SPY vs VLLU
State Street SPDR S&P 500 ETF Trust vs Harbor AlphaEdge Large Cap Value ETF
Quick Verdict
SPY has a lower expense ratio. VLLU delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | VLLU | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.25% | |
| AUM | $821.1B | $5M | |
| Dividend Yield | 1.01% | 1.35% | |
| Holdings | 505 | 75 | |
| YTD Return | +14.24% | +13.92% | |
| 1Y Return | +21.71% | +23.46% | |
| 3Y Return (annualized) | +22.10% | - | |
| 5Y Return (annualized) | +13.21% | - | |
| Volatility (annualized) | 15.3% | 10.7% | |
| Max Drawdown | -56.5% | -16.6% | |
| Fund Family | State Street Investment Management | Harbor Funds | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 3, 2024 |
SPY vs VLLU Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Harbor AlphaEdge Large Cap Value ETF (VLLU) is a ETF from Harbor Funds. Over the past year SPY returned +21.71% while VLLU returned +23.46%. Year to date, SPY is up 14.24% versus a gain of 13.92% for VLLU.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.7% for VLLU. 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 -16.6% for VLLU. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while VLLU charges 0.25%. On a $10,000 position that is $9 vs $25 annually, a gap of $16 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.35% for VLLU.
Holdings Overlap
SPY and VLLU share 60 holdings out of 518 unique holdings combined, representing a 25.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or VLLU?
SPY has an expense ratio of 0.09% while VLLU charges 0.25%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, SPY or VLLU?
Over the past year SPY returned +21.71% vs +23.46% for VLLU, so VLLU leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.86% vs +18.18% for VLLU. Past performance does not guarantee future results.
Which is riskier, SPY or VLLU?
SPY has been the more volatile fund at 15.3% annualized versus 10.7% for VLLU. Worst drawdown: SPY -56.5% vs VLLU -16.6%.
Should I hold both SPY and VLLU?
SPY and VLLU have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and VLLU?
SPY and VLLU share 60 common holdings with a 25.0% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, SPY or VLLU?
SPY yields 1.01% while VLLU yields 1.35%, so VLLU currently pays the higher dividend yield.
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