SPY vs XCHG
State Street SPDR S&P 500 ETF Trust vs AB US Equity ETF
Which is better, SPY or XCHG?
SPY costs less.
SPY has a lower expense ratio. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.3%.
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 | XCHG |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.50% |
| AUM | $804.7B | $710M |
| Dividend Yield | 0.98% | 0.36% |
| Holdings | 505 | 591 |
| YTD Return | +12.47%Best | +9.82% |
| 1Y Return | +17.51% | - |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Top 10 Weight | 38.0%Best | 41.3% |
| Fund Family | State Street Investment Management | AllianceBernstein L.P. |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Dec 12, 2025 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
SPY vs XCHG 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 XCHG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and AB US Equity ETF (XCHG) is an ETF from AllianceBernstein L.P.. Year to date, SPY is up 12.47% versus a gain of 9.82% for XCHG.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPY charges 0.09% per year while XCHG charges 0.50%. On a $10,000 position that is $9 vs $50 annually, a gap of $41 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.36% for XCHG.
Holdings Overlap
86.8% of SPY's money is in holdings XCHG also owns. 87.2% of XCHG's money is in holdings SPY also owns.
Most of XCHG is already inside SPY. Owning both mostly buys the same companies twice.
367 positions in common, counted across the 504 positions we hold weights for in SPY and 586 in XCHG, against full books of 505 and 591.
What only one of them owns
Our book lists 93 positions for XCHG that do not appear in our book for SPY (8.0% of the fund), and 131 for SPY that do not appear in XCHG (12.8%).
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.
Top Shared Holdings
| Stock | Weight in SPY | Weight in XCHG | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.71% | 8.06% | 0.35% |
| AAPLApple, Inc | 6.83% | 5.11% | 1.72% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 6.20% | 0.70% |
| AMZNAmazon.Com Inc | 4.08% | 4.97% | 0.89% |
| GOOGAlphabet Inc | 2.67% | 3.91% | 1.24% |
| AVGOBroadcom Inc | 2.97% | 3.49% | 0.52% |
| GOOGLAlphabet A Usd 0.001 | 3.33% | 2.30% | 1.03% |
| METAMeta Platforms, Inc. | 1.94% | 2.85% | 0.91% |
| VVisa Inc | 0.92% | 2.78% | 1.86% |
| LLYEli Lilly & Co. | 1.33% | 0.91% | 0.42% |
87.2% of XCHG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or XCHG?
SPY has an expense ratio of 0.09% while XCHG charges 0.50%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
What is the holdings overlap between SPY and XCHG?
87.2% of XCHG's money is in holdings SPY also owns. 87.2% of XCHG's is in holdings SPY also owns. They hold 367 positions in common, counted across the 504 positions we hold weights for in SPY and 586 in XCHG.
Which pays a higher dividend, SPY or XCHG?
SPY yields 0.98% while XCHG yields 0.36%, so SPY currently pays the higher dividend yield.
Is XCHG better than SPY?
SPY has a lower expense ratio. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 41.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.