SPY vs VALQ
State Street SPDR S&P 500 ETF Trust vs American Century US Quality Value ETF
Which is better, SPY or VALQ?
Large Cap Blend against Large Cap Value.
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. VALQ is less concentrated, with 23.9% 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 | VALQ |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.29% |
| AUM | $804.7B | $338M |
| Dividend Yield | 0.98% | 1.74% |
| Holdings | 505 | 224 |
| YTD Return | +12.99%Best | +7.70% |
| 1Y Return | +16.73%Best | +11.79% |
| 3Y Return (annualized) | +22.52%Best | +15.08% |
| 5Y Return (annualized) | +13.07%Best | +9.22% |
| Volatility (annualized) | 16.4% | 16.2%Best |
| Max Drawdown | -34.1%Best | -38.2% |
| $10,000 over 5 years | $18,481Best | $15,542 |
| Top 10 Weight | 37.8% | 23.9%Best |
| Fund Family | State Street Investment Management | American Century Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Jan 11, 2018 |
Volatility and max drawdown are measured over the window both funds cover: Jan 16, 2018 to Sep 23, 2026 (8.7 years).
SPY vs VALQ 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 8.7 years both funds cover.
SPY vs VALQ Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and American Century US Quality Value ETF (VALQ) is an ETF from American Century Investments. Over the past year SPY returned +16.73% while VALQ returned +11.79%. Year to date, SPY is up 12.99% versus a gain of 7.70% for VALQ.
Over three years, SPY compounded at +22.52% per year against +15.08% for VALQ; over five years the annualized figures are +13.07% and +9.22% respectively. Across the full 9-year window we track, SPY has the edge at +13.42% annualized vs +7.96%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 16.2% for VALQ. 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 -38.2% for VALQ. 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 VALQ charges 0.29%. On a $10,000 position that is $9 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.74% for VALQ.
Holdings Overlap
64.8% of SPY's money is in holdings VALQ also owns. 84.5% of VALQ's money is in holdings SPY also owns.
Most of VALQ is already inside SPY. Owning both mostly buys the same companies twice.
166 positions in common, counted across the 504 positions we hold weights for in SPY and 241 in VALQ, against full books of 505 and 224.
What only one of them owns
Our book lists 64 positions for VALQ that do not appear in our book for SPY (13.3% of the fund), and 331 for SPY that do not appear in VALQ (34.5%).
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 VALQ | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.26% | 1.46% | 5.80% |
| NVDANvidia Corp | 8.01% | 0.13% | 7.88% |
| MSFTMicrosoft Corp | 5.66% | 0.14% | 5.52% |
| AMZNAmazon.Com Inc | 3.79% | 0.12% | 3.67% |
| MRKMerck & Company Inc | 0.56% | 2.77% | 2.21% |
| UNHUnitedhealth Group Incorporated | 0.55% | 2.73% | 2.18% |
| HDHome Depot Inc/The | 0.48% | 2.64% | 2.16% |
| GOOGLAlphabet Inc,class A | 2.99% | 0.12% | 2.87% |
| PGProcter & Gamble Company | 0.52% | 2.50% | 1.98% |
| BMYBristol-Myers Squibb Co. | 0.21% | 2.77% | 2.56% |
84.5% of VALQ 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 VALQ?
SPY has an expense ratio of 0.09% while VALQ charges 0.29%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, SPY or VALQ?
Over the past year SPY returned +16.73% vs +11.79% for VALQ, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +13.42% vs +7.96% for VALQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VALQ?
SPY has been the more volatile fund at 16.4% annualized versus 16.2% for VALQ. Worst drawdown: SPY -34.1% vs VALQ -38.2%.
Should I hold both SPY and VALQ?
SPY and VALQ 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 VALQ?
84.5% of VALQ's money is in holdings SPY also owns. 84.5% of VALQ's is in holdings SPY also owns. They hold 166 positions in common, counted across the 504 positions we hold weights for in SPY and 241 in VALQ.
Which pays a higher dividend, SPY or VALQ?
SPY yields 0.98% while VALQ yields 1.74%, so VALQ currently pays the higher dividend yield.
Is VALQ 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. VALQ is less concentrated, with 23.9% 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.