DVAL vs SPY
DVAL vs SPY
BrandywineGLOBAL-Dynamic US Large Cap Value 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 | DVAL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.09% | |
| AUM | $71M | $789.1B | |
| Dividend Yield | 1.83% | 1.01% | |
| Holdings | 115 | 505 | |
| YTD Return | +15.01% | +13.79% | |
| 1Y Return | +20.24% | +23.66% | |
| 3Y Return (annualized) | +14.32% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 12.7% | 15.3% | |
| Max Drawdown | -15.9% | -56.5% | |
| Fund Family | Franklin Templeton Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 27, 2006 | Jan 22, 1993 |
DVAL vs SPY Performance
BrandywineGLOBAL-Dynamic US Large Cap Value ETF (DVAL) is a ETF from Franklin Templeton Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DVAL returned +20.24% while SPY returned +23.66%. Year to date, DVAL is up 15.01% versus a gain of 13.79% for SPY.
Over three years, DVAL compounded at +14.32% per year against +21.40% for SPY. Across the full 4-year window we track, DVAL has the edge at +13.51% annualized vs +8.85%. 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 12.7% for DVAL. 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 -15.9% for DVAL 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DVAL charges 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, DVAL currently yields 1.83% against 1.01% for SPY.
Holdings Overlap
DVAL and SPY share 71 holdings out of 545 unique holdings combined, representing a 15.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in DVAL | Weight in SPY | Difference |
|---|---|---|---|
| JPM:US | 4.39% | 1.40% | 2.99% |
| GE | 4.75% | 0.61% | 4.14% |
| CSCO | 4.52% | 0.69% | 3.83% |
| BAC | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| WFC | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| LMT | Pro | Pro | Pro |
| UPS | Pro | Pro | Pro |
See all 10 holdings DVAL shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, DVAL or SPY?
DVAL has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $40 per year of difference.
Which performed better, DVAL or SPY?
Over the past year DVAL returned +20.24% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), DVAL annualized +13.51% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DVAL or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.7% for DVAL. Worst drawdown: DVAL -15.9% vs SPY -56.5%.
Should I hold both DVAL and SPY?
DVAL and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DVAL and SPY?
DVAL and SPY share 71 common holdings with a 15.5% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, DVAL or SPY?
DVAL yields 1.83% while SPY yields 1.01%, so DVAL currently pays the higher dividend yield.
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