SPY vs USSG
State Street SPDR S&P 500 ETF Trust vs Xtrackers MSCI USA Selection Equity ETF
Which is better, SPY or USSG?
Each has led over a different period.
SPY led over 3Y, USSG over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 47.0%.
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 | USSG |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $804.7B | $584M |
| Dividend Yield | 0.98% | 0.95% |
| Holdings | 505 | 269 |
| YTD Return | +11.52%Best | +11.23% |
| 1Y Return | +17.48% | +19.61%Best |
| 3Y Return (annualized) | +20.62%Best | +20.38% |
| 5Y Return (annualized) | +12.73% | +12.76%Best |
| Volatility (annualized) | 16.5%Best | 16.9% |
| Max Drawdown | -34.1%Best | -34.4% |
| $10,000 over 5 years | $18,205 | $18,230Best |
| Top 10 Weight | 38.0%Best | 47.0% |
| Fund Family | State Street Investment Management | Xtrackers ETFs |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Mar 6, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Mar 7, 2019 to Sep 10, 2026 (7.5 years).
SPY vs USSG 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 7.5 years both funds cover.
SPY vs USSG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Xtrackers MSCI USA Selection Equity ETF (USSG) is an ETF from Xtrackers ETFs. Over the past year SPY returned +17.48% while USSG returned +19.61%. Year to date, SPY is up 11.52% versus a gain of 11.23% for USSG.
Over three years, SPY compounded at +20.62% per year against +20.38% for USSG; over five years the annualized figures are +12.73% and +12.76% respectively. Across the full 8-year window we track, USSG has the edge at +16.02% annualized vs +15.58%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USSG has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.5% 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 -34.4% for USSG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. 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 USSG charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, SPY currently yields 0.98% against 0.95% for USSG.
Holdings Overlap
52.5% of SPY's money is in holdings USSG also owns. 97.7% of USSG's money is in holdings SPY also owns.
Most of USSG is already inside SPY. Owning both mostly buys the same companies twice.
238 positions in common, counted across the 504 positions we hold weights for in SPY and 264 in USSG, against full books of 505 and 269.
What only one of them owns
Our book lists 17 positions for USSG that do not appear in our book for SPY (1.2% of the fund), and 260 for SPY that do not appear in USSG (47.2%).
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 USSG | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.71% | 14.61% | 6.90% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 9.81% | 4.31% |
| GOOGLAlphabet A Usd 0.001 | 3.33% | 5.66% | 2.33% |
| GOOGAlphabet Inc | 2.67% | 4.46% | 1.79% |
| TSLATesla Inc | 1.38% | 2.70% | 1.32% |
| LLYEli Lilly & Co. | 1.33% | 2.66% | 1.33% |
| AMDAdvanced Micro Devices Inc. | 1.27% | 2.36% | 1.09% |
| JNJJohnson & Johnson | 0.92% | 1.76% | 0.84% |
| VVisa Inc | 0.92% | 1.72% | 0.80% |
| MAMastercard Inc | 0.69% | 1.31% | 0.62% |
97.7% of USSG 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 USSG?
SPY has an expense ratio of 0.09% while USSG charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, SPY or USSG?
Over the past year SPY returned +17.48% vs +19.61% for USSG, so USSG leads on 1-year performance. Over the longest common window we track (8 years), SPY annualized +15.58% vs +16.02% for USSG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or USSG?
USSG has been the more volatile fund at 16.9% annualized versus 16.5% for SPY. Worst drawdown: SPY -34.1% vs USSG -34.4%.
Should I hold both SPY and USSG?
SPY and USSG have a monthly-return correlation of 0.99, 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 USSG?
97.7% of USSG's money is in holdings SPY also owns. 97.7% of USSG's is in holdings SPY also owns. They hold 238 positions in common, counted across the 504 positions we hold weights for in SPY and 264 in USSG.
Which pays a higher dividend, SPY or USSG?
SPY yields 0.98% while USSG yields 0.95%, so SPY currently pays the higher dividend yield.
Is USSG better than SPY?
SPY led over 3Y, USSG over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 47.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.