SPY vs WINC
State Street SPDR S&P 500 ETF Trust vs Western Asset Short Duration Income ETF
Which is better, SPY or WINC?
Large Cap Blend against Short Term Bond.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | WINC |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.29% |
| AUM | $804.7B | $12M |
| Dividend Yield | 0.98% | 4.42% |
| Holdings | 505 | 128 |
| Volatility (annualized) | 17.0% | 16.1%Best |
| Max Drawdown | -34.1% | -32.0%Best |
| $10,000 over 6.5 years | $25,285Best | $12,257 |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Short Term Bond |
| Inception | Jan 22, 1993 | Feb 7, 2019 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 391 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SPY has data through Sep 17, 2026 and WINC through Aug 22, 2025.
Volatility and max drawdown, and the $10,000 over 6.5 years row, are measured over the window both funds cover: Feb 8, 2019 to Aug 22, 2025 (6.5 years).
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 17.0% compared with 16.1% for WINC. 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 -32.0% for WINC. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.23. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while WINC charges 0.29%. On a $10,000 position that is $9 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 4.42% for WINC.
You are not choosing between two funds in isolation.
Whichever of SPY and WINC 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 WINC?
SPY has an expense ratio of 0.09% while WINC charges 0.29%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which is riskier, SPY or WINC?
SPY has been the more volatile fund at 17.0% annualized versus 16.1% for WINC. Worst drawdown: SPY -34.1% vs WINC -32.0%.
Should I hold both SPY and WINC?
SPY and WINC have a monthly-return correlation of 0.23, 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 WINC?
SPY yields 0.98% while WINC yields 4.42%, so WINC currently pays the higher dividend yield.
Is WINC better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.