SPY vs WCAP
State Street SPDR S&P 500 ETF Trust vs WarCap Unconstrained Equity 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 | WCAP | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.00% | |
| AUM | $814.4B | $62M | |
| Dividend Yield | 1.01% | 0.04% | |
| Holdings | 505 | 31 | |
| YTD Return | +12.87% | -4.65% | |
| 1Y Return | +21.13% | -7.24% | |
| 3Y Return (annualized) | +20.86% | - | |
| 5Y Return (annualized) | +12.69% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -15.9% | |
| Fund Family | State Street Investment Management | Warren Capital Group | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 11, 2025 |
SPY vs WCAP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and WarCap Unconstrained Equity ETF (WCAP) is a ETF from Warren Capital Group. Over the past year SPY returned +21.13% while WCAP returned -7.24%. Year to date, SPY is up 12.87% versus a loss of 4.65% for WCAP.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -15.9% for WCAP. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while WCAP charges 1.00%. On a $10,000 position that is $9 vs $100 annually, a gap of $91 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.04% for WCAP.
Holdings Overlap
SPY and WCAP share 22 holdings out of 512 unique holdings combined, representing a 16.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or WCAP?
SPY has an expense ratio of 0.09% while WCAP charges 1.00%. SPY is the cheaper option. On a $10,000 investment, that is $91 per year of difference.
Which performed better, SPY or WCAP?
Over the past year SPY returned +21.13% vs -7.24% for WCAP, so SPY leads on 1-year performance. Past performance does not guarantee future results.
What is the holdings overlap between SPY and WCAP?
SPY and WCAP share 22 common holdings with a 16.4% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, SPY or WCAP?
SPY yields 1.01% while WCAP yields 0.04%, so SPY currently pays the higher dividend yield.
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