SPY vs VCR
State Street SPDR S&P 500 ETF Trust vs Vanguard Consumer Discretionary ETF
Quick Verdict
VCR has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | VCR | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $789.1B | $6.2B | |
| Dividend Yield | 1.01% | 0.82% | |
| Holdings | 505 | 290 | |
| YTD Return | +14.47% | +2.20% | |
| 1Y Return | +21.96% | +4.97% | |
| 3Y Return (annualized) | +21.70% | +12.48% | |
| 5Y Return (annualized) | +13.30% | +5.55% | |
| Volatility (annualized) | 15.3% | 19.6% | |
| Max Drawdown | -56.5% | -62.7% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 26, 2004 |
SPY vs VCR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Consumer Discretionary ETF (VCR) is a ETF from Vanguard (US). Over the past year SPY returned +21.96% while VCR returned +4.97%. Year to date, SPY is up 14.47% versus a gain of 2.20% for VCR.
Over three years, SPY compounded at +21.70% per year against +12.48% for VCR; over five years the annualized figures are +13.30% and +5.55% respectively. Across the full 23-year window we track, VCR has the edge at +10.02% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VCR has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 15.3% 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 -56.5% for SPY and -62.7% for VCR. 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 0.91. 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 VCR charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.82% for VCR.
Holdings Overlap
SPY and VCR share 47 holdings out of 742 unique holdings combined, representing a 9.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or VCR?
SPY has an expense ratio of 0.09% while VCR charges 0.09%. VCR is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPY or VCR?
Over the past year SPY returned +21.96% vs +4.97% for VCR, so SPY leads on 1-year performance. Over the longest common window we track (23 years), SPY annualized +8.87% vs +10.02% for VCR. Past performance does not guarantee future results.
Which is riskier, SPY or VCR?
VCR has been the more volatile fund at 19.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VCR -62.7%.
Should I hold both SPY and VCR?
SPY and VCR have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and VCR?
SPY and VCR share 47 common holdings with a 9.4% weight overlap. Combined, they hold 742 unique securities.
Which pays a higher dividend, SPY or VCR?
SPY yields 1.01% while VCR yields 0.82%, so SPY currently pays the higher dividend yield.
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