SPY vs XCLR
State Street SPDR S&P 500 ETF Trust vs Global X S&P 500 Collar 95-110 ETF
Which is better, SPY or XCLR?
Each has led over a different period.
SPY has a lower expense ratio. SPY led over the full window, XCLR over 1Y. The two have moved almost in lockstep, correlation 0.92. XCLR is less concentrated, with 38.2% of the fund in its ten largest positions against 38.9%.
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 | XCLR |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.25% |
| AUM | $777.9B | $4M |
| Dividend Yield | 1.00% | 12.68% |
| Holdings | 1,011 | 1,016 |
| Volatility (annualized) | 15.6% | 10.7%Best |
| Max Drawdown | -24.5% | -14.6%Best |
| $10,000 over 5.1 years | $18,259Best | $14,543 |
| Top 10 Weight | 38.9% | 38.2%Best |
| Fund Family | State Street Investment Management | Global X by mirae Asset |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Aug 25, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 26 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. SPY has data through Nov 11, 2026 and XCLR through Oct 16, 2026.
Volatility and max drawdown, and the $10,000 over 5.1 years row, are measured over the window both funds cover: Aug 26, 2021 to Oct 16, 2026 (5.1 years).
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 10.7% for XCLR. 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 -24.5% for SPY and -14.6% for XCLR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while XCLR charges 0.25%. On a $10,000 position that is $9 vs $25 annually, a gap of $16 per year that compounds over a long holding period. On income, SPY currently yields 1.00% against 12.68% for XCLR.
Holdings Overlap
98.9% of SPY's money is in holdings XCLR also owns. 98.6% of XCLR's money is in holdings SPY also owns.
Most of SPY is already inside XCLR. Owning both mostly buys the same companies twice.
484 positions in common, counted across the 504 positions we hold weights for in SPY and 493 in XCLR, against full books of 1,011 and 1,016.
What only one of them owns
Our book lists 7 positions for XCLR that do not appear in our book for SPY (0.6% of the fund), and 16 for SPY that do not appear in XCLR (0.8%).
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 XCLR | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.05% | 8.01% | 0.04% |
| AAPLApple Inc | 7.53% | 7.40% | 0.13% |
| MSFTMicrosoft Corp | 5.96% | 5.58% | 0.38% |
| AMZNAmazon.Com Inc | 3.75% | 3.80% | 0.05% |
| GOOGLAlphabet Inc | 3.07% | 3.02% | 0.05% |
| AVGOBroadcom Inc | 2.48% | 2.60% | 0.12% |
| GOOGAlphabet Inc. C | 2.46% | 2.40% | 0.06% |
| METAMeta Platforms Inc | 2.45% | 2.15% | 0.30% |
| MUMicron Technology, Inc. | 1.55% | 1.68% | 0.13% |
| TSLATesla Inc | 1.56% | 1.56% | 0.00% |
98.9% of SPY is already inside XCLR.
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 XCLR?
SPY has an expense ratio of 0.09% while XCLR charges 0.25%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which is riskier, SPY or XCLR?
SPY has been the more volatile fund at 15.6% annualized versus 10.7% for XCLR. Worst drawdown: SPY -24.5% vs XCLR -14.6%.
Should I hold both SPY and XCLR?
SPY and XCLR have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and XCLR?
98.9% of SPY's money is in holdings XCLR also owns. 98.6% of XCLR's is in holdings SPY also owns. They hold 484 positions in common, counted across the 504 positions we hold weights for in SPY and 493 in XCLR.
Which pays a higher dividend, SPY or XCLR?
SPY yields 1.00% while XCLR yields 12.68%, so XCLR currently pays the higher dividend yield.
Is XCLR better than SPY?
SPY has a lower expense ratio. SPY led over the full window, XCLR over 1Y. The two have moved almost in lockstep, correlation 0.92. XCLR is less concentrated, with 38.2% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.