SPY vs USCL
SPY vs USCL
State Street SPDR S&P 500 ETF Trust vs iShares Climate Conscious & Transition MSCI USA ETF
Quick Verdict
USCL has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | USCL | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.08% | |
| AUM | $789.1B | $2.8B | |
| Dividend Yield | 1.01% | 1.11% | |
| Holdings | 505 | 410 | |
| YTD Return | +13.28% | +10.09% | |
| 1Y Return | +23.94% | +17.17% | |
| 3Y Return (annualized) | +21.07% | +19.34% | |
| 5Y Return (annualized) | +13.27% | - | |
| Volatility (annualized) | 15.3% | 12.9% | |
| Max Drawdown | -56.5% | -19.0% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 6, 2023 |
SPY vs USCL Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares Climate Conscious & Transition MSCI USA ETF (USCL) is a ETF from iShares by BlackRock (US). Over the past year SPY returned +23.94% while USCL returned +17.17%. Year to date, SPY is up 13.28% versus a gain of 10.09% for USCL.
Over three years, SPY compounded at +21.07% per year against +19.34% for USCL. Across the full 3-year window we track, USCL has the edge at +20.38% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.9% for USCL. 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 -56.5% for SPY and -19.0% for USCL. 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
SPY charges 0.09% per year while USCL charges 0.08%. On a $10,000 position that is $9 vs $8 annually, a gap of $1 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.11% for USCL.
Holdings Overlap
SPY and USCL share 364 holdings out of 545 unique holdings combined, representing a 83.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPY | Weight in USCL | Difference |
|---|---|---|---|
| NVDA | 7.31% | 8.55% | 1.24% |
| AAPL | 7.09% | 8.69% | 1.60% |
| MSFT | 4.43% | 5.17% | 0.74% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings SPY shares with USCL 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, SPY or USCL?
SPY has an expense ratio of 0.09% while USCL charges 0.08%. USCL is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, SPY or USCL?
Over the past year SPY returned +23.94% vs +17.17% for USCL, so SPY leads on 1-year performance. Over the longest common window we track (3 years), SPY annualized +8.84% vs +20.38% for USCL. Past performance does not guarantee future results.
Which is riskier, SPY or USCL?
SPY has been the more volatile fund at 15.3% annualized versus 12.9% for USCL. Worst drawdown: SPY -56.5% vs USCL -19.0%.
Should I hold both SPY and USCL?
SPY and USCL 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 SPY and USCL?
SPY and USCL share 364 common holdings with a 83.6% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, SPY or USCL?
SPY yields 1.01% while USCL yields 1.11%, so USCL currently pays the higher dividend yield.
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