SPXE vs SPY
SPXE vs SPY
ProShares S&P 500 Ex-Energy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPXE has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPXE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $83M | $789.1B | |
| Dividend Yield | 0.93% | 1.01% | |
| Holdings | 483 | 505 | |
| YTD Return | +13.17% | +13.28% | |
| 1Y Return | +23.52% | +23.94% | |
| 3Y Return (annualized) | +21.32% | +21.07% | |
| 5Y Return (annualized) | +12.90% | +13.27% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -32.3% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 22, 2015 | Jan 22, 1993 |
SPXE vs SPY Performance
ProShares S&P 500 Ex-Energy ETF (SPXE) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPXE returned +23.52% while SPY returned +23.94%. Year to date, SPXE is up 13.17% versus a gain of 13.28% for SPY.
Over three years, SPXE compounded at +21.32% per year against +21.07% for SPY; over five years the annualized figures are +12.90% and +13.27% respectively. Across the full 11-year window we track, SPXE has the edge at +14.73% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPXE has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -32.3% for SPXE 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
SPXE charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, SPXE currently yields 0.93% against 1.01% for SPY.
Holdings Overlap
SPXE and SPY share 472 holdings out of 513 unique holdings combined, representing a 95.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPXE | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.52% | 7.31% | 0.21% |
| AAPL | 7.29% | 7.09% | 0.20% |
| MSFT | 4.56% | 4.43% | 0.13% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings SPXE 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, SPXE or SPY?
SPXE has an expense ratio of 0.09% while SPY charges 0.09%. SPXE is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPXE or SPY?
Over the past year SPXE returned +23.52% vs +23.94% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), SPXE annualized +14.73% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, SPXE or SPY?
SPXE has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: SPXE -32.3% vs SPY -56.5%.
Should I hold both SPXE and SPY?
SPXE 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 SPXE and SPY?
SPXE and SPY share 472 common holdings with a 95.1% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, SPXE or SPY?
SPXE yields 0.93% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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