SPY vs USMF
State Street SPDR S&P 500 ETF Trust vs WisdomTree US Multifactor Fund
Which is better, SPY or USMF?
Large Cap Blend against Mid Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91.
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 | USMF |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.28% |
| AUM | $777.9B | $232M |
| Dividend Yield | 1.00% | 1.29% |
| Holdings | 1,011 | 403 |
| YTD Return | +12.09%Best | -0.15% |
| 1Y Return | +12.45%Best | -0.76% |
| 3Y Return (annualized) | +21.45%Best | +10.31% |
| 5Y Return (annualized) | +11.87%Best | +5.53% |
| Volatility (annualized) | 15.8% | 14.8%Best |
| Max Drawdown | -34.1%Best | -36.2% |
| $10,000 over 5 years | $17,521Best | $13,088 |
| Fund Family | State Street Investment Management | WisdomTree Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| Inception | Jan 22, 1993 | Jun 29, 2017 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 29, 2017 to Nov 11, 2026 (9.4 years).
SPY vs USMF 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 9.4 years both funds cover.
SPY vs USMF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and WisdomTree US Multifactor Fund (USMF) is an ETF from WisdomTree Investments. Over the past year SPY returned +12.45% while USMF returned -0.76%. Year to date, SPY is up 12.09% versus a loss of 0.15% for USMF.
Over three years, SPY compounded at +21.45% per year against +10.31% for USMF; over five years the annualized figures are +11.87% and +5.53% respectively. Across the full 9-year window we track, SPY has the edge at +13.95% annualized vs +9.43%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.8% compared with 14.8% for USMF. 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 -36.2% for USMF. 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 USMF charges 0.28%. On a $10,000 position that is $9 vs $28 annually, a gap of $19 per year that compounds over a long holding period. On income, SPY currently yields 1.00% against 1.29% for USMF.
Holdings Overlap
At least 38.9% of SPY's money is in holdings USMF also owns.
Stated as a floor: for USMF, our book for it covers 94.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
109 positions in common, counted across the 504 positions we hold weights for in SPY and 195 in USMF, against full books of 1,011 and 403.
Top Shared Holdings
| Stock | Weight in SPY | Weight in USMF | Difference |
|---|---|---|---|
| AAPLApple Inc | 7.53% | 4.52% | 3.01% |
| NVDANvidia Corp | 8.05% | 3.80% | 4.25% |
| AVGOBroadcom Inc | 2.48% | 1.47% | 1.01% |
| LLYEli Lilly & Co | 1.45% | 1.47% | 0.02% |
| MUMicron Technology, Inc. | 1.55% | 1.03% | 0.52% |
| AMDAdvanced Micro Devices Inc | 1.40% | 0.85% | 0.55% |
| JNJJohnson & Johnson - Common | 0.92% | 0.96% | 0.04% |
| ABBVAbbvie Inc. | 0.75% | 0.76% | 0.01% |
| MRKMerck & Company Inc | 0.55% | 0.94% | 0.39% |
| EXPEExpedia Group Inc. | 0.05% | 1.34% | 1.29% |
38.9% of SPY is already inside USMF.
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 USMF?
SPY has an expense ratio of 0.09% while USMF charges 0.28%. SPY is the cheaper option, by $19 a year on a $10,000 investment.
Which performed better, SPY or USMF?
Over the past year SPY returned +12.45% vs -0.76% for USMF, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +13.95% vs +9.43% for USMF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or USMF?
SPY has been the more volatile fund at 15.8% annualized versus 14.8% for USMF. Worst drawdown: SPY -34.1% vs USMF -36.2%.
Should I hold both SPY and USMF?
SPY and USMF 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 USMF?
At least 38.9% of SPY's money is in holdings USMF also owns. Our book for USMF is partial, so the real figure is this or higher. They hold 109 positions in common, counted across the 504 positions we hold weights for in SPY and 195 in USMF.
Which pays a higher dividend, SPY or USMF?
SPY yields 1.00% while USMF yields 1.29%, so USMF currently pays the higher dividend yield.
Is USMF better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.