SPY vs ULVM
State Street SPDR S&P 500 ETF Trust vs VictoryShares US Value Momentum ETF
Which is better, SPY or ULVM?
Large Cap Blend against Large Cap Value.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, ULVM over 1Y. The two have moved almost in lockstep, correlation 0.91. ULVM is less concentrated, with 14.4% of the fund in its ten largest positions against 37.8%.
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 | ULVM |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.20% |
| AUM | $804.7B | $263M |
| Dividend Yield | 0.98% | 1.64% |
| Holdings | 505 | 126 |
| YTD Return | +12.09% | +15.36%Best |
| 1Y Return | +16.29% | +20.03%Best |
| 3Y Return (annualized) | +21.20%Best | +20.68% |
| 5Y Return (annualized) | +13.37%Best | +12.21% |
| Volatility (annualized) | 16.2%Best | 16.9% |
| Max Drawdown | -34.1%Best | -40.8% |
| $10,000 over 5 years | $18,728Best | $17,789 |
| Top 10 Weight | 37.8% | 14.4%Best |
| Fund Family | State Street Investment Management | Victory Capital Management Inc. |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Oct 24, 2017 |
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2017 to Sep 18, 2026 (8.9 years).
SPY vs ULVM 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 8.9 years both funds cover.
SPY vs ULVM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and VictoryShares US Value Momentum ETF (ULVM) is an ETF from Victory Capital Management Inc.. Over the past year SPY returned +16.29% while ULVM returned +20.03%. Year to date, SPY is up 12.09% versus a gain of 15.36% for ULVM.
Over three years, SPY compounded at +21.20% per year against +20.68% for ULVM; over five years the annualized figures are +13.37% and +12.21% respectively. Across the full 9-year window we track, SPY has the edge at +14.01% annualized vs +9.98%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ULVM has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.2% 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 -34.1% for SPY and -40.8% for ULVM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. 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 ULVM charges 0.20%. On a $10,000 position that is $9 vs $20 annually, a gap of $11 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.64% for ULVM.
Holdings Overlap
19.4% of SPY's money is in holdings ULVM also owns. 87.1% of ULVM's money is in holdings SPY also owns.
Most of ULVM is already inside SPY. Owning both mostly buys the same companies twice.
106 positions in common, counted across the 504 positions we hold weights for in SPY and 124 in ULVM, against full books of 505 and 126.
What only one of them owns
Our book lists 13 positions for ULVM that do not appear in our book for SPY (10.0% of the fund), and 391 for SPY that do not appear in ULVM (79.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in ULVM | Difference |
|---|---|---|---|
| GOOGLAlphabet Inc,class A | 2.99% | 0.67% | 2.32% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.40% | 1.65% | 0.25% |
| JNJJohnson & Johnson - Common | 0.99% | 1.65% | 0.66% |
| XOMExxon Mobil Corp. | 1.04% | 1.00% | 0.04% |
| MUMicron Technology, Inc. | 1.60% | 0.29% | 1.31% |
| BACBank of America Corp.: Financials | 0.62% | 1.22% | 0.60% |
| CBChubb Ltd. | 0.19% | 1.37% | 1.18% |
| ORealty Income Corp. | 0.09% | 1.47% | 1.38% |
| ATOAtmos Energy Corp | 0.04% | 1.43% | 1.39% |
| LLoews Corp | 0.03% | 1.42% | 1.39% |
87.1% of ULVM 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 ULVM?
SPY has an expense ratio of 0.09% while ULVM charges 0.20%. SPY is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, SPY or ULVM?
Over the past year SPY returned +16.29% vs +20.03% for ULVM, so ULVM leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +14.01% vs +9.98% for ULVM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or ULVM?
ULVM has been the more volatile fund at 16.9% annualized versus 16.2% for SPY. Worst drawdown: SPY -34.1% vs ULVM -40.8%.
Should I hold both SPY and ULVM?
SPY and ULVM have a monthly-return correlation of 0.91, 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 ULVM?
87.1% of ULVM's money is in holdings SPY also owns. 87.1% of ULVM's is in holdings SPY also owns. They hold 106 positions in common, counted across the 504 positions we hold weights for in SPY and 124 in ULVM.
Which pays a higher dividend, SPY or ULVM?
SPY yields 0.98% while ULVM yields 1.64%, so ULVM currently pays the higher dividend yield.
Is ULVM better than SPY?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, ULVM over 1Y. The two have moved almost in lockstep, correlation 0.91. ULVM is less concentrated, with 14.4% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.