SPY vs XME
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Metals & Mining ETF
Which is better, SPY or XME?
Large Cap Blend against Small Cap Value.
SPY has a lower expense ratio. SPY led over the full window, XME over 1Y, 3Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.1%.
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 | XME |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.35% |
| AUM | $804.7B | $4.9B |
| Dividend Yield | 0.98% | 0.37% |
| Holdings | 505 | 40 |
| YTD Return | +11.52%Best | +6.87% |
| 1Y Return | +17.48% | +35.71%Best |
| 3Y Return (annualized) | +20.62% | +31.32%Best |
| 5Y Return (annualized) | +12.73% | +21.81%Best |
| Volatility (annualized) | 15.3%Best | 34.5% |
| Max Drawdown | -56.5%Best | -87.3% |
| $10,000 over 5 years | $18,205 | $26,817Best |
| Top 10 Weight | 38.0%Best | 45.1% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Small Cap Value |
| Inception | Jan 22, 1993 | Jun 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2006 to Sep 10, 2026 (20.2 years).
SPY vs XME 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 20.2 years both funds cover.
SPY vs XME Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street SPDR S&P Metals & Mining ETF (XME) is an ETF from State Street Investment Management. Over the past year SPY returned +17.48% while XME returned +35.71%. Year to date, SPY is up 11.52% versus a gain of 6.87% for XME.
Over three years, SPY compounded at +20.62% per year against +31.32% for XME; over five years the annualized figures are +12.73% and +21.81% respectively. Across the full 20-year window we track, SPY has the edge at +9.75% annualized vs +4.98%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XME has been the more volatile fund, with annualized monthly volatility of 34.5% compared with 15.3% 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 -56.5% for SPY and -87.3% for XME. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while XME 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 0.37% for XME.
Holdings Overlap
0.5% of SPY's money is in holdings XME also owns. 17.6% of XME's money is in holdings SPY also owns.
XME and SPY share little of their money.
4 positions in common, counted across the 504 positions we hold weights for in SPY and 40 in XME, against full books of 505 and 40.
What only one of them owns
Our book lists 35 positions for XME that do not appear in our book for SPY (81.0% of the fund), and 491 for SPY that do not appear in XME (99.2%).
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.
You are not choosing between two funds in isolation.
Whichever of SPY and XME 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 XME?
SPY has an expense ratio of 0.09% while XME charges 0.35%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPY or XME?
Over the past year SPY returned +17.48% vs +35.71% for XME, so XME leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +9.75% vs +4.98% for XME. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XME?
XME has been the more volatile fund at 34.5% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XME -87.3%.
Should I hold both SPY and XME?
SPY and XME have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and XME?
17.6% of XME's money is in holdings SPY also owns. 17.6% of XME's is in holdings SPY also owns. They hold 4 positions in common, counted across the 504 positions we hold weights for in SPY and 40 in XME.
Which pays a higher dividend, SPY or XME?
SPY yields 0.98% while XME yields 0.37%, so SPY currently pays the higher dividend yield.
Is XME better than SPY?
SPY has a lower expense ratio. SPY led over the full window, XME over 1Y, 3Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 45.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.