SPY vs YLDE
State Street SPDR S&P 500 ETF Trust vs Franklin ClearBridge Enhanced Income ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | SPY | YLDE | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.48% | |
| AUM | $821.1B | $173M | |
| Dividend Yield | 1.01% | 6.39% | |
| Holdings | 505 | 58 | |
| YTD Return | +12.68% | +10.81% | |
| 1Y Return | +21.82% | +16.13% | |
| 3Y Return (annualized) | +21.98% | +17.10% | |
| 5Y Return (annualized) | +12.89% | +10.94% | |
| Volatility (annualized) | 15.3% | 14.8% | |
| Max Drawdown | -56.5% | -33.3% | |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | May 22, 2017 |
SPY vs YLDE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Franklin ClearBridge Enhanced Income ETF (YLDE) is a ETF from Franklin Templeton Investments (US). Over the past year SPY returned +21.82% while YLDE returned +16.13%. Year to date, SPY is up 12.68% versus a gain of 10.81% for YLDE.
Over three years, SPY compounded at +21.98% per year against +17.10% for YLDE; over five years the annualized figures are +12.89% and +10.94% respectively. Across the full 9-year window we track, YLDE has the edge at +11.63% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.8% for YLDE. 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 -33.3% for YLDE. 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPY charges 0.09% per year while YLDE charges 0.48%. On a $10,000 position that is $9 vs $48 annually, a gap of $39 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.39% for YLDE.
Holdings Overlap
SPY and YLDE share 42 holdings out of 513 unique holdings combined, representing a 24.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or YLDE?
SPY has an expense ratio of 0.09% while YLDE charges 0.48%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, SPY or YLDE?
Over the past year SPY returned +21.82% vs +16.13% for YLDE, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +8.81% vs +11.63% for YLDE. Past performance does not guarantee future results.
Which is riskier, SPY or YLDE?
SPY has been the more volatile fund at 15.3% annualized versus 14.8% for YLDE. Worst drawdown: SPY -56.5% vs YLDE -33.3%.
Should I hold both SPY and YLDE?
SPY and YLDE have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and YLDE?
SPY and YLDE share 42 common holdings with a 24.2% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, SPY or YLDE?
SPY yields 1.01% while YLDE yields 6.39%, so YLDE currently pays the higher dividend yield.
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