FEAC vs SPY
FEAC vs SPY
Fidelity Enhanced US All-Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FEAC delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FEAC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $26M | $789.1B | |
| Dividend Yield | 0.77% | 1.01% | |
| Holdings | 454 | 505 | |
| YTD Return | +16.16% | +13.79% | |
| 1Y Return | +27.54% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 13.0% | 15.3% | |
| Max Drawdown | -19.0% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 19, 2024 | Jan 22, 1993 |
FEAC vs SPY Performance
Fidelity Enhanced US All-Cap Equity ETF (FEAC) 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 FEAC returned +27.54% while SPY returned +23.66%. Year to date, FEAC is up 16.16% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.0% for FEAC. 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 -19.0% for FEAC 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FEAC charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FEAC currently yields 0.77% against 1.01% for SPY.
Holdings Overlap
FEAC and SPY share 129 holdings out of 775 unique holdings combined, representing a 49.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FEAC | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.05% | 7.31% | 0.26% |
| AAPL | 5.17% | 7.09% | 1.92% |
| MSFT | 3.66% | 4.43% | 0.77% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings FEAC 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, FEAC or SPY?
FEAC has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, FEAC or SPY?
Over the past year FEAC returned +27.54% vs +23.66% for SPY, so FEAC leads on 1-year performance. Over the longest common window we track (2 years), FEAC annualized +19.18% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FEAC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.0% for FEAC. Worst drawdown: FEAC -19.0% vs SPY -56.5%.
Should I hold both FEAC and SPY?
FEAC and SPY have a monthly-return correlation of 0.99, 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 FEAC and SPY?
FEAC and SPY share 129 common holdings with a 49.9% weight overlap. Combined, they hold 775 unique securities.
Which pays a higher dividend, FEAC or SPY?
FEAC yields 0.77% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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