SPY vs XXSP
State Street SPDR S&P 500 ETF Trust vs Subversive S&P 500 Redacted ETF
Which is better, SPY or XXSP?
Large Cap Blend against Large Cap Growth.
SPY has a lower expense ratio. XXSP is less concentrated, with 37.7% of the fund in its ten largest positions against 38.9%.
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 | XXSP |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.30% |
| AUM | $777.9B | $2M |
| Dividend Yield | 1.00% | 0.00% |
| Holdings | 1,011 | 496 |
| YTD Return | +11.04%Best | -3.41% |
| 1Y Return | +11.65% | - |
| 3Y Return (annualized) | +21.01% | - |
| 5Y Return (annualized) | +11.48% | - |
| Top 10 Weight | 38.9% | 37.7%Best |
| Fund Family | State Street Investment Management | Subversive Capital |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | Oct 8, 2026 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
SPY vs XXSP 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs XXSP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Subversive S&P 500 Redacted ETF (XXSP) is an ETF from Subversive Capital. Year to date, SPY is up 11.04% versus a loss of 3.41% for XXSP.
Past performance does not guarantee future results.
Fees and Cost Over Time
SPY charges 0.09% per year while XXSP charges 0.30%. On a $10,000 position that is $9 vs $30 annually, a gap of $21 per year that compounds over a long holding period. On income, SPY currently yields 1.00% against 0.00% for XXSP.
Holdings Overlap
97.5% of SPY's money is in holdings XXSP also owns. 98.7% of XXSP's money is in holdings SPY also owns.
Most of XXSP is already inside SPY. Owning both mostly buys the same companies twice.
490 positions in common, counted across the 504 positions we hold weights for in SPY and 496 in XXSP, against full books of 1,011 and 496.
What only one of them owns
Our book lists 4 positions for XXSP that do not appear in our book for SPY (0.5% of the fund), and 10 for SPY that do not appear in XXSP (2.2%).
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 XXSP | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.05% | 7.93% | 0.12% |
| AAPLApple Inc | 7.53% | 7.71% | 0.18% |
| MSFTMicrosoft Corp | 5.96% | 6.02% | 0.06% |
| AMZNAmazon.Com Inc | 3.75% | 3.62% | 0.13% |
| GOOGLAlphabet Inc | 3.07% | 2.54% | 0.53% |
| AVGOBroadcom Inc | 2.48% | 2.51% | 0.03% |
| METAMeta Platforms Inc | 2.45% | 2.14% | 0.31% |
| GOOGAlphabet Inc. C | 2.46% | 2.05% | 0.41% |
| MUMicron Technology, Inc. | 1.55% | 1.55% | 0.00% |
| LLYEli Lilly & Co | 1.45% | 1.61% | 0.16% |
98.7% of XXSP 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 XXSP?
SPY has an expense ratio of 0.09% while XXSP charges 0.30%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
What is the holdings overlap between SPY and XXSP?
98.7% of XXSP's money is in holdings SPY also owns. 98.7% of XXSP's is in holdings SPY also owns. They hold 490 positions in common, counted across the 504 positions we hold weights for in SPY and 496 in XXSP.
Which pays a higher dividend, SPY or XXSP?
SPY yields 1.00% while XXSP yields 0.00%, so SPY currently pays the higher dividend yield.
Is XXSP better than SPY?
SPY has a lower expense ratio. XXSP is less concentrated, with 37.7% of the fund in its ten largest positions against 38.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.