SPY vs XCNY
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Emerging Markets ex-China ETF
Quick Verdict
SPY has a lower expense ratio. XCNY delivered stronger 1-year returns. XCNY offers more diversification with 1,234 holdings.
Side-by-Side Comparison
| Metric | SPY | XCNY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.19% | |
| AUM | $821.1B | $10M | |
| Dividend Yield | 1.01% | 2.31% | |
| Holdings | 505 | 1,234 | |
| YTD Return | +12.22% | +16.57% | |
| 1Y Return | +20.83% | +28.53% | |
| 3Y Return (annualized) | +21.70% | - | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 14.3% | |
| Max Drawdown | -56.5% | -18.9% | |
| Fund Family | State Street Investment Management | SPDR State Street Global Advisors | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 4, 2024 |
SPY vs XCNY Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and State Street SPDR S&P Emerging Markets ex-China ETF (XCNY) is a ETF from SPDR State Street Global Advisors. Over the past year SPY returned +20.83% while XCNY returned +28.53%. Year to date, SPY is up 12.22% versus a gain of 16.57% for XCNY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.3% for XCNY. 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 -18.9% for XCNY. 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 0.62. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while XCNY charges 0.19%. On a $10,000 position that is $9 vs $19 annually, a gap of $10 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.31% for XCNY.
Holdings Overlap
SPY and XCNY share 1 holdings out of 1699 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in XCNY | Difference |
|---|---|---|---|
| PG | 0.52% | 0.00% | 0.52% |
Frequently Asked Questions
Which is cheaper, SPY or XCNY?
SPY has an expense ratio of 0.09% while XCNY charges 0.19%. SPY is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, SPY or XCNY?
Over the past year SPY returned +20.83% vs +28.53% for XCNY, so XCNY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.79% vs +18.35% for XCNY. Past performance does not guarantee future results.
Which is riskier, SPY or XCNY?
SPY has been the more volatile fund at 15.3% annualized versus 14.3% for XCNY. Worst drawdown: SPY -56.5% vs XCNY -18.9%.
Should I hold both SPY and XCNY?
SPY and XCNY have a monthly-return correlation of 0.62, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XCNY?
SPY and XCNY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1699 unique securities.
Which pays a higher dividend, SPY or XCNY?
SPY yields 1.01% while XCNY yields 2.31%, so XCNY currently pays the higher dividend yield.
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