EMLP vs SPY
First Trust North American Energy Infrastructure Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, EMLP or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. EMLP led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 42.9%.
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 | EMLP | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $4.1B | $823.2B |
| Dividend Yield | 2.99% | 0.99% |
| Holdings | 116 | 1,515 |
| YTD Return | +14.20%Best | +13.53% |
| 1Y Return | +15.53% | +17.47%Best |
| 3Y Return (annualized) | +20.59% | +22.36%Best |
| 5Y Return (annualized) | +15.13%Best | +13.21% |
| Volatility (annualized) | 15.3% | 14.0%Best |
| Max Drawdown | -48.0% | -34.1%Best |
| $10,000 over 5 years | $20,228Best | $18,596 |
| Top 10 Weight | 42.9% | 38.2%Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Jun 20, 2012 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 21, 2012 to Oct 14, 2026 (14.3 years).
EMLP vs SPY 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 14.3 years both funds cover.
EMLP vs SPY Performance
First Trust North American Energy Infrastructure Fund (EMLP) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EMLP returned +15.53% while SPY returned +17.47%. Year to date, EMLP is up 14.20% versus a gain of 13.53% for SPY.
Over three years, EMLP compounded at +20.59% per year against +22.36% for SPY; over five years the annualized figures are +15.13% and +13.21% respectively. Across the full 14-year window we track, SPY has the edge at +13.69% annualized vs +6.97%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMLP has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.0% 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 -48.0% for EMLP and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.66. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EMLP charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, EMLP currently yields 2.99% against 0.99% for SPY.
Holdings Overlap
45.1% of EMLP's money is in holdings SPY also owns. 2.2% of SPY's money is in holdings EMLP also owns.
The two portfolios partly overlap.
31 positions in common, counted across the 58 positions we hold weights for in EMLP and 504 in SPY, against full books of 116 and 1,515.
What only one of them owns
Our book lists 464 positions for SPY that do not appear in our book for EMLP (96.9% of the fund), and 20 for EMLP that do not appear in SPY (45.7%).
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 EMLP | Weight in SPY | Difference |
|---|---|---|---|
| KMIKinder Morgan Usd0.01 | 3.78% | 0.09% | 3.69% |
| SOSouthern Co. | 2.80% | 0.15% | 2.65% |
| PPLPembina Pipeline 4.8 | 2.81% | 0.04% | 2.77% |
| DUKDuke Energy Corp | 2.52% | 0.14% | 2.38% |
| AEPAmerican Electric Power Co. Inc. | 2.31% | 0.10% | 2.21% |
| ETREntergy Corp | 2.32% | 0.07% | 2.25% |
| OKEOneok, Inc. | 2.30% | 0.09% | 2.21% |
| CMSCms Energy Corp. | 2.04% | 0.03% | 2.01% |
| SRESempra Common Stock | 1.99% | 0.08% | 1.91% |
| XELXcel Energy Inc Common Stock Usd 2.5 | 1.79% | 0.07% | 1.72% |
45.1% of EMLP is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EMLP or SPY?
EMLP has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, EMLP or SPY?
Over the past year EMLP returned +15.53% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), EMLP annualized +6.97% vs +13.69% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EMLP or SPY?
EMLP has been the more volatile fund at 15.3% annualized versus 14.0% for SPY. Worst drawdown: EMLP -48.0% vs SPY -34.1%.
Should I hold both EMLP and SPY?
EMLP and SPY have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EMLP and SPY?
45.1% of EMLP's money is in holdings SPY also owns. 2.2% of SPY's is in holdings EMLP also owns. They hold 31 positions in common, counted across the 58 positions we hold weights for in EMLP and 504 in SPY.
Which pays a higher dividend, EMLP or SPY?
EMLP yields 2.99% while SPY yields 0.99%, so EMLP currently pays the higher dividend yield.
Is SPY better than EMLP?
SPY has a lower expense ratio. EMLP led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 42.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.