SPY vs XSOE
State Street SPDR S&P 500 ETF Trust vs WisdomTree Emerging Markets Ex-State Owned Enterprises Fund
Quick Verdict
SPY has a lower expense ratio. XSOE delivered stronger 1-year returns. XSOE offers more diversification with 733 holdings.
Side-by-Side Comparison
| Metric | SPY | XSOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.33% | |
| AUM | $789.1B | $2.0B | |
| Dividend Yield | 1.01% | 1.08% | |
| Holdings | 505 | 827 | |
| YTD Return | +13.68% | +19.28% | |
| 1Y Return | +21.53% | +35.85% | |
| 3Y Return (annualized) | +21.44% | +20.90% | |
| 5Y Return (annualized) | +13.18% | +5.67% | |
| Volatility (annualized) | 15.3% | 18.4% | |
| Max Drawdown | -56.5% | -45.2% | |
| Fund Family | State Street Investment Management | WisdomTree Investments | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Dec 10, 2014 |
SPY vs XSOE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and WisdomTree Emerging Markets Ex-State Owned Enterprises Fund (XSOE) is a ETF from WisdomTree Investments. Over the past year SPY returned +21.53% while XSOE returned +35.85%. Year to date, SPY is up 13.68% versus a gain of 19.28% for XSOE.
Over three years, SPY compounded at +21.44% per year against +20.90% for XSOE; over five years the annualized figures are +13.18% and +5.67% respectively. Across the full 12-year window we track, SPY has the edge at +8.85% annualized vs +6.64%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XSOE has been the more volatile fund, with annualized monthly volatility of 18.4% 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 -45.2% for XSOE. 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 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XSOE charges 0.33%. On a $10,000 position that is $9 vs $33 annually, a gap of $24 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.08% for XSOE.
Holdings Overlap
SPY and XSOE share 0 holdings out of 1236 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or XSOE?
SPY has an expense ratio of 0.09% while XSOE charges 0.33%. SPY is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, SPY or XSOE?
Over the past year SPY returned +21.53% vs +35.85% for XSOE, so XSOE leads on 1-year performance. Over the longest common window we track (12 years), SPY annualized +8.85% vs +6.64% for XSOE. Past performance does not guarantee future results.
Which is riskier, SPY or XSOE?
XSOE has been the more volatile fund at 18.4% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XSOE -45.2%.
Should I hold both SPY and XSOE?
SPY and XSOE have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XSOE?
SPY and XSOE share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1236 unique securities.
Which pays a higher dividend, SPY or XSOE?
SPY yields 1.01% while XSOE yields 1.08%, so XSOE currently pays the higher dividend yield.
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