SPY vs VBK
SPY vs VBK
State Street SPDR S&P 500 ETF Trust vs Vanguard Small Cap Growth ETF
Quick Verdict
VBK has a lower expense ratio. VBK delivered stronger 1-year returns. VBK offers more diversification with 541 holdings.
Side-by-Side Comparison
| Metric | SPY | VBK | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.05% | |
| AUM | $789.1B | $24.8B | |
| Dividend Yield | 1.01% | 0.57% | |
| Holdings | 505 | 561 | |
| YTD Return | +13.28% | +15.28% | |
| 1Y Return | +23.94% | +26.19% | |
| 3Y Return (annualized) | +21.07% | +15.78% | |
| 5Y Return (annualized) | +13.27% | +4.74% | |
| Volatility (annualized) | 15.3% | 19.6% | |
| Max Drawdown | -56.5% | -59.4% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jan 26, 2004 |
SPY vs VBK Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Small Cap Growth ETF (VBK) is a ETF from Vanguard (US). Over the past year SPY returned +23.94% while VBK returned +26.19%. Year to date, SPY is up 13.28% versus a gain of 15.28% for VBK.
Over three years, SPY compounded at +21.07% per year against +15.78% for VBK; over five years the annualized figures are +13.27% and +4.74% respectively. Across the full 23-year window we track, VBK has the edge at +9.32% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VBK has been the more volatile fund, with annualized monthly volatility of 19.6% 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 -59.4% for VBK. 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 0.90. 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 VBK charges 0.05%. On a $10,000 position that is $9 vs $5 annually, a gap of $4 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.57% for VBK.
Holdings Overlap
SPY and VBK share 32 holdings out of 1012 unique holdings combined, representing a 0.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VBK | Difference |
|---|---|---|---|
| CASY | 0.05% | 0.80% | 0.75% |
| EME | 0.05% | 0.51% | 0.46% |
| INCY | 0.03% | 0.53% | 0.50% |
| LII | Pro | Pro | Pro |
| GNRC | Pro | Pro | Pro |
| NDSN | Pro | Pro | Pro |
| DECK | Pro | Pro | Pro |
| TPL | Pro | Pro | Pro |
| PTC | Pro | Pro | Pro |
| UDR | Pro | Pro | Pro |
See all 10 holdings SPY shares with VBK 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 VBK?
SPY has an expense ratio of 0.09% while VBK charges 0.05%. VBK is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, SPY or VBK?
Over the past year SPY returned +23.94% vs +26.19% for VBK, so VBK leads on 1-year performance. Over the longest common window we track (23 years), SPY annualized +8.84% vs +9.32% for VBK. Past performance does not guarantee future results.
Which is riskier, SPY or VBK?
VBK has been the more volatile fund at 19.6% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VBK -59.4%.
Should I hold both SPY and VBK?
SPY and VBK have a monthly-return correlation of 0.90, 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 VBK?
SPY and VBK share 32 common holdings with a 0.7% weight overlap. Combined, they hold 1012 unique securities.
Which pays a higher dividend, SPY or VBK?
SPY yields 1.01% while VBK yields 0.57%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.