SPY vs XJR
State Street SPDR S&P 500 ETF Trust vs iShares ESG Select Screened S&P Small-Cap ETF
Which is better, SPY or XJR?
Large Cap Blend against Small Cap Blend.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, XJR over 1Y. XJR is less concentrated, with 8.0% of the fund in its ten largest positions against 38.9%.
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 | XJR |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.12% |
| AUM | $777.9B | $210M |
| Dividend Yield | 1.00% | 0.93% |
| Holdings | 1,011 | 1,208 |
| YTD Return | +12.09% | +17.47%Best |
| 1Y Return | +12.45% | +20.18%Best |
| 3Y Return (annualized) | +21.45%Best | +17.36% |
| 5Y Return (annualized) | +11.87%Best | +4.84% |
| Volatility (annualized) | 15.2%Best | 20.2% |
| Max Drawdown | -24.5%Best | -27.1% |
| $10,000 over 5 years | $17,521Best | $12,666 |
| Top 10 Weight | 38.9% | 8.0%Best |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Blend |
| Inception | Jan 22, 1993 | Sep 22, 2020 |
Volatility and max drawdown are measured over the window both funds cover: Sep 24, 2020 to Nov 11, 2026 (6.1 years).
SPY vs XJR 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 6.1 years both funds cover.
SPY vs XJR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and iShares ESG Select Screened S&P Small-Cap ETF (XJR) is an ETF from iShares by BlackRock (US). Over the past year SPY returned +12.45% while XJR returned +20.18%. Year to date, SPY is up 12.09% versus a gain of 17.47% for XJR.
Over three years, SPY compounded at +21.45% per year against +17.36% for XJR; over five years the annualized figures are +11.87% and +4.84% respectively. Across the full 6-year window we track, SPY has the edge at +16.39% annualized vs +13.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XJR has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 15.2% for SPY. 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 -24.5% for SPY and -27.1% for XJR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XJR charges 0.12%. On a $10,000 position that is $9 vs $12 annually, a gap of $3 per year that compounds over a long holding period. On income, SPY currently yields 1.00% against 0.93% for XJR.
Holdings Overlap
0.1% of SPY's money is in holdings XJR also owns. 0.1% of XJR's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 504 positions we hold weights for in SPY and 543 in XJR, against full books of 1,011 and 1,208.
What only one of them owns
Our book lists 526 positions for XJR that do not appear in our book for SPY (95.9% of the fund), and 498 for SPY that do not appear in XJR (99.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SPY | Weight in XJR | Difference |
|---|---|---|---|
| CORCencora Inc | 0.10% | 0.14% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of SPY and XJR 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 XJR?
SPY has an expense ratio of 0.09% while XJR charges 0.12%. SPY is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, SPY or XJR?
Over the past year SPY returned +12.45% vs +20.18% for XJR, so XJR leads on 1-year performance. Over the longest common window we track (6 years), SPY annualized +16.39% vs +13.76% for XJR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XJR?
XJR has been the more volatile fund at 20.2% annualized versus 15.2% for SPY. Worst drawdown: SPY -24.5% vs XJR -27.1%.
Should I hold both SPY and XJR?
SPY and XJR have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or XJR?
SPY yields 1.00% while XJR yields 0.93%, so SPY currently pays the higher dividend yield.
Is XJR better than SPY?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window, XJR over 1Y. XJR is less concentrated, with 8.0% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.