SPY vs ZJUL
State Street SPDR S&P 500 ETF Trust vs Innovator Equity Defined Protection ETF - 1 Yr July
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 | ZJUL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.79% | |
| AUM | $821.1B | $192M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 5 | |
| YTD Return | +12.71% | +4.00% | |
| 1Y Return | +20.53% | +6.06% | |
| 3Y Return (annualized) | +21.60% | - | |
| 5Y Return (annualized) | +12.79% | - | |
| Volatility (annualized) | 15.3% | 3.4% | |
| Max Drawdown | -56.5% | -5.5% | |
| Fund Family | State Street Investment Management | Innovator ETFs Trust | |
| Category | Equity | Alternative | |
| Inception | Jan 22, 1993 | Jul 1, 2024 |
SPY vs ZJUL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Innovator Equity Defined Protection ETF - 1 Yr July (ZJUL) is a ETF from Innovator ETFs Trust. Over the past year SPY returned +20.53% while ZJUL returned +6.06%. Year to date, SPY is up 12.71% versus a gain of 4.00% for ZJUL.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.4% for ZJUL. 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 -5.5% for ZJUL. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while ZJUL charges 0.79%. On a $10,000 position that is $9 vs $79 annually, a gap of $70 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for ZJUL.
Holdings Overlap
SPY and ZJUL share 0 holdings out of 505 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 ZJUL?
SPY has an expense ratio of 0.09% while ZJUL charges 0.79%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, SPY or ZJUL?
Over the past year SPY returned +20.53% vs +6.06% for ZJUL, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPY annualized +8.80% vs +7.28% for ZJUL. Past performance does not guarantee future results.
Which is riskier, SPY or ZJUL?
SPY has been the more volatile fund at 15.3% annualized versus 3.4% for ZJUL. Worst drawdown: SPY -56.5% vs ZJUL -5.5%.
Should I hold both SPY and ZJUL?
SPY and ZJUL have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and ZJUL?
SPY and ZJUL share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, SPY or ZJUL?
SPY yields 1.01% while ZJUL yields 0.00%, so SPY currently pays the higher dividend yield.
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