SPY vs WARP
State Street SPDR S&P 500 ETF Trust vs VanEck Space ETF
Which is better, SPY or WARP?
Large Cap Blend against All Cap Blend.
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 75.1%.
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 | WARP |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.50% |
| AUM | $804.7B | $32M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 22 |
| YTD Return | +12.09%Best | -19.51% |
| 1Y Return | +16.29% | - |
| 3Y Return (annualized) | +21.20% | - |
| 5Y Return (annualized) | +13.37% | - |
| Top 10 Weight | 37.8%Best | 75.1% |
| Fund Family | State Street Investment Management | VanEck |
| Category | Equity | Equity |
| Style | Large Cap Blend | All Cap Blend |
| Inception | Jan 22, 1993 | May 6, 2026 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
SPY vs WARP 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs WARP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and VanEck Space ETF (WARP) is an ETF from VanEck. Year to date, SPY is up 12.09% versus a loss of 19.51% for WARP.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPY charges 0.09% per year while WARP charges 0.50%. On a $10,000 position that is $9 vs $50 annually, a gap of $41 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.00% for WARP.
Holdings Overlap
4.9% of WARP's money is in holdings SPY also owns.
WARP and SPY share little of their money.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 21 in WARP, against full books of 505 and 22.
What only one of them owns
Our book lists 12 positions for WARP that do not appear in our book for SPY (75.4% of the fund), and 496 for SPY that do not appear in WARP (99.3%).
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 WARP | Difference |
|---|---|---|---|
| SATS'echostar Communications Corp. Class 'a'' | 0.02% | 4.92% | 4.90% |
You are not choosing between two funds in isolation.
Whichever of SPY and WARP 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 WARP?
SPY has an expense ratio of 0.09% while WARP charges 0.50%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
What is the holdings overlap between SPY and WARP?
4.9% of WARP's money is in holdings SPY also owns. 4.9% of WARP's is in holdings SPY also owns. They hold 1 positions in common, counted across the 504 positions we hold weights for in SPY and 21 in WARP.
Which pays a higher dividend, SPY or WARP?
SPY yields 0.98% while WARP yields 0.00%, so SPY currently pays the higher dividend yield.
Is WARP better than SPY?
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 75.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.