BGX vs SPY
BGX vs SPY
Blackstone Long-Short Credit Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BGX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.77% | 0.09% | |
| AUM | $155M | $789.1B | |
| Dividend Yield | 8.01% | 1.01% | |
| Holdings | 592 | 505 | |
| YTD Return | -3.45% | +9.93% | |
| 1Y Return | -7.08% | +19.50% | |
| 3Y Return (annualized) | +7.04% | +19.33% | |
| 5Y Return (annualized) | +2.83% | +12.82% | |
| Volatility (annualized) | 12.9% | 15.3% | |
| Max Drawdown | -58.0% | -56.5% | |
| Fund Family | The Blackstone Group Inc | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jan 27, 2011 | Jan 22, 1993 |
BGX vs SPY Performance
Blackstone Long-Short Credit Income Fund (BGX) is a ETF from The Blackstone Group Inc and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BGX returned -7.08% while SPY returned +19.50%. Year to date, BGX is down 3.45% versus a gain of 9.93% for SPY.
Over three years, BGX compounded at +7.04% per year against +19.33% for SPY; over five years the annualized figures are +2.83% and +12.82% respectively. Across the full 16-year window we track, SPY has the edge at +8.74% annualized vs -0.91%. 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 12.9% for BGX. 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 -58.0% for BGX and -56.5% for SPY. 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
BGX charges 2.77% per year while SPY charges 0.09%. On a $10,000 position that is $277 vs $9 annually, a gap of $268 per year that compounds over a long holding period. On income, BGX currently yields 8.01% against 1.01% for SPY.
Holdings Overlap
BGX and SPY share 0 holdings out of 827 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, BGX or SPY?
BGX has an expense ratio of 2.77% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $268 per year of difference.
Which performed better, BGX or SPY?
Over the past year BGX returned -7.08% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), BGX annualized -0.91% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, BGX or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.9% for BGX. Worst drawdown: BGX -58.0% vs SPY -56.5%.
Should I hold both BGX and SPY?
BGX and SPY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BGX and SPY?
BGX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 827 unique securities.
Which pays a higher dividend, BGX or SPY?
BGX yields 8.01% while SPY yields 1.01%, so BGX currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.