SPY vs XRLV
State Street SPDR S&P 500 ETF Trust vs Invesco S&P 500 ex-Rate Sensitive Low Volatility 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 | XRLV | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.25% | |
| AUM | $821.1B | $29M | |
| Dividend Yield | 1.01% | 2.08% | |
| Holdings | 505 | 102 | |
| YTD Return | +12.68% | +6.61% | |
| 1Y Return | +21.82% | +5.58% | |
| 3Y Return (annualized) | +21.98% | +8.59% | |
| 5Y Return (annualized) | +12.89% | +8.58% | |
| Volatility (annualized) | 15.3% | 13.5% | |
| Max Drawdown | -56.5% | -38.3% | |
| Fund Family | State Street Investment Management | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Apr 6, 2015 |
SPY vs XRLV Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF (XRLV) is a ETF from Invesco (US). Over the past year SPY returned +21.82% while XRLV returned +5.58%. Year to date, SPY is up 12.68% versus a gain of 6.61% for XRLV.
Over three years, SPY compounded at +21.98% per year against +8.59% for XRLV; over five years the annualized figures are +12.89% and +8.58% respectively. Across the full 11-year window we track, XRLV has the edge at +9.89% annualized vs +8.81%. 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 13.5% for XRLV. 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 -38.3% for XRLV. 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 XRLV charges 0.25%. On a $10,000 position that is $9 vs $25 annually, a gap of $16 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.08% for XRLV.
Holdings Overlap
SPY and XRLV share 100 holdings out of 504 unique holdings combined, representing a 14.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or XRLV?
SPY has an expense ratio of 0.09% while XRLV charges 0.25%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, SPY or XRLV?
Over the past year SPY returned +21.82% vs +5.58% for XRLV, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPY annualized +8.81% vs +9.89% for XRLV. Past performance does not guarantee future results.
Which is riskier, SPY or XRLV?
SPY has been the more volatile fund at 15.3% annualized versus 13.5% for XRLV. Worst drawdown: SPY -56.5% vs XRLV -38.3%.
Should I hold both SPY and XRLV?
SPY and XRLV 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 XRLV?
SPY and XRLV share 100 common holdings with a 14.5% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPY or XRLV?
SPY yields 1.01% while XRLV yields 2.08%, so XRLV currently pays the higher dividend yield.
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