SPY vs YLDE
State Street SPDR S&P 500 ETF Trust vs Franklin ClearBridge Enhanced Income ETF
Which is better, SPY or YLDE?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. YLDE is less concentrated, with 32.4% 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 | YLDE |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.48% |
| AUM | $804.7B | $174M |
| Dividend Yield | 0.98% | 7.02% |
| Holdings | 505 | 58 |
| YTD Return | +11.52%Best | +7.89% |
| 1Y Return | +17.48%Best | +10.58% |
| 3Y Return (annualized) | +20.62%Best | +15.73% |
| 5Y Return (annualized) | +12.73%Best | +10.47% |
| Volatility (annualized) | 15.9% | 14.8%Best |
| Max Drawdown | -34.1% | -33.3%Best |
| $10,000 over 5 years | $18,205Best | $16,452 |
| Top 10 Weight | 38.0% | 32.4%Best |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | May 22, 2017 |
Volatility and max drawdown are measured over the window both funds cover: May 23, 2017 to Sep 10, 2026 (9.3 years).
SPY vs YLDE 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 9.3 years both funds cover.
SPY vs YLDE Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Franklin ClearBridge Enhanced Income ETF (YLDE) is an ETF from Franklin Templeton Investments (US). Over the past year SPY returned +17.48% while YLDE returned +10.58%. Year to date, SPY is up 11.52% versus a gain of 7.89% for YLDE.
Over three years, SPY compounded at +20.62% per year against +15.73% for YLDE; over five years the annualized figures are +12.73% and +10.47% respectively. Across the full 9-year window we track, SPY has the edge at +14.06% annualized vs +11.24%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.9% 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 -34.1% for SPY and -33.3% for YLDE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.98% against 7.02% for YLDE.
Holdings Overlap
38.0% of SPY's money is in holdings YLDE also owns. 86.1% of YLDE's money is in holdings SPY also owns.
Most of YLDE is already inside SPY. Owning both mostly buys the same companies twice.
41 positions in common, counted across the 504 positions we hold weights for in SPY and 50 in YLDE, against full books of 505 and 58.
What only one of them owns
Our book lists 4 positions for YLDE that do not appear in our book for SPY (6.8% of the fund), and 453 for SPY that do not appear in YLDE (61.5%).
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 YLDE | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.71% | 3.04% | 4.67% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 3.33% | 2.17% |
| AAPLApple, Inc | 6.83% | 1.93% | 4.90% |
| GOOGLAlphabet A Usd 0.001 | 3.33% | 3.60% | 0.27% |
| AVGOBroadcom Inc | 2.97% | 2.36% | 0.61% |
| XOMExxon Mobil Corp. | 0.96% | 4.31% | 3.35% |
| WMBWilliams Cos. Inc. | 0.13% | 4.21% | 4.08% |
| JPMJpmorgan Chase & Co. | 1.44% | 2.59% | 1.15% |
| METAMeta Platforms, Inc. | 1.94% | 1.61% | 0.33% |
| APOApollo Global Management Inc | 0.09% | 2.95% | 2.86% |
86.1% of YLDE 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 YLDE?
SPY has an expense ratio of 0.09% while YLDE charges 0.48%. SPY is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, SPY or YLDE?
Over the past year SPY returned +17.48% vs +10.58% for YLDE, so SPY leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +14.06% vs +11.24% for YLDE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or YLDE?
SPY has been the more volatile fund at 15.9% annualized versus 14.8% for YLDE. Worst drawdown: SPY -34.1% 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. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SPY and YLDE?
86.1% of YLDE's money is in holdings SPY also owns. 86.1% of YLDE's is in holdings SPY also owns. They hold 41 positions in common, counted across the 504 positions we hold weights for in SPY and 50 in YLDE.
Which pays a higher dividend, SPY or YLDE?
SPY yields 0.98% while YLDE yields 7.02%, so YLDE currently pays the higher dividend yield.
Is YLDE better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. YLDE is less concentrated, with 32.4% 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.