SPY vs USFI
SPY vs USFI
State Street SPDR S&P 500 ETF Trust vs BrandywineGLOBAL - US Fixed Income 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 | USFI | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.39% | |
| AUM | $789.1B | $10M | |
| Dividend Yield | 1.01% | 4.25% | |
| Holdings | 505 | 59 | |
| YTD Return | +13.79% | +0.78% | |
| 1Y Return | +23.66% | +3.11% | |
| 3Y Return (annualized) | +21.40% | +4.06% | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.3% | 7.2% | |
| Max Drawdown | -56.5% | -8.5% | |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Jul 25, 2023 |
SPY vs USFI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and BrandywineGLOBAL - US Fixed Income ETF (USFI) is a ETF from Franklin Templeton Investments (US). Over the past year SPY returned +23.66% while USFI returned +3.11%. Year to date, SPY is up 13.79% versus a gain of 0.78% for USFI.
Over three years, SPY compounded at +21.40% per year against +4.06% for USFI. Across the full 3-year window we track, SPY has the edge at +8.85% annualized vs +3.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.2% for USFI. 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 -8.5% for USFI. 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while USFI charges 0.39%. On a $10,000 position that is $9 vs $39 annually, a gap of $30 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 4.25% for USFI.
Holdings Overlap
SPY and USFI share 0 holdings out of 545 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or USFI?
SPY has an expense ratio of 0.09% while USFI charges 0.39%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, SPY or USFI?
Over the past year SPY returned +23.66% vs +3.11% for USFI, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.85% vs +3.84% for USFI. Past performance does not guarantee future results.
Which is riskier, SPY or USFI?
SPY has been the more volatile fund at 15.3% annualized versus 7.2% for USFI. Worst drawdown: SPY -56.5% vs USFI -8.5%.
Should I hold both SPY and USFI?
SPY and USFI have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and USFI?
SPY and USFI share 0 common holdings with a 0.0% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, SPY or USFI?
SPY yields 1.01% while USFI yields 4.25%, so USFI currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.