund at 18.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SZNE -40.4%.
Should I hold both SPY and SZNE?
SPY and SZNE have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and SZNE?
SPY and SZNE share 214 common holdings with a 25.2% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, SPY or SZNE?
SPY yields 1.01% while SZNE yields 1.31%, so SZNE currently pays the higher dividend yield.
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