EXG vs SPY
EXG vs SPY
Eaton Vance Tax-Managed Global Diversified Equity Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EXG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EXG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.07% | 0.09% | |
| AUM | $2.5B | $789.1B | |
| Dividend Yield | 7.47% | 1.01% | |
| Holdings | 115 | 505 | |
| YTD Return | +9.85% | +13.28% | |
| 1Y Return | +24.11% | +23.94% | |
| 3Y Return (annualized) | +17.77% | +21.07% | |
| 5Y Return (annualized) | +8.43% | +13.27% | |
| Volatility (annualized) | 18.7% | 15.3% | |
| Max Drawdown | -76.1% | -56.5% | |
| Fund Family | Eaton Vance | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 27, 2007 | Jan 22, 1993 |
EXG vs SPY Performance
Eaton Vance Tax-Managed Global Diversified Equity Income Fund (EXG) is a ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EXG returned +24.11% while SPY returned +23.94%. Year to date, EXG is up 9.85% versus a gain of 13.28% for SPY.
Over three years, EXG compounded at +17.77% per year against +21.07% for SPY; over five years the annualized figures are +8.43% and +13.27% respectively. Across the full 19-year window we track, SPY has the edge at +8.84% annualized vs -1.11%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EXG has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 15.3% 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 -76.1% for EXG 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EXG charges 1.07% per year while SPY charges 0.09%. On a $10,000 position that is $107 vs $9 annually, a gap of $98 per year that compounds over a long holding period. On income, EXG currently yields 7.47% against 1.01% for SPY.
Holdings Overlap
EXG and SPY share 40 holdings out of 557 unique holdings combined, representing a 25.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in EXG | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 3.68% | 7.31% | 3.63% |
| AAPL | 3.02% | 7.09% | 4.07% |
| MSFT | 3.73% | 4.43% | 0.70% |
| GOOG | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| V | Pro | Pro | Pro |
See all 10 holdings EXG 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, EXG or SPY?
EXG has an expense ratio of 1.07% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $98 per year of difference.
Which performed better, EXG or SPY?
Over the past year EXG returned +24.11% vs +23.94% for SPY, so EXG leads on 1-year performance. Over the longest common window we track (19 years), EXG annualized -1.11% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, EXG or SPY?
EXG has been the more volatile fund at 18.7% annualized versus 15.3% for SPY. Worst drawdown: EXG -76.1% vs SPY -56.5%.
Should I hold both EXG and SPY?
EXG and SPY have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EXG and SPY?
EXG and SPY share 40 common holdings with a 25.9% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, EXG or SPY?
EXG yields 7.47% while SPY yields 1.01%, so EXG currently pays the higher dividend yield.
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