SPY vs XLVI
State Street SPDR S&P 500 ETF Trust vs State Street Health Care Select Sector SPDR Premium Income ETF
Which is better, SPY or XLVI?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | XLVI |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.35% |
| AUM | $811.2B | $28M |
| Dividend Yield | 0.98% | 12.55% |
| Holdings | 1,515 | 9 |
| YTD Return | +13.54%Best | +6.50% |
| 1Y Return | +16.25%Best | +14.61% |
| 3Y Return (annualized) | +23.72% | - |
| 5Y Return (annualized) | +13.95% | - |
| Volatility (annualized) | 11.9% | 9.9%Best |
| Max Drawdown | -8.9% | -8.1%Best |
| $10,000 over 1.2 years | $12,351Best | $12,099 |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jul 29, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 30, 2025 to Oct 2, 2026 (1.2 years).
SPY vs XLVI 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 1.2 years both funds cover.
SPY vs XLVI Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) is an ETF from State Street Investment Management. Over the past year SPY returned +16.25% while XLVI returned +14.61%. Year to date, SPY is up 13.54% versus a gain of 6.50% for XLVI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 9.9% for XLVI. 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 -8.9% for SPY and -8.1% for XLVI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.32. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while XLVI charges 0.35%. On a $10,000 position that is $9 vs $35 annually, a gap of $26 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 12.55% for XLVI.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 2 in XLVI, totalling 99.8% and 100.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 2 in XLVI, against full books of 1,515 and 9.
You are not choosing between two funds in isolation.
Whichever of SPY and XLVI 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 XLVI?
SPY has an expense ratio of 0.09% while XLVI charges 0.35%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPY or XLVI?
Over the past year SPY returned +16.25% vs +14.61% for XLVI, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +19.24% vs +17.21% for XLVI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XLVI?
SPY has been the more volatile fund at 11.9% annualized versus 9.9% for XLVI. Worst drawdown: SPY -8.9% vs XLVI -8.1%.
Should I hold both SPY and XLVI?
SPY and XLVI have a monthly-return correlation of 0.32, 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 XLVI?
SPY yields 0.98% while XLVI yields 12.55%, so XLVI currently pays the higher dividend yield.
Is XLVI better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.