SPY vs XRT
State Street SPDR S&P 500 ETF Trust vs State Street SPDR S&P Retail ETF
Which is better, SPY or XRT?
Large Cap Blend against Mid Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. XRT is less concentrated, with 18.2% of the fund in its ten largest positions against 37.8%.
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 | XRT |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.35% |
| AUM | $804.7B | $361M |
| Dividend Yield | 0.98% | 0.78% |
| Holdings | 505 | 77 |
| YTD Return | +13.82%Best | -3.42% |
| 1Y Return | +16.96%Best | -4.10% |
| 3Y Return (annualized) | +22.97%Best | +12.48% |
| 5Y Return (annualized) | +13.73%Best | -0.86% |
| Volatility (annualized) | 15.2%Best | 24.6% |
| Max Drawdown | -56.5%Best | -66.2% |
| $10,000 over 5 years | $19,027Best | $9,577 |
| Top 10 Weight | 37.8% | 18.2%Best |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Mid Cap Blend |
| Inception | Jan 22, 1993 | Jun 19, 2006 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2006 to Sep 21, 2026 (20.2 years).
SPY vs XRT 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 XRT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street SPDR S&P Retail ETF (XRT) is an ETF from State Street Investment Management. Over the past year SPY returned +16.96% while XRT returned -4.10%. Year to date, SPY is up 13.82% versus a loss of 3.42% for XRT.
Over three years, SPY compounded at +22.97% per year against +12.48% for XRT; over five years the annualized figures are +13.73% and -0.86% respectively. Across the full 20-year window we track, SPY has the edge at +9.84% annualized vs +8.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XRT has been the more volatile fund, with annualized monthly volatility of 24.6% compared with 15.2% 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 -66.2% for XRT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XRT 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 0.78% for XRT.
Holdings Overlap
6.2% of SPY's money is in holdings XRT also owns. 23.8% of XRT's money is in holdings SPY also owns.
XRT and SPY share little of their money.
17 positions in common, counted across the 504 positions we hold weights for in SPY and 76 in XRT, against full books of 505 and 77.
What only one of them owns
Our book lists 58 positions for XRT that do not appear in our book for SPY (74.7% of the fund), and 480 for SPY that do not appear in XRT (93.2%).
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.
Top Shared Holdings
| Stock | Weight in SPY | Weight in XRT | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 3.79% | 1.50% | 2.29% |
| COSTCostco Wholesale Corp. | 0.63% | 1.32% | 0.69% |
| WMTWalmart, Inc. | 0.71% | 1.20% | 0.49% |
| TGTTarget Corp Common Stock Usd.0833 | 0.11% | 1.73% | 1.62% |
| DGDollar General Corp. | 0.04% | 1.59% | 1.55% |
| DLTRDollar Tree Inc. | 0.04% | 1.58% | 1.54% |
| ULTAUlta Beauty Inc. | 0.04% | 1.57% | 1.53% |
| TSCOTractor Supply Co. | 0.03% | 1.56% | 1.53% |
| CVNACarvana Co | 0.08% | 1.50% | 1.42% |
| BBYBest Buy Co. Inc. | 0.02% | 1.46% | 1.44% |
23.8% of XRT is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SPY or XRT?
SPY has an expense ratio of 0.09% while XRT charges 0.35%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, SPY or XRT?
Over the past year SPY returned +16.96% vs -4.10% for XRT, so SPY leads on 1-year performance. Over the longest common window we track (20 years), SPY annualized +9.84% vs +8.04% for XRT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XRT?
XRT has been the more volatile fund at 24.6% annualized versus 15.2% for SPY. Worst drawdown: SPY -56.5% vs XRT -66.2%.
Should I hold both SPY and XRT?
SPY and XRT have a monthly-return correlation of 0.74, 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 XRT?
23.8% of XRT's money is in holdings SPY also owns. 23.8% of XRT's is in holdings SPY also owns. They hold 17 positions in common, counted across the 504 positions we hold weights for in SPY and 76 in XRT.
Which pays a higher dividend, SPY or XRT?
SPY yields 0.98% while XRT yields 0.78%, so SPY currently pays the higher dividend yield.
Is XRT better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. XRT is less concentrated, with 18.2% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.