SPY vs VNIE
State Street SPDR S&P 500 ETF Trust vs Vontobel International Equity Active 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 | VNIE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.60% | |
| AUM | $821.1B | $9M | |
| Dividend Yield | 1.01% | 0.32% | |
| Holdings | 505 | 48 | |
| YTD Return | +14.24% | +2.86% | |
| 1Y Return | +21.71% | +1.75% | |
| 3Y Return (annualized) | +22.10% | - | |
| 5Y Return (annualized) | +13.21% | - | |
| Volatility (annualized) | 15.3% | 15.6% | |
| Max Drawdown | -56.5% | -13.1% | |
| Fund Family | State Street Investment Management | Vontobel | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | May 14, 2025 |
SPY vs VNIE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vontobel International Equity Active ETF (VNIE) is a ETF from Vontobel. Over the past year SPY returned +21.71% while VNIE returned +1.75%. Year to date, SPY is up 14.24% versus a gain of 2.86% for VNIE.
Risk: Volatility and Drawdowns
VNIE has been the more volatile fund, with annualized monthly volatility of 15.6% 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 -13.1% for VNIE. 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 0.61. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while VNIE charges 0.60%. On a $10,000 position that is $9 vs $60 annually, a gap of $51 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.32% for VNIE.
Holdings Overlap
SPY and VNIE share 4 holdings out of 545 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or VNIE?
SPY has an expense ratio of 0.09% while VNIE charges 0.60%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, SPY or VNIE?
Over the past year SPY returned +21.71% vs +1.75% for VNIE, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.86% vs +1.50% for VNIE. Past performance does not guarantee future results.
Which is riskier, SPY or VNIE?
VNIE has been the more volatile fund at 15.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VNIE -13.1%.
Should I hold both SPY and VNIE?
SPY and VNIE have a monthly-return correlation of 0.61, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and VNIE?
SPY and VNIE share 4 common holdings with a 1.1% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, SPY or VNIE?
SPY yields 1.01% while VNIE yields 0.32%, so SPY currently pays the higher dividend yield.
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