SPY vs VTWAX
SPY vs VTWAX
State Street SPDR S&P 500 ETF Trust vs Vanguard Total World Stock Index Fund Admiral Class
Quick Verdict
VTWAX has a lower expense ratio. SPY delivered stronger 1-year returns. VTWAX offers more diversification with 9790 holdings.
Side-by-Side Comparison
| Metric | SPY | VTWAX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $789.1B | $12.1B | |
| Dividend Yield | 1.01% | 1.55% | |
| Holdings | 505 | 10,039 | |
| YTD Return | +13.79% | +12.57% | |
| 1Y Return | +23.66% | +22.27% | |
| 3Y Return (annualized) | +21.40% | +17.50% | |
| 5Y Return (annualized) | +13.37% | +8.78% | |
| Volatility (annualized) | 15.3% | 15.2% | |
| Max Drawdown | -56.5% | -28.0% | |
| Fund Family | State Street Investment Management | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Feb 7, 2019 |
SPY vs VTWAX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Vanguard Total World Stock Index Fund Admiral Class (VTWAX) is a mutual fund from Vanguard (US). Over the past year SPY returned +23.66% while VTWAX returned +22.27%. Year to date, SPY is up 13.79% versus a gain of 12.57% for VTWAX.
Over three years, SPY compounded at +21.40% per year against +17.50% for VTWAX; over five years the annualized figures are +13.37% and +8.78% respectively. Across the full 5-year window we track, SPY has the edge at +8.85% annualized vs +8.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.2% for VTWAX. 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 -28.0% for VTWAX. 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 0.97. 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 VTWAX 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 1.55% for VTWAX.
Holdings Overlap
SPY and VTWAX share 490 holdings out of 9803 unique holdings combined, representing a 52.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in SPY | Weight in VTWAX | Difference |
|---|---|---|---|
| NVDA | 7.31% | 4.16% | 3.15% |
| AAPL | 7.09% | 3.51% | 3.58% |
| MSFT | 4.43% | 2.96% | 1.47% |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
See all 10 holdings SPY shares with VTWAX 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 VTWAX?
SPY has an expense ratio of 0.09% while VTWAX charges 0.09%. VTWAX is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, SPY or VTWAX?
Over the past year SPY returned +23.66% vs +22.27% for VTWAX, so SPY leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.85% vs +8.78% for VTWAX. Past performance does not guarantee future results.
Which is riskier, SPY or VTWAX?
SPY has been the more volatile fund at 15.3% annualized versus 15.2% for VTWAX. Worst drawdown: SPY -56.5% vs VTWAX -28.0%.
Should I hold both SPY and VTWAX?
SPY and VTWAX have a monthly-return correlation of 0.97, 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 VTWAX?
SPY and VTWAX share 490 common holdings with a 52.6% weight overlap. Combined, they hold 9803 unique securities.
Which pays a higher dividend, SPY or VTWAX?
SPY yields 1.01% while VTWAX yields 1.55%, so VTWAX currently pays the higher dividend yield.
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