NZUS vs SPY
NZUS vs SPY
State Street SPDR MSCI USA Climate Paris Aligned 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 | NZUS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.10% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 0.88% | 1.01% | |
| Holdings | 146 | 505 | |
| YTD Return | +5.91% | +13.79% | |
| 1Y Return | +23.21% | +23.66% | |
| 3Y Return (annualized) | +20.81% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -21.0% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 21, 2022 | Jan 22, 1993 |
NZUS vs SPY Performance
State Street SPDR MSCI USA Climate Paris Aligned ETF (NZUS) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NZUS returned +23.21% while SPY returned +23.66%. Year to date, NZUS is up 5.91% versus a gain of 13.79% for SPY.
Over three years, NZUS compounded at +20.81% per year against +21.40% for SPY. Across the full 4-year window we track, NZUS has the edge at +14.42% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NZUS has been the more volatile fund, with annualized monthly volatility of 16.8% 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 -21.0% for NZUS 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NZUS charges 0.10% per year while SPY charges 0.09%. On a $10,000 position that is $10 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, NZUS currently yields 0.88% against 1.01% for SPY.
Holdings Overlap
NZUS and SPY share 123 holdings out of 530 unique holdings combined, representing a 52.9% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in NZUS | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 9.68% | 7.31% | 2.37% |
| AAPL | 7.37% | 7.09% | 0.28% |
| MSFT | 6.81% | 4.43% | 2.38% |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
See all 10 holdings NZUS 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, NZUS or SPY?
NZUS has an expense ratio of 0.10% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, NZUS or SPY?
Over the past year NZUS returned +23.21% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), NZUS annualized +14.42% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NZUS or SPY?
NZUS has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: NZUS -21.0% vs SPY -56.5%.
Should I hold both NZUS and SPY?
NZUS and SPY have a monthly-return correlation of 0.98, 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 NZUS and SPY?
NZUS and SPY share 123 common holdings with a 52.9% weight overlap. Combined, they hold 530 unique securities.
Which pays a higher dividend, NZUS or SPY?
NZUS yields 0.88% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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