SPY vs XFEB
State Street SPDR S&P 500 ETF Trust vs FT Vest US Equity Enhance & Moderate Buffer ETF - February
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 | XFEB | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.85% | |
| AUM | $789.1B | $31M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 6 | |
| YTD Return | +13.39% | +6.11% | |
| 1Y Return | +22.52% | +10.30% | |
| 3Y Return (annualized) | +21.36% | - | |
| 5Y Return (annualized) | +13.19% | - | |
| Volatility (annualized) | 15.3% | 4.6% | |
| Max Drawdown | -56.5% | -9.1% | |
| Fund Family | State Street Investment Management | First Trust Portfolios (US) | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Feb 20, 2024 |
SPY vs XFEB Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and FT Vest US Equity Enhance & Moderate Buffer ETF - February (XFEB) is a ETF from First Trust Portfolios (US). Over the past year SPY returned +22.52% while XFEB returned +10.30%. Year to date, SPY is up 13.39% versus a gain of 6.11% for XFEB.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.6% for XFEB. 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 -9.1% for XFEB. 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 0.94. 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 XFEB charges 0.85%. On a $10,000 position that is $9 vs $85 annually, a gap of $76 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for XFEB.
Holdings Overlap
SPY and XFEB 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 XFEB?
SPY has an expense ratio of 0.09% while XFEB charges 0.85%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, SPY or XFEB?
Over the past year SPY returned +22.52% vs +10.30% for XFEB, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.84% vs +10.05% for XFEB. Past performance does not guarantee future results.
Which is riskier, SPY or XFEB?
SPY has been the more volatile fund at 15.3% annualized versus 4.6% for XFEB. Worst drawdown: SPY -56.5% vs XFEB -9.1%.
Should I hold both SPY and XFEB?
SPY and XFEB have a monthly-return correlation of 0.94, 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 XFEB?
SPY and XFEB share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or XFEB?
SPY yields 1.01% while XFEB yields 0.00%, so SPY currently pays the higher dividend yield.
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