SPY vs VETZ
State Street SPDR S&P 500 ETF Trust vs Academy Veteran Bond ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | VETZ | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.35% | |
| AUM | $821.1B | $125M | |
| Dividend Yield | 1.01% | 6.15% | |
| Holdings | 505 | 146 | |
| YTD Return | +12.68% | +0.25% | |
| 1Y Return | +21.82% | +4.07% | |
| 3Y Return (annualized) | +21.98% | +5.33% | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 5.5% | |
| Max Drawdown | -56.5% | -5.2% | |
| Fund Family | State Street Investment Management | Academy Asset Management | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Aug 1, 2023 |
SPY vs VETZ Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Academy Veteran Bond ETF (VETZ) is a ETF from Academy Asset Management. Over the past year SPY returned +21.82% while VETZ returned +4.07%. Year to date, SPY is up 12.68% versus a gain of 0.25% for VETZ.
Over three years, SPY compounded at +21.98% per year against +5.33% for VETZ. Across the full 3-year window we track, SPY has the edge at +8.81% annualized vs +4.67%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.5% for VETZ. 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 -5.2% for VETZ. 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 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while VETZ charges 0.35%. On a $10,000 position that is $9 vs $35 annually, a gap of $26 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.15% for VETZ.
Holdings Overlap
SPY and VETZ share 0 holdings out of 512 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or VETZ?
SPY has an expense ratio of 0.09% while VETZ charges 0.35%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, SPY or VETZ?
Over the past year SPY returned +21.82% vs +4.07% for VETZ, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.81% vs +4.67% for VETZ. Past performance does not guarantee future results.
Which is riskier, SPY or VETZ?
SPY has been the more volatile fund at 15.3% annualized versus 5.5% for VETZ. Worst drawdown: SPY -56.5% vs VETZ -5.2%.
Should I hold both SPY and VETZ?
SPY and VETZ have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and VETZ?
SPY and VETZ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, SPY or VETZ?
SPY yields 1.01% while VETZ yields 6.15%, so VETZ currently pays the higher dividend yield.
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