SPY vs VOX
SPY vs VOX
State Street SPDR S&P 500 ETF Trust vs Vanguard Communication Services ETF
Quick Verdict
VOX has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | VOX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $789.1B | $5.7B | |
| Dividend Yield | 1.01% | 1.06% | |
| Holdings | 505 | 117 | |
| YTD Return | +13.79% | -2.40% | |
| 1Y Return | +23.66% | +8.92% | |
| 3Y Return (annualized) | +21.40% | +20.49% | |
| 5Y Return (annualized) | +13.37% | +6.43% | |
| Volatility (annualized) | 15.3% | 16.7% | |
| Max Drawdown | -56.5% | -57.2% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Sep 23, 2004 |
SPY vs VOX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Communication Services ETF (VOX) is a ETF from Vanguard (US). Over the past year SPY returned +23.66% while VOX returned +8.92%. Year to date, SPY is up 13.79% versus a loss of 2.40% for VOX.
Over three years, SPY compounded at +21.40% per year against +20.49% for VOX; over five years the annualized figures are +13.37% and +6.43% respectively. Across the full 22-year window we track, SPY has the edge at +8.85% annualized vs +8.72%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOX has been the more volatile fund, with annualized monthly volatility of 16.7% 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 -57.2% for VOX. 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SPY charges 0.09% per year while VOX charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.06% for VOX.
Holdings Overlap
SPY and VOX share 23 holdings out of 593 unique holdings combined, representing a 10.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VOX | Difference |
|---|---|---|---|
| META | 2.03% | 20.31% | 18.28% |
| GOOGL | 3.32% | 14.40% | 11.08% |
| GOOG | 2.66% | 7.79% | 5.13% |
| NFLX | Pro | Pro | Pro |
| DIS | Pro | Pro | Pro |
| VZ | Pro | Pro | Pro |
| T | Pro | Pro | Pro |
| CMCSA | Pro | Pro | Pro |
| TMUS | Pro | Pro | Pro |
| WBD | Pro | Pro | Pro |
See all 10 holdings SPY shares with VOX 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 VOX?
SPY has an expense ratio of 0.09% while VOX charges 0.09%. VOX is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPY or VOX?
Over the past year SPY returned +23.66% vs +8.92% for VOX, so SPY leads on 1-year performance. Over the longest common window we track (22 years), SPY annualized +8.85% vs +8.72% for VOX. Past performance does not guarantee future results.
Which is riskier, SPY or VOX?
VOX has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs VOX -57.2%.
Should I hold both SPY and VOX?
SPY and VOX have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and VOX?
SPY and VOX share 23 common holdings with a 10.0% weight overlap. Combined, they hold 593 unique securities.
Which pays a higher dividend, SPY or VOX?
SPY yields 1.01% while VOX yields 1.06%, so VOX currently pays the higher dividend yield.
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