SPY vs XSVM
State Street SPDR S&P 500 ETF Trust vs Invesco S&P SmallCap Value with Momentum ETF
Quick Verdict
SPY has a lower expense ratio. XSVM delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | XSVM | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.37% | |
| AUM | $821.1B | $671M | |
| Dividend Yield | 1.01% | 1.74% | |
| Holdings | 505 | 122 | |
| YTD Return | +13.17% | +23.33% | |
| 1Y Return | +21.53% | +29.52% | |
| 3Y Return (annualized) | +22.06% | +15.34% | |
| 5Y Return (annualized) | +13.35% | +9.75% | |
| Volatility (annualized) | 15.3% | 21.8% | |
| Max Drawdown | -56.5% | -64.1% | |
| Fund Family | State Street Investment Management | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Mar 3, 2005 |
SPY vs XSVM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Invesco S&P SmallCap Value with Momentum ETF (XSVM) is a ETF from Invesco (US). Over the past year SPY returned +21.53% while XSVM returned +29.52%. Year to date, SPY is up 13.17% versus a gain of 23.33% for XSVM.
Over three years, SPY compounded at +22.06% per year against +15.34% for XSVM; over five years the annualized figures are +13.35% and +9.75% respectively. Across the full 22-year window we track, SPY has the edge at +8.82% annualized vs +7.90%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XSVM has been the more volatile fund, with annualized monthly volatility of 21.8% 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 -64.1% for XSVM. 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while XSVM charges 0.37%. On a $10,000 position that is $9 vs $37 annually, a gap of $28 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.74% for XSVM.
Holdings Overlap
SPY and XSVM share 0 holdings out of 624 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 XSVM?
SPY has an expense ratio of 0.09% while XSVM charges 0.37%. SPY is the cheaper option. On a $10,000 investment, that is $28 per year of difference.
Which performed better, SPY or XSVM?
Over the past year SPY returned +21.53% vs +29.52% for XSVM, so XSVM leads on 1-year performance. Over the longest common window we track (22 years), SPY annualized +8.82% vs +7.90% for XSVM. Past performance does not guarantee future results.
Which is riskier, SPY or XSVM?
XSVM has been the more volatile fund at 21.8% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs XSVM -64.1%.
Should I hold both SPY and XSVM?
SPY and XSVM have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and XSVM?
SPY and XSVM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 624 unique securities.
Which pays a higher dividend, SPY or XSVM?
SPY yields 1.01% while XSVM yields 1.74%, so XSVM currently pays the higher dividend yield.
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