SPY vs XOVR
State Street SPDR S&P 500 ETF Trust vs ERShares Private-Public Crossover ETF
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 | XOVR | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 1.81% | |
| AUM | $821.1B | $1.9B | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 33 | |
| YTD Return | +12.71% | +2.45% | |
| 1Y Return | +20.53% | +3.23% | |
| 3Y Return (annualized) | +21.60% | +20.54% | |
| 5Y Return (annualized) | +12.79% | +4.40% | |
| Volatility (annualized) | 15.3% | 24.2% | |
| Max Drawdown | -56.5% | -56.3% | |
| Fund Family | State Street Investment Management | ERShares | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Nov 7, 2017 |
SPY vs XOVR Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and ERShares Private-Public Crossover ETF (XOVR) is a ETF from ERShares. Over the past year SPY returned +20.53% while XOVR returned +3.23%. Year to date, SPY is up 12.71% versus a gain of 2.45% for XOVR.
Over three years, SPY compounded at +21.60% per year against +20.54% for XOVR; over five years the annualized figures are +12.79% and +4.40% respectively. Across the full 9-year window we track, XOVR has the edge at +10.49% annualized vs +8.80%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XOVR has been the more volatile fund, with annualized monthly volatility of 24.2% 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 -56.3% for XOVR. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XOVR charges 1.81%. On a $10,000 position that is $9 vs $181 annually, a gap of $172 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for XOVR.
Holdings Overlap
SPY and XOVR share 13 holdings out of 521 unique holdings combined, representing a 15.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or XOVR?
SPY has an expense ratio of 0.09% while XOVR charges 1.81%. SPY is the cheaper option. On a $10,000 investment, that is $172 per year of difference.
Which performed better, SPY or XOVR?
Over the past year SPY returned +20.53% vs +3.23% for XOVR, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +8.80% vs +10.49% for XOVR. Past performance does not guarantee future results.
Which is riskier, SPY or XOVR?
XOVR has been the more volatile fund at 24.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XOVR -56.3%.
Should I hold both SPY and XOVR?
SPY and XOVR have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XOVR?
SPY and XOVR share 13 common holdings with a 15.9% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, SPY or XOVR?
SPY yields 1.01% while XOVR yields 0.00%, so SPY currently pays the higher dividend yield.
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