SPY vs XMAG
State Street SPDR S&P 500 ETF Trust vs Defiance Large Cap ex-Mag 7 ETF
Quick Verdict
SPY has a lower expense ratio. XMAG delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XMAG | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.35% | |
| AUM | $821.1B | $178M | |
| Dividend Yield | 1.01% | 0.46% | |
| Holdings | 505 | 497 | |
| YTD Return | +12.68% | +16.16% | |
| 1Y Return | +21.82% | +23.22% | |
| 3Y Return (annualized) | +21.98% | - | |
| 5Y Return (annualized) | +12.89% | - | |
| Volatility (annualized) | 15.3% | 12.0% | |
| Max Drawdown | -56.5% | -16.2% | |
| Fund Family | State Street Investment Management | Defiance ETFs, LLC | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Oct 21, 2024 |
SPY vs XMAG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Defiance Large Cap ex-Mag 7 ETF (XMAG) is a ETF from Defiance ETFs, LLC. Over the past year SPY returned +21.82% while XMAG returned +23.22%. Year to date, SPY is up 12.68% versus a gain of 16.16% for XMAG.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.0% for XMAG. 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 -16.2% for XMAG. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XMAG 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 1.01% against 0.46% for XMAG.
Holdings Overlap
SPY and XMAG share 421 holdings out of 575 unique holdings combined, representing a 62.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPY or XMAG?
SPY has an expense ratio of 0.09% while XMAG charges 0.35%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, SPY or XMAG?
Over the past year SPY returned +21.82% vs +23.22% for XMAG, so XMAG leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.81% vs +16.63% for XMAG. Past performance does not guarantee future results.
Which is riskier, SPY or XMAG?
SPY has been the more volatile fund at 15.3% annualized versus 12.0% for XMAG. Worst drawdown: SPY -56.5% vs XMAG -16.2%.
Should I hold both SPY and XMAG?
SPY and XMAG have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XMAG?
SPY and XMAG share 421 common holdings with a 62.6% weight overlap. Combined, they hold 575 unique securities.
Which pays a higher dividend, SPY or XMAG?
SPY yields 1.01% while XMAG yields 0.46%, so SPY currently pays the higher dividend yield.
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