SPY vs VFVA
State Street SPDR S&P 500 ETF Trust vs Vanguard US Value Factor ETF
Quick Verdict
SPY has a lower expense ratio. VFVA delivered stronger 1-year returns. VFVA offers more diversification with 693 holdings.
Side-by-Side Comparison
| Metric | SPY | VFVA | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.13% | |
| AUM | $814.4B | $913M | |
| Dividend Yield | 1.01% | 1.77% | |
| Holdings | 505 | 693 | |
| YTD Return | +12.87% | +21.04% | |
| 1Y Return | +21.13% | +27.09% | |
| 3Y Return (annualized) | +20.86% | +17.62% | |
| 5Y Return (annualized) | +12.69% | +12.16% | |
| Volatility (annualized) | 15.3% | 22.9% | |
| Max Drawdown | -56.5% | -48.6% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Feb 13, 2018 |
SPY vs VFVA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard US Value Factor ETF (VFVA) is a ETF from Vanguard (US). Over the past year SPY returned +21.13% while VFVA returned +27.09%. Year to date, SPY is up 12.87% versus a gain of 21.04% for VFVA.
Over three years, SPY compounded at +20.86% per year against +17.62% for VFVA; over five years the annualized figures are +12.69% and +12.16% respectively. Across the full 9-year window we track, VFVA has the edge at +11.32% annualized vs +8.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VFVA has been the more volatile fund, with annualized monthly volatility of 22.9% 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 -48.6% for VFVA. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while VFVA charges 0.13%. On a $10,000 position that is $9 vs $13 annually, a gap of $4 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.77% for VFVA.
Holdings Overlap
SPY and VFVA share 176 holdings out of 1013 unique holdings combined, representing a 16.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or VFVA?
SPY has an expense ratio of 0.09% while VFVA charges 0.13%. SPY is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPY or VFVA?
Over the past year SPY returned +21.13% vs +27.09% for VFVA, so VFVA leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +8.80% vs +11.32% for VFVA. Past performance does not guarantee future results.
Which is riskier, SPY or VFVA?
VFVA has been the more volatile fund at 22.9% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VFVA -48.6%.
Should I hold both SPY and VFVA?
SPY and VFVA have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and VFVA?
SPY and VFVA share 176 common holdings with a 16.9% weight overlap. Combined, they hold 1013 unique securities.
Which pays a higher dividend, SPY or VFVA?
SPY yields 1.01% while VFVA yields 1.77%, so VFVA currently pays the higher dividend yield.
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