SPY vs XDIV
SPY vs XDIV
State Street SPDR S&P 500 ETF Trust vs Roundhill S&P 500 No Dividend Target ETF
Quick Verdict
XDIV has a lower expense ratio. XDIV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | XDIV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.08% | |
| AUM | $789.1B | $66M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 2 | |
| YTD Return | +13.79% | +13.80% | |
| 1Y Return | +23.66% | +23.82% | |
| 3Y Return (annualized) | +21.40% | - | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.3% | 12.4% | |
| Max Drawdown | -56.5% | -9.2% | |
| Fund Family | State Street Investment Management | Roundhill Investments | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jul 10, 2025 |
SPY vs XDIV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Roundhill S&P 500 No Dividend Target ETF (XDIV) is a ETF from Roundhill Investments. Over the past year SPY returned +23.66% while XDIV returned +23.82%. Year to date, SPY is up 13.79% versus a gain of 13.80% for XDIV.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.4% for XDIV. 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 -9.2% for XDIV. 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 1.00. 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 XDIV charges 0.08%. On a $10,000 position that is $9 vs $8 annually, a gap of $1 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for XDIV.
Holdings Overlap
SPY and XDIV share 0 holdings out of 504 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 XDIV?
SPY has an expense ratio of 0.09% while XDIV charges 0.08%. XDIV is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, SPY or XDIV?
Over the past year SPY returned +23.66% vs +23.82% for XDIV, so XDIV leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +8.85% vs +22.92% for XDIV. Past performance does not guarantee future results.
Which is riskier, SPY or XDIV?
SPY has been the more volatile fund at 15.3% annualized versus 12.4% for XDIV. Worst drawdown: SPY -56.5% vs XDIV -9.2%.
Should I hold both SPY and XDIV?
SPY and XDIV have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and XDIV?
SPY and XDIV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or XDIV?
SPY yields 1.01% while XDIV yields 0.00%, so SPY currently pays the higher dividend yield.
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