SHE vs SPY
SHE vs SPY
State Street SPDR MSCI USA Gender Diversity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SHE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SHE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $322M | $789.1B | |
| Dividend Yield | 1.03% | 1.01% | |
| Holdings | 215 | 505 | |
| YTD Return | +20.53% | +13.50% | |
| 1Y Return | +29.12% | +23.56% | |
| 3Y Return (annualized) | +22.49% | +21.17% | |
| 5Y Return (annualized) | +10.37% | +13.46% | |
| Volatility (annualized) | 16.4% | 15.3% | |
| Max Drawdown | -36.2% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 7, 2016 | Jan 22, 1993 |
SHE vs SPY Performance
State Street SPDR MSCI USA Gender Diversity ETF (SHE) 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 SHE returned +29.12% while SPY returned +23.56%. Year to date, SHE is up 20.53% versus a gain of 13.50% for SPY.
Over three years, SHE compounded at +22.49% per year against +21.17% for SPY; over five years the annualized figures are +10.37% and +13.46% respectively. Across the full 10-year window we track, SHE has the edge at +10.67% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SHE has been the more volatile fund, with annualized monthly volatility of 16.4% 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 -36.2% for SHE 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SHE charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, SHE currently yields 1.03% against 1.01% for SPY.
Holdings Overlap
SHE and SPY share 210 holdings out of 525 unique holdings combined, representing a 42.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SHE | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 3.92% | 7.31% | 3.39% |
| MSFT | 4.10% | 4.43% | 0.33% |
| AMD | 5.78% | 1.39% | 4.39% |
| AVGO | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
| INTC | Pro | Pro | Pro |
| NFLX | Pro | Pro | Pro |
| VZ | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
See all 10 holdings SHE 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, SHE or SPY?
SHE has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, SHE or SPY?
Over the past year SHE returned +29.12% vs +23.56% for SPY, so SHE leads on 1-year performance. Over the longest common window we track (10 years), SHE annualized +10.67% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SHE or SPY?
SHE has been the more volatile fund at 16.4% annualized versus 15.3% for SPY. Worst drawdown: SHE -36.2% vs SPY -56.5%.
Should I hold both SHE and SPY?
SHE and SPY have a monthly-return correlation of 0.95, 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 SHE and SPY?
SHE and SPY share 210 common holdings with a 42.7% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, SHE or SPY?
SHE yields 1.03% while SPY yields 1.01%, so SHE currently pays the higher dividend yield.
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