SPY vs XDIV
State Street SPDR S&P 500 ETF Trust vs Roundhill S&P 500 No Dividend Target ETF
Which is better, SPY or XDIV?
Nearly the same fund. XDIV costs less.
XDIV has a lower expense ratio. XDIV led over 1Y and the full window. The two have moved almost in lockstep, correlation 1.00.
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 | XDIV |
|---|---|---|
| Expense Ratio | 0.09% | 0.08%Best |
| AUM | $804.7B | $83M |
| Dividend Yield | 0.98% | 0.00% |
| Holdings | 505 | 2 |
| YTD Return | +12.09% | +12.39%Best |
| 1Y Return | +16.29% | +16.46%Best |
| 3Y Return (annualized) | +21.20% | - |
| 5Y Return (annualized) | +13.37% | - |
| Volatility (annualized) | 12.4% | 12.0%Best |
| Max Drawdown | -8.9%Best | -9.2% |
| $10,000 over 1.2 years | $12,325 | $12,351Best |
| Fund Family | State Street Investment Management | Roundhill Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jul 10, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 10, 2025 to Sep 18, 2026 (1.2 years).
SPY vs XDIV 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 covers the 1.2 years both funds cover.
SPY vs XDIV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Roundhill S&P 500 No Dividend Target ETF (XDIV) is an ETF from Roundhill Investments. Over the past year SPY returned +16.29% while XDIV returned +16.46%. Year to date, SPY is up 12.09% versus a gain of 12.39% for XDIV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 12.0% 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 -8.9% for SPY and -9.2% for XDIV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.98% against 0.00% for XDIV.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 1 in XDIV, totalling 99.9% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 1 in XDIV, against full books of 505 and 2.
You are not choosing between two funds in isolation.
Whichever of SPY and XDIV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $1 a year on a $10,000 investment.
Which performed better, SPY or XDIV?
Over the past year SPY returned +16.29% vs +16.46% for XDIV, so XDIV leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +19.03% vs +19.24% for XDIV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XDIV?
SPY has been the more volatile fund at 12.4% annualized versus 12.0% for XDIV. Worst drawdown: SPY -8.9% 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. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, SPY or XDIV?
SPY yields 0.98% while XDIV yields 0.00%, so SPY currently pays the higher dividend yield.
Is XDIV better than SPY?
XDIV has a lower expense ratio. XDIV led over 1Y and the full window. The two have moved almost in lockstep, correlation 1.00. Which one suits a particular account depends on what it is for. This is information, not a recommendation.