SPY vs XCEM
State Street SPDR S&P 500 ETF Trust vs Columbia EM Core ex-China ETF
Quick Verdict
SPY has a lower expense ratio. XCEM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | XCEM | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.16% | |
| AUM | $789.1B | $2.0B | |
| Dividend Yield | 1.01% | 2.40% | |
| Holdings | 505 | 338 | |
| YTD Return | +13.68% | +28.75% | |
| 1Y Return | +21.53% | +49.22% | |
| 3Y Return (annualized) | +21.44% | +24.39% | |
| 5Y Return (annualized) | +13.18% | +11.50% | |
| Volatility (annualized) | 15.3% | 19.6% | |
| Max Drawdown | -56.5% | -41.2% | |
| Fund Family | State Street Investment Management | Columbia Threadneedle Investments | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 1, 2015 |
SPY vs XCEM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Columbia EM Core ex-China ETF (XCEM) is a ETF from Columbia Threadneedle Investments. Over the past year SPY returned +21.53% while XCEM returned +49.22%. Year to date, SPY is up 13.68% versus a gain of 28.75% for XCEM.
Over three years, SPY compounded at +21.44% per year against +24.39% for XCEM; over five years the annualized figures are +13.18% and +11.50% respectively. Across the full 11-year window we track, XCEM has the edge at +11.90% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XCEM has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 15.3% for SPY. 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 -56.5% for SPY and -41.2% for XCEM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XCEM charges 0.16%. On a $10,000 position that is $9 vs $16 annually, a gap of $7 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.40% for XCEM.
Holdings Overlap
SPY and XCEM share 0 holdings out of 945 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or XCEM?
SPY has an expense ratio of 0.09% while XCEM charges 0.16%. SPY is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, SPY or XCEM?
Over the past year SPY returned +21.53% vs +49.22% for XCEM, so XCEM leads on 1-year performance. Over the longest common window we track (11 years), SPY annualized +8.85% vs +11.90% for XCEM. Past performance does not guarantee future results.
Which is riskier, SPY or XCEM?
XCEM has been the more volatile fund at 19.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XCEM -41.2%.
Should I hold both SPY and XCEM?
SPY and XCEM have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XCEM?
SPY and XCEM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 945 unique securities.
Which pays a higher dividend, SPY or XCEM?
SPY yields 1.01% while XCEM yields 2.40%, so XCEM currently pays the higher dividend yield.
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