SPY vs USRT
SPY vs USRT
State Street SPDR S&P 500 ETF Trust vs iShares Core US REIT ETF
Quick Verdict
USRT has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | USRT | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.08% | |
| AUM | $789.1B | $4.7B | |
| Dividend Yield | 1.01% | 2.56% | |
| Holdings | 505 | 130 | |
| YTD Return | +13.79% | +19.14% | |
| 1Y Return | +23.66% | +22.94% | |
| 3Y Return (annualized) | +21.40% | +12.52% | |
| 5Y Return (annualized) | +13.37% | +5.07% | |
| Volatility (annualized) | 15.3% | 21.6% | |
| Max Drawdown | -56.5% | -72.9% | |
| Fund Family | State Street Investment Management | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | May 1, 2007 |
SPY vs USRT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and iShares Core US REIT ETF (USRT) is a ETF from iShares by BlackRock (US). Over the past year SPY returned +23.66% while USRT returned +22.94%. Year to date, SPY is up 13.79% versus a gain of 19.14% for USRT.
Over three years, SPY compounded at +21.40% per year against +12.52% for USRT; over five years the annualized figures are +13.37% and +5.07% respectively. Across the full 19-year window we track, SPY has the edge at +8.85% annualized vs +2.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USRT has been the more volatile fund, with annualized monthly volatility of 21.6% 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 -56.5% for SPY and -72.9% for USRT. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while USRT 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 2.56% for USRT.
Holdings Overlap
SPY and USRT share 25 holdings out of 605 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in USRT | Difference |
|---|---|---|---|
| WELL | 0.25% | 9.03% | 8.78% |
| PLD | 0.20% | 7.31% | 7.11% |
| EQIX | 0.15% | 5.93% | 5.78% |
| SPG | Pro | Pro | Pro |
| DLR | Pro | Pro | Pro |
| O | Pro | Pro | Pro |
| PSA | Pro | Pro | Pro |
| VTR | Pro | Pro | Pro |
| IRM | Pro | Pro | Pro |
| EXR | Pro | Pro | Pro |
See all 10 holdings SPY shares with USRT 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 USRT?
SPY has an expense ratio of 0.09% while USRT charges 0.08%. USRT is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, SPY or USRT?
Over the past year SPY returned +23.66% vs +22.94% for USRT, so SPY leads on 1-year performance. Over the longest common window we track (19 years), SPY annualized +8.85% vs +2.45% for USRT. Past performance does not guarantee future results.
Which is riskier, SPY or USRT?
USRT has been the more volatile fund at 21.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs USRT -72.9%.
Should I hold both SPY and USRT?
SPY and USRT have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and USRT?
SPY and USRT share 25 common holdings with a 1.5% weight overlap. Combined, they hold 605 unique securities.
Which pays a higher dividend, SPY or USRT?
SPY yields 1.01% while USRT yields 2.56%, so USRT currently pays the higher dividend yield.
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