SPY vs USEW
SPY vs USEW
State Street SPDR S&P 500 ETF Trust vs Cambria US EW ETF
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | USEW | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.30% | |
| AUM | $789.1B | $189M | |
| Dividend Yield | 1.01% | 0.55% | |
| Holdings | 505 | 426 | |
| YTD Return | +13.28% | +12.01% | |
| 1Y Return | +23.94% | - | |
| 3Y Return (annualized) | +21.07% | - | |
| 5Y Return (annualized) | +13.27% | - | |
| Volatility (annualized) | 15.3% | - | |
| Max Drawdown | -56.5% | -8.3% | |
| Fund Family | State Street Investment Management | Cambria Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Dec 18, 2025 |
SPY vs USEW Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Cambria US EW ETF (USEW) is a ETF from Cambria Investment Management. Year to date, SPY is up 13.28% versus a gain of 12.01% for USEW.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -56.5% for SPY and -8.3% for USEW. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
SPY charges 0.09% per year while USEW charges 0.30%. On a $10,000 position that is $9 vs $30 annually, a gap of $21 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.55% for USEW.
Holdings Overlap
SPY and USEW share 347 holdings out of 584 unique holdings combined, representing a 47.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in USEW | Difference |
|---|---|---|---|
| AAPL | 7.09% | 1.80% | 5.29% |
| NVDA | 7.31% | 0.98% | 6.33% |
| MSFT | 4.43% | 0.96% | 3.47% |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| JPM | Pro | Pro | Pro |
See all 10 holdings SPY shares with USEW 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 USEW?
SPY has an expense ratio of 0.09% while USEW charges 0.30%. SPY is the cheaper option. On a $10,000 investment, that is $21 per year of difference.
What is the holdings overlap between SPY and USEW?
SPY and USEW share 347 common holdings with a 47.2% weight overlap. Combined, they hold 584 unique securities.
Which pays a higher dividend, SPY or USEW?
SPY yields 1.01% while USEW yields 0.55%, so SPY currently pays the higher dividend yield.
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