SPY vs USVM
SPY vs USVM
State Street SPDR S&P 500 ETF Trust vs VictoryShares US Small Mid Cap Value Momentum ETF
Quick Verdict
SPY has a lower expense ratio. USVM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | USVM | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.29% | |
| AUM | $789.1B | $1.8B | |
| Dividend Yield | 1.01% | 1.74% | |
| Holdings | 505 | 292 | |
| YTD Return | +13.28% | +21.99% | |
| 1Y Return | +23.94% | +36.14% | |
| 3Y Return (annualized) | +21.07% | +19.31% | |
| 5Y Return (annualized) | +13.27% | +11.33% | |
| Volatility (annualized) | 15.3% | 20.3% | |
| Max Drawdown | -56.5% | -44.1% | |
| Fund Family | State Street Investment Management | Victory Capital Management Inc. | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Oct 24, 2017 |
SPY vs USVM Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and VictoryShares US Small Mid Cap Value Momentum ETF (USVM) is a ETF from Victory Capital Management Inc.. Over the past year SPY returned +23.94% while USVM returned +36.14%. Year to date, SPY is up 13.28% versus a gain of 21.99% for USVM.
Over three years, SPY compounded at +21.07% per year against +19.31% for USVM; over five years the annualized figures are +13.27% and +11.33% respectively. Across the full 9-year window we track, USVM has the edge at +10.66% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
USVM has been the more volatile fund, with annualized monthly volatility of 20.3% 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 -56.5% for SPY and -44.1% for USVM. 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while USVM charges 0.29%. On a $10,000 position that is $9 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.74% for USVM.
Holdings Overlap
SPY and USVM share 13 holdings out of 775 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in USVM | Difference |
|---|---|---|---|
| PNW | 0.02% | 0.80% | 0.78% |
| EG | 0.02% | 0.59% | 0.57% |
| HST | 0.02% | 0.54% | 0.52% |
| HSIC | Pro | Pro | Pro |
| SOLV | Pro | Pro | Pro |
| BEN | Pro | Pro | Pro |
| TAP | Pro | Pro | Pro |
| VTRS | Pro | Pro | Pro |
| UHS | Pro | Pro | Pro |
| IVZ | Pro | Pro | Pro |
See all 10 holdings SPY shares with USVM 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 USVM?
SPY has an expense ratio of 0.09% while USVM charges 0.29%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, SPY or USVM?
Over the past year SPY returned +23.94% vs +36.14% for USVM, so USVM leads on 1-year performance. Over the longest common window we track (9 years), SPY annualized +8.84% vs +10.66% for USVM. Past performance does not guarantee future results.
Which is riskier, SPY or USVM?
USVM has been the more volatile fund at 20.3% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs USVM -44.1%.
Should I hold both SPY and USVM?
SPY and USVM have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and USVM?
SPY and USVM share 13 common holdings with a 0.2% weight overlap. Combined, they hold 775 unique securities.
Which pays a higher dividend, SPY or USVM?
SPY yields 1.01% while USVM yields 1.74%, so USVM currently pays the higher dividend yield.
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