SPY vs XSOE
State Street SPDR S&P 500 ETF Trust vs WisdomTree Emerging Markets Ex-State Owned Enterprises Fund
Which is better, SPY or XSOE?
Each has led over a different period.
SPY has a lower expense ratio. SPY led over 5Y and the full window, XSOE over 1Y and 3Y. XSOE is less concentrated, with 34.2% of the fund in its ten largest positions against 38.0%.
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 | XSOE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.32% |
| AUM | $814.4B | $2.1B |
| Dividend Yield | 1.01% | 1.14% |
| Holdings | 505 | 827 |
| YTD Return | +12.71% | +22.18%Best |
| 1Y Return | +19.36% | +36.01%Best |
| 3Y Return (annualized) | +21.09% | +22.22%Best |
| 5Y Return (annualized) | +12.69%Best | +5.93% |
| Volatility (annualized) | 15.0%Best | 18.4% |
| Max Drawdown | -34.1%Best | -45.2% |
| $10,000 over 5 years | $18,173Best | $13,338 |
| Top 10 Weight | 38.0% | 34.2%Best |
| Fund Family | State Street Investment Management | WisdomTree Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Dec 10, 2014 |
Volatility and max drawdown are measured over the window both funds cover: Dec 10, 2014 to Sep 8, 2026 (11.7 years).
SPY vs XSOE 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 11.7 years both funds cover.
SPY vs XSOE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and WisdomTree Emerging Markets Ex-State Owned Enterprises Fund (XSOE) is an ETF from WisdomTree Investments. Over the past year SPY returned +19.36% while XSOE returned +36.01%. Year to date, SPY is up 12.71% versus a gain of 22.18% for XSOE.
Over three years, SPY compounded at +21.09% per year against +22.22% for XSOE; over five years the annualized figures are +12.69% and +5.93% respectively. Across the full 12-year window we track, SPY has the edge at +12.67% annualized vs +6.81%.
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 15.0% 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 -34.1% for SPY and -45.2% for XSOE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while XSOE charges 0.32%. On a $10,000 position that is $9 vs $32 annually, a gap of $23 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.14% for XSOE.
Holdings Overlap
0.1% of SPY's money is in holdings XSOE also owns. 0.1% of XSOE's money is in holdings SPY also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 503 positions we hold weights for in SPY and 819 in XSOE, against full books of 505 and 827.
What only one of them owns
Our book lists 17 positions for XSOE that do not appear in our book for SPY (2.5% of the fund), and 492 for SPY that do not appear in XSOE (99.3%).
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 XSOE | Difference |
|---|---|---|---|
| TELTyco Electronics Ltd. | 0.10% | 0.11% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of SPY and XSOE 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 XSOE?
SPY has an expense ratio of 0.09% while XSOE charges 0.32%. SPY is the cheaper option, by $23 a year on a $10,000 investment.
Which performed better, SPY or XSOE?
Over the past year SPY returned +19.36% vs +36.01% for XSOE, so XSOE leads on 1-year performance. Over the longest common window we track (12 years), SPY annualized +12.67% vs +6.81% for XSOE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or XSOE?
XSOE has been the more volatile fund at 18.4% annualized versus 15.0% for SPY. Worst drawdown: SPY -34.1% vs XSOE -45.2%.
Should I hold both SPY and XSOE?
SPY and XSOE have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or XSOE?
SPY yields 1.01% while XSOE yields 1.14%, so XSOE currently pays the higher dividend yield.
Is XSOE better than SPY?
SPY has a lower expense ratio. SPY led over 5Y and the full window, XSOE over 1Y and 3Y. XSOE is less concentrated, with 34.2% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.