SPY vs WIA
SPY vs WIA
State Street SPDR S&P 500 ETF Trust vs Western Asset Inflation-Linked Income Fund
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | WIA | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.83% | |
| AUM | $789.1B | $205M | |
| Dividend Yield | 1.01% | 6.98% | |
| Holdings | 505 | 161 | |
| YTD Return | +9.93% | +0.52% | |
| 1Y Return | +19.50% | +2.58% | |
| 3Y Return (annualized) | +19.33% | +6.05% | |
| 5Y Return (annualized) | +12.82% | -1.34% | |
| Volatility (annualized) | 15.3% | 9.8% | |
| Max Drawdown | -56.5% | -43.6% | |
| Fund Family | State Street Investment Management | Franklin Templeton Investments (US) | |
| Category | Equity | Fixed Income | |
| Inception | Jan 22, 1993 | Sep 30, 2003 |
SPY vs WIA Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Western Asset Inflation-Linked Income Fund (WIA) is a ETF from Franklin Templeton Investments (US). Over the past year SPY returned +19.50% while WIA returned +2.58%. Year to date, SPY is up 9.93% versus a gain of 0.52% for WIA.
Over three years, SPY compounded at +19.33% per year against +6.05% for WIA; over five years the annualized figures are +12.82% and -1.34% respectively. Across the full 23-year window we track, SPY has the edge at +8.74% annualized vs -0.47%. 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 9.8% for WIA. 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 -43.6% for WIA. 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SPY charges 0.09% per year while WIA charges 0.83%. On a $10,000 position that is $9 vs $83 annually, a gap of $74 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 6.98% for WIA.
Holdings Overlap
SPY and WIA share 0 holdings out of 592 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or WIA?
SPY has an expense ratio of 0.09% while WIA charges 0.83%. SPY is the cheaper option. On a $10,000 investment, that is $74 per year of difference.
Which performed better, SPY or WIA?
Over the past year SPY returned +19.50% vs +2.58% for WIA, so SPY leads on 1-year performance. Over the longest common window we track (23 years), SPY annualized +8.74% vs -0.47% for WIA. Past performance does not guarantee future results.
Which is riskier, SPY or WIA?
SPY has been the more volatile fund at 15.3% annualized versus 9.8% for WIA. Worst drawdown: SPY -56.5% vs WIA -43.6%.
Should I hold both SPY and WIA?
SPY and WIA have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SPY and WIA?
SPY and WIA share 0 common holdings with a 0.0% weight overlap. Combined, they hold 592 unique securities.
Which pays a higher dividend, SPY or WIA?
SPY yields 1.01% while WIA yields 6.98%, so WIA currently pays the higher dividend yield.
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