SPY vs VNIE
State Street SPDR S&P 500 ETF Trust vs Vontobel International Equity Active ETF
Which is better, SPY or VNIE?
Large Cap Blend against Large Cap Growth.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 40.1%.
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 | VNIE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.60% |
| AUM | $804.7B | $9M |
| Dividend Yield | 0.98% | 0.32% |
| Holdings | 505 | 50 |
| YTD Return | +12.47%Best | -0.96% |
| 1Y Return | +17.51%Best | -2.75% |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 11.9%Best | 14.8% |
| Max Drawdown | -8.9%Best | -13.1% |
| $10,000 over 1.3 years | $13,059Best | $9,813 |
| Top 10 Weight | 38.0%Best | 40.1% |
| Fund Family | State Street Investment Management | Vontobel |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | May 14, 2025 |
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: May 15, 2025 to Sep 11, 2026 (1.3 years).
SPY vs VNIE 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 1.3 years both funds cover.
SPY vs VNIE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vontobel International Equity Active ETF (VNIE) is an ETF from Vontobel. Over the past year SPY returned +17.51% while VNIE returned -2.75%. Year to date, SPY is up 12.47% versus a loss of 0.96% for VNIE.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VNIE has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 11.9% 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 -8.9% for SPY and -13.1% for VNIE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.60. They move together some of the time, and apart the rest.
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 0.98% against 0.32% for VNIE.
Holdings Overlap
1.3% of SPY's money is in holdings VNIE also owns. 8.0% of VNIE's money is in holdings SPY also owns.
VNIE and SPY share little of their money.
3 positions in common, counted across the 504 positions we hold weights for in SPY and 51 in VNIE, against full books of 505 and 50.
What only one of them owns
Our book lists 2 positions for VNIE that do not appear in our book for SPY (3.7% of the fund), and 491 for SPY that do not appear in VNIE (98.2%).
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 VNIE 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 VNIE?
SPY has an expense ratio of 0.09% while VNIE charges 0.60%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, SPY or VNIE?
Over the past year SPY returned +17.51% vs -2.75% for VNIE, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +22.79% vs -1.44% for VNIE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VNIE?
VNIE has been the more volatile fund at 14.8% annualized versus 11.9% for SPY. Worst drawdown: SPY -8.9% vs VNIE -13.1%.
Should I hold both SPY and VNIE?
SPY and VNIE have a monthly-return correlation of 0.60, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and VNIE?
8.0% of VNIE's money is in holdings SPY also owns. 8.0% of VNIE's is in holdings SPY also owns. They hold 3 positions in common, counted across the 504 positions we hold weights for in SPY and 51 in VNIE.
Which pays a higher dividend, SPY or VNIE?
SPY yields 0.98% while VNIE yields 0.32%, so SPY currently pays the higher dividend yield.
Is VNIE better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 40.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.