SPY vs XEMD
State Street SPDR S&P 500 ETF Trust vs BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XEMD | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.29% | |
| AUM | $821.1B | $904M | |
| Dividend Yield | 1.01% | 5.81% | |
| Holdings | 505 | 429 | |
| YTD Return | +12.22% | +1.14% | |
| 1Y Return | +20.83% | +5.95% | |
| 3Y Return (annualized) | +21.70% | +10.18% | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 6.6% | |
| Max Drawdown | -56.5% | -10.0% | |
| Fund Family | State Street Investment Management | BondBloxx | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Jun 30, 2022 |
SPY vs XEMD Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) is a ETF from BondBloxx. Over the past year SPY returned +20.83% while XEMD returned +5.95%. Year to date, SPY is up 12.22% versus a gain of 1.14% for XEMD.
Over three years, SPY compounded at +21.70% per year against +10.18% for XEMD. Across the full 4-year window we track, SPY has the edge at +8.79% annualized vs +8.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.6% for XEMD. 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 -10.0% for XEMD. 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XEMD charges 0.29%. On a $10,000 position that is $9 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 5.81% for XEMD.
Holdings Overlap
SPY and XEMD share 0 holdings out of 645 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 XEMD?
SPY has an expense ratio of 0.09% while XEMD charges 0.29%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, SPY or XEMD?
Over the past year SPY returned +20.83% vs +5.95% for XEMD, so SPY leads on 1-year performance. Over the longest common window we track (4 years), SPY annualized +8.79% vs +8.55% for XEMD. Past performance does not guarantee future results.
Which is riskier, SPY or XEMD?
SPY has been the more volatile fund at 15.3% annualized versus 6.6% for XEMD. Worst drawdown: SPY -56.5% vs XEMD -10.0%.
Should I hold both SPY and XEMD?
SPY and XEMD have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XEMD?
SPY and XEMD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 645 unique securities.
Which pays a higher dividend, SPY or XEMD?
SPY yields 1.01% while XEMD yields 5.81%, so XEMD currently pays the higher dividend yield.
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