SPY vs XBFR
State Street SPDR S&P 500 ETF Trust vs Innovator Equity Managed 10 Buffer ETF
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XBFR | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.79% | |
| AUM | $821.1B | $46M | |
| Dividend Yield | 1.01% | 0.10% | |
| Holdings | 505 | 201 | |
| YTD Return | +12.22% | +5.96% | |
| 1Y Return | +20.83% | - | |
| 3Y Return (annualized) | +21.70% | - | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -4.1% | |
| Fund Family | State Street Investment Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 24, 2026 |
SPY vs XBFR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Innovator Equity Managed 10 Buffer ETF (XBFR) is a ETF from Innovator ETFs Trust. Year to date, SPY is up 12.22% versus a gain of 5.96% for XBFR.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -4.1% for XBFR. 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 XBFR charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.10% for XBFR.
Holdings Overlap
SPY and XBFR share 116 holdings out of 573 unique holdings combined, representing a 67.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPY or XBFR?
SPY has an expense ratio of 0.09% while XBFR charges 0.79%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
What is the holdings overlap between SPY and XBFR?
SPY and XBFR share 116 common holdings with a 67.6% weight overlap. Combined, they hold 573 unique securities.
Which pays a higher dividend, SPY or XBFR?
SPY yields 1.01% while XBFR yields 0.10%, so SPY currently pays the higher dividend yield.
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