BOE vs SSPY
BlackRock Enhanced Global Dividend Trust vs Stratified LargeCap Index ETF
Which is better, BOE or SSPY?
Each has led over a different period.
SSPY has a lower expense ratio. BOE led over 3Y, SSPY over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 35.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BOE | SSPY |
|---|---|---|
| Expense Ratio | 0.90% | 0.45%Best |
| AUM | $737M | $129M |
| Dividend Yield | 7.52% | 1.25% |
| Holdings | 169 | 1,013 |
| YTD Return | +4.82% | +12.63%Best |
| 1Y Return | +9.32% | +15.52%Best |
| 3Y Return (annualized) | +16.03%Best | +15.71% |
| 5Y Return (annualized) | +7.46% | +8.93%Best |
| Volatility (annualized) | 16.1%Best | 16.9% |
| Max Drawdown | -37.4% | -36.7%Best |
| $10,000 over 5 years | $14,330 | $15,337Best |
| Top 10 Weight | 35.7% | 8.9%Best |
| Fund Family | BlackRock, Inc. (US) | Syntax Stratified |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 26, 2005 | Jan 2, 2019 |
Volatility and max drawdown are measured over the window both funds cover: Jan 4, 2019 to Oct 14, 2026 (7.8 years).
BOE vs SSPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.8 years both funds cover.
BOE vs SSPY Performance
BlackRock Enhanced Global Dividend Trust (BOE) is an ETF from BlackRock, Inc. (US) and Stratified LargeCap Index ETF (SSPY) is an ETF from Syntax Stratified. Over the past year BOE returned +9.32% while SSPY returned +15.52%. Year to date, BOE is up 4.82% versus a gain of 12.63% for SSPY.
Over three years, BOE compounded at +16.03% per year against +15.71% for SSPY; over five years the annualized figures are +7.46% and +8.93% respectively. Across the full 8-year window we track, SSPY has the edge at +13.36% annualized vs +8.20%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SSPY has been the more volatile fund, with annualized monthly volatility of 16.9% compared with 16.1% for BOE. 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 -37.4% for BOE and -36.7% for SSPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BOE charges 0.90% per year while SSPY charges 0.45%. On a $10,000 position that is $90 vs $45 annually, a gap of $45 per year that compounds over a long holding period. On income, BOE currently yields 7.52% against 1.25% for SSPY.
Holdings Overlap
53.0% of BOE's money is in holdings SSPY also owns. 7.5% of SSPY's money is in holdings BOE also owns.
The two portfolios partly overlap.
The two holdings books were reported 73 days apart, BOE as of Jun 30, 2026 and SSPY as of Sep 11, 2026, so some of the difference between them is the time between the two reports rather than the funds.
24 positions in common, counted across the 51 positions we hold weights for in BOE and 504 in SSPY, against full books of 169 and 1,013.
What only one of them owns
Our book lists 472 positions for SSPY that do not appear in our book for BOE (90.8% of the fund), and 3 for BOE that do not appear in SSPY (3.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BOE | Weight in SSPY | Difference |
|---|---|---|---|
| GOOGLAlphabet Inc | 4.69% | 0.32% | 4.37% |
| MSFTMicrosoft Corp | 3.40% | 1.29% | 2.11% |
| NVDANvidia Corp | 4.41% | 0.12% | 4.29% |
| AAPLApple, Inc | 3.17% | 0.58% | 2.59% |
| AMATApplied Materials, Inc. | 3.50% | 0.14% | 3.36% |
| AVGOBroadcom Inc | 3.16% | 0.32% | 2.84% |
| JNJJohnson & Johnson - Common | 2.45% | 0.30% | 2.15% |
| KOCoca Cola Co. | 2.47% | 0.27% | 2.20% |
| TJXTjx Cos., Inc. | 1.94% | 0.57% | 1.37% |
| WMBWilliams Cos. Inc. | 1.94% | 0.52% | 1.42% |
53.0% of BOE is already inside SSPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, BOE or SSPY?
BOE has an expense ratio of 0.90% while SSPY charges 0.45%. SSPY is the cheaper option, by $45 a year on a $10,000 investment.
Which performed better, BOE or SSPY?
Over the past year BOE returned +9.32% vs +15.52% for SSPY, so SSPY leads on 1-year performance. Over the longest common window we track (8 years), BOE annualized +8.20% vs +13.36% for SSPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BOE or SSPY?
SSPY has been the more volatile fund at 16.9% annualized versus 16.1% for BOE. Worst drawdown: BOE -37.4% vs SSPY -36.7%.
Should I hold both BOE and SSPY?
BOE and SSPY have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BOE and SSPY?
53.0% of BOE's money is in holdings SSPY also owns. 7.5% of SSPY's is in holdings BOE also owns. They hold 24 positions in common, counted across the 51 positions we hold weights for in BOE and 504 in SSPY.
Which pays a higher dividend, BOE or SSPY?
BOE yields 7.52% while SSPY yields 1.25%, so BOE currently pays the higher dividend yield.
Is SSPY better than BOE?
SSPY has a lower expense ratio. BOE led over 3Y, SSPY over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 35.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.