SPY vs XDTE
State Street SPDR S&P 500 ETF Trust vs Roundhill S&P 500 0DTE Covered Call Strategy ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | XDTE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.97% | |
| AUM | $789.1B | $335M | |
| Dividend Yield | 1.01% | 31.53% | |
| Holdings | 505 | 5 | |
| YTD Return | +13.79% | +4.48% | |
| 1Y Return | +23.66% | +13.68% | |
| 3Y Return (annualized) | +21.40% | - | |
| 5Y Return (annualized) | +13.37% | - | |
| Volatility (annualized) | 15.3% | 12.6% | |
| Max Drawdown | -56.5% | -16.7% | |
| Fund Family | State Street Investment Management | Roundhill Investments | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Mar 7, 2024 |
SPY vs XDTE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) is a ETF from Roundhill Investments. Over the past year SPY returned +23.66% while XDTE returned +13.68%. Year to date, SPY is up 13.79% versus a gain of 4.48% for XDTE.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for XDTE. 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 -16.7% for XDTE. 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 0.92. 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 XDTE charges 0.97%. On a $10,000 position that is $9 vs $97 annually, a gap of $88 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 31.53% for XDTE.
Holdings Overlap
SPY and XDTE 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 XDTE?
SPY has an expense ratio of 0.09% while XDTE charges 0.97%. SPY is the cheaper option. On a $10,000 investment, that is $88 per year of difference.
Which performed better, SPY or XDTE?
Over the past year SPY returned +23.66% vs +13.68% for XDTE, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.85% vs +18.24% for XDTE. Past performance does not guarantee future results.
Which is riskier, SPY or XDTE?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for XDTE. Worst drawdown: SPY -56.5% vs XDTE -16.7%.
Should I hold both SPY and XDTE?
SPY and XDTE have a monthly-return correlation of 0.92, 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 XDTE?
SPY and XDTE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or XDTE?
SPY yields 1.01% while XDTE yields 31.53%, so XDTE currently pays the higher dividend yield.
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