SPY vs WDAF
State Street SPDR S&P 500 ETF Trust vs WisdomTree Asia Defense Fund ETF
Which is better, SPY or WDAF?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 63.8%.
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 | WDAF |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.45% |
| AUM | $814.4B | $21M |
| Dividend Yield | 1.01% | 0.13% |
| Holdings | 505 | 69 |
| YTD Return | +12.71%Best | +7.10% |
| 1Y Return | +19.36%Best | +0.53% |
| 3Y Return (annualized) | +21.09% | - |
| 5Y Return (annualized) | +12.69% | - |
| Volatility (annualized) | 13.2%Best | 34.6% |
| Top 10 Weight | 38.0%Best | 63.8% |
| Fund Family | State Street Investment Management | WisdomTree Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Sep 12, 2025 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
SPY vs WDAF 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 WDAF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and WisdomTree Asia Defense Fund ETF (WDAF) is an ETF from WisdomTree Investments. Over the past year SPY returned +19.36% while WDAF returned +0.53%. Year to date, SPY is up 12.71% versus a gain of 7.10% for WDAF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
WDAF has been the more volatile fund, with annualized monthly volatility of 34.6% compared with 13.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.54. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while WDAF charges 0.45%. On a $10,000 position that is $9 vs $45 annually, a gap of $36 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.13% for WDAF.
Holdings Overlap
We hold position weights for 503 holdings in SPY and 62 in WDAF, totalling 100.0% and 100.3% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 503 positions we hold weights for in SPY and 62 in WDAF, against full books of 505 and 69.
What only one of them owns
Our book lists 3 positions for WDAF that do not appear in our book for SPY (8.1% of the fund), and 493 for SPY that do not appear in WDAF (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.
You are not choosing between two funds in isolation.
Whichever of SPY and WDAF 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 WDAF?
SPY has an expense ratio of 0.09% while WDAF charges 0.45%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, SPY or WDAF?
Over the past year SPY returned +19.36% vs +0.53% for WDAF, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or WDAF?
WDAF has been the more volatile fund at 34.6% annualized versus 13.2% for SPY.
Should I hold both SPY and WDAF?
SPY and WDAF have a monthly-return correlation of 0.54, 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 WDAF?
SPY yields 1.01% while WDAF yields 0.13%, so SPY currently pays the higher dividend yield.
Is WDAF better than SPY?
SPY has a lower expense ratio. SPY led over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 63.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.