SPY vs XJUL
State Street SPDR S&P 500 ETF Trust vs FT Vest US Equity Enhance & Moderate Buffer ETF - July
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 | XJUL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.85% | |
| AUM | $821.1B | $43M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 6 | |
| YTD Return | +12.22% | +5.91% | |
| 1Y Return | +20.83% | +9.87% | |
| 3Y Return (annualized) | +21.70% | +10.83% | |
| 5Y Return (annualized) | +12.98% | - | |
| Volatility (annualized) | 15.3% | 4.8% | |
| Max Drawdown | -56.5% | -9.1% | |
| Fund Family | State Street Investment Management | First Trust Portfolios (US) | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jul 21, 2023 |
SPY vs XJUL 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 - July (XJUL) is a ETF from First Trust Portfolios (US). Over the past year SPY returned +20.83% while XJUL returned +9.87%. Year to date, SPY is up 12.22% versus a gain of 5.91% for XJUL.
Over three years, SPY compounded at +21.70% per year against +10.83% for XJUL. Across the full 3-year window we track, XJUL has the edge at +10.08% annualized vs +8.79%. 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 4.8% for XJUL. 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 XJUL. 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 XJUL 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 XJUL.
Holdings Overlap
SPY and XJUL share 0 holdings out of 505 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 XJUL?
SPY has an expense ratio of 0.09% while XJUL 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 XJUL?
Over the past year SPY returned +20.83% vs +9.87% for XJUL, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.79% vs +10.08% for XJUL. Past performance does not guarantee future results.
Which is riskier, SPY or XJUL?
SPY has been the more volatile fund at 15.3% annualized versus 4.8% for XJUL. Worst drawdown: SPY -56.5% vs XJUL -9.1%.
Should I hold both SPY and XJUL?
SPY and XJUL 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 XJUL?
SPY and XJUL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or XJUL?
SPY yields 1.01% while XJUL yields 0.00%, so SPY currently pays the higher dividend yield.
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