SPY vs VTWV
State Street SPDR S&P 500 ETF Trust vs Vanguard Russell 2000 Value ETF
Which is better, SPY or VTWV?
Large Cap Blend against Small Cap Value.
VTWV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VTWV over 1Y. VTWV is less concentrated, with 5.6% of the fund in its ten largest positions against 38.0%.
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 | VTWV |
|---|---|---|
| Expense Ratio | 0.09% | 0.06%Best |
| AUM | $804.7B | $1.4B |
| Dividend Yield | 0.98% | 1.60% |
| Holdings | 505 | 1,432 |
| YTD Return | +12.19% | +21.59%Best |
| 1Y Return | +18.53% | +28.69%Best |
| 3Y Return (annualized) | +20.88%Best | +18.54% |
| 5Y Return (annualized) | +12.69%Best | +8.65% |
| Volatility (annualized) | 14.1%Best | 19.4% |
| Max Drawdown | -34.1%Best | -47.3% |
| $10,000 over 5 years | $18,173Best | $15,141 |
| Top 10 Weight | 38.0% | 5.6%Best |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Value |
| Inception | Jan 22, 1993 | Sep 20, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2010 to Sep 9, 2026 (16 years).
SPY vs VTWV 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 16 years both funds cover.
SPY vs VTWV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard Russell 2000 Value ETF (VTWV) is an ETF from Vanguard (US). Over the past year SPY returned +18.53% while VTWV returned +28.69%. Year to date, SPY is up 12.19% versus a gain of 21.59% for VTWV.
Over three years, SPY compounded at +20.88% per year against +18.54% for VTWV; over five years the annualized figures are +12.69% and +8.65% respectively. Across the full 16-year window we track, SPY has the edge at +13.20% annualized vs +9.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTWV has been the more volatile fund, with annualized monthly volatility of 19.4% compared with 14.1% 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 -34.1% for SPY and -47.3% for VTWV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 VTWV charges 0.06%. On a $10,000 position that is $9 vs $6 annually, a gap of $3 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.60% for VTWV.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1,419 in VTWV, totalling 100.0% and 100.0% of the two funds. That is not enough of VTWV to divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 1,419 in VTWV, against full books of 505 and 1,432.
What only one of them owns
Our book lists 1,247 positions for VTWV that do not appear in our book for SPY (96.2% of the fund), and 494 for SPY that do not appear in VTWV (99.4%).
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.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VTWV | Difference |
|---|---|---|---|
| AOSAo Smith Corp. | 0.01% | 0.01% | 0.00% |
You are not choosing between two funds in isolation.
Whichever of SPY and VTWV 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 VTWV?
SPY has an expense ratio of 0.09% while VTWV charges 0.06%. VTWV is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SPY or VTWV?
Over the past year SPY returned +18.53% vs +28.69% for VTWV, so VTWV leads on 1-year performance. Over the longest common window we track (16 years), SPY annualized +13.20% vs +9.42% for VTWV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VTWV?
VTWV has been the more volatile fund at 19.4% annualized versus 14.1% for SPY. Worst drawdown: SPY -34.1% vs VTWV -47.3%.
Should I hold both SPY and VTWV?
SPY and VTWV have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or VTWV?
SPY yields 0.98% while VTWV yields 1.60%, so VTWV currently pays the higher dividend yield.
Is VTWV better than SPY?
VTWV has a lower expense ratio. SPY led over 3Y, 5Y and the full window, VTWV over 1Y. VTWV is less concentrated, with 5.6% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.