State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard US Value Factor ETF (VFVA) is a ETF from Vanguard (US). Over the past year SPY returned +22.80% while VFVA returned +35.02%. Year to date, SPY is up 13.10% versus a gain of 19.07% for VFVA.

Over three years, SPY compounded at +20.98% per year against +16.23% for VFVA; over five years the annualized figures are +13.20% and +12.12% respectively. Across the full 9-year window we track, VFVA has the edge at +11.20% annualized vs +8.83%. Past performance does not guarantee future results.

VFVA has been the more volatile fund, with annualized monthly volatility of 22.9% 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 -48.6% for VFVA. 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 0.83. They usually move together, but the gap leaves some room for diversification.

SPY charges 0.09% per year while VFVA charges 0.13%. On a $10,000 position that is $9 vs $13 annually, a gap of $4 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 2.56% for VFVA.