SPY vs VEGA
State Street SPDR S&P 500 ETF Trust vs AdvisorShares STAR Global Buy-Write ETF
Which is better, SPY or VEGA?
Large Cap Blend against Multi Alternative.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 100.2%.
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 | VEGA |
|---|---|---|
| Expense Ratio | 0.09%Best | 1.25% |
| AUM | $804.7B | $93M |
| Dividend Yield | 0.98% | 1.24% |
| Holdings | 505 | 13 |
| YTD Return | +11.52%Best | +6.59% |
| 1Y Return | +17.48%Best | +10.76% |
| 3Y Return (annualized) | +20.62%Best | +12.95% |
| 5Y Return (annualized) | +12.73%Best | +6.38% |
| Volatility (annualized) | 14.2% | 9.8%Best |
| Max Drawdown | -34.1% | -28.4%Best |
| $10,000 over 5 years | $18,205Best | $13,624 |
| Top 10 Weight | 38.0%Best | 100.2% |
| Fund Family | State Street Investment Management | Advisor Shares |
| Category | Equity | Alternative |
| Style | Large Cap Blend | Multi Alternative |
| Inception | Jan 22, 1993 | Sep 17, 2012 |
Volatility and max drawdown are measured over the window both funds cover: Sep 19, 2012 to Sep 10, 2026 (14 years).
SPY vs VEGA 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 14 years both funds cover.
SPY vs VEGA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and AdvisorShares STAR Global Buy-Write ETF (VEGA) is an ETF from Advisor Shares. Over the past year SPY returned +17.48% while VEGA returned +10.76%. Year to date, SPY is up 11.52% versus a gain of 6.59% for VEGA.
Over three years, SPY compounded at +20.62% per year against +12.95% for VEGA; over five years the annualized figures are +12.73% and +6.38% respectively. Across the full 14-year window we track, SPY has the edge at +13.07% annualized vs +6.02%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 9.8% for VEGA. 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 -28.4% for VEGA. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. 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 VEGA charges 1.25%. On a $10,000 position that is $9 vs $125 annually, a gap of $116 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.24% for VEGA.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 10 in VEGA, totalling 100.0% and 100.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 10 in VEGA, against full books of 505 and 13.
What only one of them owns
Our book lists 10 positions for VEGA that do not appear in our book for SPY (100.2% of the fund), and 494 for SPY that do not appear in VEGA (99.5%).
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.
You are not choosing between two funds in isolation.
Whichever of SPY and VEGA you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or VEGA?
SPY has an expense ratio of 0.09% while VEGA charges 1.25%. SPY is the cheaper option, by $116 a year on a $10,000 investment.
Which performed better, SPY or VEGA?
Over the past year SPY returned +17.48% vs +10.76% for VEGA, so SPY leads on 1-year performance. Over the longest common window we track (14 years), SPY annualized +13.07% vs +6.02% for VEGA. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VEGA?
SPY has been the more volatile fund at 14.2% annualized versus 9.8% for VEGA. Worst drawdown: SPY -34.1% vs VEGA -28.4%.
Should I hold both SPY and VEGA?
SPY and VEGA have a monthly-return correlation of 0.96, 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.
Which pays a higher dividend, SPY or VEGA?
SPY yields 0.98% while VEGA yields 1.24%, so VEGA currently pays the higher dividend yield.
Is VEGA 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 0.96. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 100.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.