DCRE vs SPY
DCRE vs SPY
DoubleLine Commercial Real Estate Debt ETF 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 | DCRE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.09% | |
| AUM | $458M | $789.1B | |
| Dividend Yield | 4.74% | 1.01% | |
| Holdings | 259 | 505 | |
| YTD Return | +1.56% | +13.79% | |
| 1Y Return | +3.68% | +23.66% | |
| 3Y Return (annualized) | +5.84% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 1.4% | 15.3% | |
| Max Drawdown | -0.8% | -56.5% | |
| Fund Family | DoubleLine Funds | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 31, 2023 | Jan 22, 1993 |
DCRE vs SPY Performance
DoubleLine Commercial Real Estate Debt ETF (DCRE) is a ETF from DoubleLine Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DCRE returned +3.68% while SPY returned +23.66%. Year to date, DCRE is up 1.56% versus a gain of 13.79% for SPY.
Over three years, DCRE compounded at +5.84% per year against +21.40% for SPY. Across the full 3-year window we track, SPY has the edge at +8.85% annualized vs +5.87%. 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 1.4% for DCRE. 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 -0.8% for DCRE 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 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DCRE charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, DCRE currently yields 4.74% against 1.01% for SPY.
Holdings Overlap
DCRE and SPY share 0 holdings out of 584 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, DCRE or SPY?
DCRE has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, DCRE or SPY?
Over the past year DCRE returned +3.68% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), DCRE annualized +5.87% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DCRE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 1.4% for DCRE. Worst drawdown: DCRE -0.8% vs SPY -56.5%.
Should I hold both DCRE and SPY?
DCRE and SPY have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DCRE and SPY?
DCRE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 584 unique securities.
Which pays a higher dividend, DCRE or SPY?
DCRE yields 4.74% while SPY yields 1.01%, so DCRE currently pays the higher dividend yield.
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