SPY vs ZAP
State Street SPDR S&P 500 ETF Trust vs Global X US Electrification ETF
Which is better, SPY or ZAP?
Large Cap Blend against Large Cap Value.
SPY has a lower expense ratio. SPY led over 1Y, ZAP over the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 42.4%.
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 | ZAP |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.50% |
| AUM | $804.7B | $453M |
| Dividend Yield | 0.98% | 1.74% |
| Holdings | 505 | 47 |
| YTD Return | +12.47%Best | +8.38% |
| 1Y Return | +17.51%Best | +13.82% |
| 3Y Return (annualized) | +21.18% | - |
| 5Y Return (annualized) | +12.88% | - |
| Volatility (annualized) | 12.6%Best | 15.3% |
| Max Drawdown | -18.8% | -11.9%Best |
| $10,000 over 1.7 years | $13,238 | $13,701Best |
| Top 10 Weight | 38.0%Best | 42.4% |
| Fund Family | State Street Investment Management | Global X by mirae Asset |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Jan 22, 1993 | Dec 17, 2024 |
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Dec 18, 2024 to Sep 11, 2026 (1.7 years).
SPY vs ZAP 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 1.7 years both funds cover.
SPY vs ZAP Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Global X US Electrification ETF (ZAP) is an ETF from Global X by mirae Asset. Over the past year SPY returned +17.51% while ZAP returned +13.82%. Year to date, SPY is up 12.47% versus a gain of 8.38% for ZAP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ZAP has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% 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 -18.8% for SPY and -11.9% for ZAP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.42. They move together some of the time, and apart the rest.
Fees and Cost Over Time
SPY charges 0.09% per year while ZAP charges 0.50%. On a $10,000 position that is $9 vs $50 annually, a gap of $41 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 1.74% for ZAP.
Holdings Overlap
2.1% of SPY's money is in holdings ZAP also owns. 80.3% of ZAP's money is in holdings SPY also owns.
Most of ZAP is already inside SPY. Owning both mostly buys the same companies twice.
23 positions in common, counted across the 504 positions we hold weights for in SPY and 45 in ZAP, against full books of 505 and 47.
What only one of them owns
Our book lists 21 positions for ZAP that do not appear in our book for SPY (17.9% of the fund), and 471 for SPY that do not appear in ZAP (97.4%).
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 ZAP | Difference |
|---|---|---|---|
| PWRQuanta Services, Inc. | 0.16% | 4.68% | 4.52% |
| ETNEaton Corp. Plc | 0.26% | 4.45% | 4.19% |
| DDominion Energy Inc. | 0.09% | 4.53% | 4.44% |
| AMEAmetek Inc. | 0.09% | 4.37% | 4.28% |
| SOSouthern Co. | 0.16% | 4.01% | 3.85% |
| NEENextera Energy Inc. | 0.27% | 3.87% | 3.60% |
| DUKDuke Energy Corp. | 0.15% | 3.96% | 3.81% |
| EDConsolidated Edison Inc. | 0.06% | 4.01% | 3.95% |
| EXCExelon Corp. | 0.07% | 3.98% | 3.91% |
| AEPAmerican Electric Power Co. Inc. | 0.10% | 3.92% | 3.82% |
80.3% of ZAP 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 ZAP?
SPY has an expense ratio of 0.09% while ZAP charges 0.50%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, SPY or ZAP?
Over the past year SPY returned +17.51% vs +13.82% for ZAP, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +17.94% vs +20.35% for ZAP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or ZAP?
ZAP has been the more volatile fund at 15.3% annualized versus 12.6% for SPY. Worst drawdown: SPY -18.8% vs ZAP -11.9%.
Should I hold both SPY and ZAP?
SPY and ZAP have a monthly-return correlation of 0.42, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between SPY and ZAP?
80.3% of ZAP's money is in holdings SPY also owns. 80.3% of ZAP's is in holdings SPY also owns. They hold 23 positions in common, counted across the 504 positions we hold weights for in SPY and 45 in ZAP.
Which pays a higher dividend, SPY or ZAP?
SPY yields 0.98% while ZAP yields 1.74%, so ZAP currently pays the higher dividend yield.
Is ZAP better than SPY?
SPY has a lower expense ratio. SPY led over 1Y, ZAP over the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 42.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.