SPY vs USDX
State Street SPDR S&P 500 ETF Trust vs SGI Enhanced Core ETF
Which is better, SPY or USDX?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | USDX |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.08% |
| AUM | $804.7B | $306M |
| Dividend Yield | 0.98% | 6.43% |
| Holdings | 505 | 13 |
| YTD Return | +12.89%Best | +3.42% |
| 1Y Return | +17.01%Best | +5.66% |
| 3Y Return (annualized) | +22.46% | - |
| 5Y Return (annualized) | +13.01% | - |
| Volatility (annualized) | 12.0% | 1.0%Best |
| Max Drawdown | -18.8% | -0.9%Best |
| $10,000 over 2.6 years | $15,640Best | $11,909 |
| Top 10 Weight | 37.8% | - |
| Fund Family | State Street Investment Management | Summit Global Investments |
| Category | Equity | Money Market |
| Style | Large Cap Blend | - |
| Inception | Jan 22, 1993 | Feb 29, 2024 |
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Feb 29, 2024 to Sep 24, 2026 (2.6 years).
SPY vs USDX 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 2.6 years both funds cover.
SPY vs USDX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and SGI Enhanced Core ETF (USDX) is an ETF from Summit Global Investments. Over the past year SPY returned +17.01% while USDX returned +5.66%. Year to date, SPY is up 12.89% versus a gain of 3.42% for USDX.
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 1.0% for USDX. 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 -18.8% for SPY and -0.9% for USDX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.00. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while USDX charges 1.08%. On a $10,000 position that is $9 vs $108 annually, a gap of $99 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 6.43% for USDX.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 7 in USDX, totalling 99.9% and 99.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 7 in USDX, against full books of 505 and 13.
What only one of them owns
Our book lists 7 positions for USDX that do not appear in our book for SPY (99.1% of the fund), and 497 for SPY that do not appear in USDX (99.3%).
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.
You are not choosing between two funds in isolation.
Whichever of SPY and USDX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or USDX?
SPY has an expense ratio of 0.09% while USDX charges 1.08%. SPY is the cheaper option, by $99 a year on a $10,000 investment.
Which performed better, SPY or USDX?
Over the past year SPY returned +17.01% vs +5.66% for USDX, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or USDX?
SPY has been the more volatile fund at 12.0% annualized versus 1.0% for USDX. Worst drawdown: SPY -18.8% vs USDX -0.9%.
Should I hold both SPY and USDX?
SPY and USDX have a monthly-return correlation of 0.00, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or USDX?
SPY yields 0.98% while USDX yields 6.43%, so USDX currently pays the higher dividend yield.
Is USDX better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.