FBUF vs SPY
FBUF vs SPY
Fidelity Dynamic Buffered Equity 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 | FBUF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.48% | 0.09% | |
| AUM | $21M | $789.1B | |
| Dividend Yield | 0.59% | 1.01% | |
| Holdings | 175 | 505 | |
| YTD Return | +7.98% | +13.28% | |
| 1Y Return | +17.81% | +23.94% | |
| 3Y Return (annualized) | - | +21.07% | |
| 5Y Return (annualized) | - | +13.27% | |
| Volatility (annualized) | 6.9% | 15.3% | |
| Max Drawdown | -11.1% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 9, 2024 | Jan 22, 1993 |
FBUF vs SPY Performance
Fidelity Dynamic Buffered Equity ETF (FBUF) is a ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FBUF returned +17.81% while SPY returned +23.94%. Year to date, FBUF is up 7.98% versus a gain of 13.28% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.9% for FBUF. 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 -11.1% for FBUF 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FBUF charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, FBUF currently yields 0.59% against 1.01% for SPY.
Holdings Overlap
FBUF and SPY share 106 holdings out of 564 unique holdings combined, representing a 61.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in FBUF | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.81% | 7.31% | 0.50% |
| AAPL | 6.93% | 7.09% | 0.16% |
| MSFT | 4.03% | 4.43% | 0.40% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
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Frequently Asked Questions
Which is cheaper, FBUF or SPY?
FBUF has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $39 per year of difference.
Which performed better, FBUF or SPY?
Over the past year FBUF returned +17.81% vs +23.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), FBUF annualized +13.80% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, FBUF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.9% for FBUF. Worst drawdown: FBUF -11.1% vs SPY -56.5%.
Should I hold both FBUF and SPY?
FBUF and SPY have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FBUF and SPY?
FBUF and SPY share 106 common holdings with a 61.3% weight overlap. Combined, they hold 564 unique securities.
Which pays a higher dividend, FBUF or SPY?
FBUF yields 0.59% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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