EUSA vs SPY
iShares MSCI USA Equal Weighted ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EUSA or SPY?
SPY has been ahead.
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. EUSA is less concentrated, with 2.8% of the fund in its ten largest positions against 38.2%.
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 | EUSA | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $1.9B | $823.2B |
| Dividend Yield | 1.45% | 0.99% |
| Holdings | 519 | 1,515 |
| YTD Return | +9.63% | +13.53%Best |
| 1Y Return | +12.00% | +17.47%Best |
| 3Y Return (annualized) | +16.21% | +22.36%Best |
| 5Y Return (annualized) | +7.08% | +13.21%Best |
| Volatility (annualized) | 15.4% | 14.3%Best |
| Max Drawdown | -39.2% | -34.1%Best |
| $10,000 over 5 years | $14,078 | $18,596Best |
| Top 10 Weight | 2.8%Best | 38.2% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 5, 2010 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 7, 2010 to Oct 14, 2026 (16.4 years).
EUSA 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 16.4 years both funds cover.
EUSA vs SPY Performance
iShares MSCI USA Equal Weighted ETF (EUSA) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EUSA returned +12.00% while SPY returned +17.47%. Year to date, EUSA is up 9.63% versus a gain of 13.53% for SPY.
Over three years, EUSA compounded at +16.21% per year against +22.36% for SPY; over five years the annualized figures are +7.08% and +13.21% respectively. Across the full 16-year window we track, SPY has the edge at +13.01% annualized vs +10.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EUSA has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 14.3% 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 -39.2% for EUSA 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
EUSA charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, EUSA currently yields 1.45% against 0.99% for SPY.
Holdings Overlap
82.8% of EUSA's money is in holdings SPY also owns. 96.8% of SPY's money is in holdings EUSA also owns.
Most of SPY is already inside EUSA. Owning both mostly buys the same companies twice.
428 positions in common, counted across the 516 positions we hold weights for in EUSA and 504 in SPY, against full books of 519 and 1,515.
What only one of them owns
Our book lists 68 positions for SPY that do not appear in our book for EUSA (2.3% of the fund), and 74 for EUSA that do not appear in SPY (14.8%).
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 EUSA | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.22% | 7.78% | 7.56% |
| AAPLApple, Inc | 0.22% | 7.45% | 7.23% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 0.22% | 5.71% | 5.49% |
| AMZNAmazon.Com Inc | 0.19% | 3.78% | 3.59% |
| GOOGLAlphabet Inc Cap Stk Cl A | 0.11% | 3.12% | 3.01% |
| AVGOBroadcom Inc | 0.20% | 2.48% | 2.28% |
| GOOGAlphabet Inc Class C | 0.09% | 2.49% | 2.40% |
| METAMeta Platform Inc | 0.27% | 2.22% | 1.95% |
| MUMicron Technology, Inc. | 0.24% | 1.59% | 1.35% |
| TSLATesla Motors Inc | 0.21% | 1.54% | 1.33% |
96.8% of SPY is already inside EUSA.
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, EUSA or SPY?
EUSA has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, EUSA or SPY?
Over the past year EUSA returned +12.00% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), EUSA annualized +10.57% vs +13.01% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EUSA or SPY?
EUSA has been the more volatile fund at 15.4% annualized versus 14.3% for SPY. Worst drawdown: EUSA -39.2% vs SPY -34.1%.
Should I hold both EUSA and SPY?
EUSA and SPY have a monthly-return correlation of 0.95, 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 EUSA and SPY?
96.8% of SPY's money is in holdings EUSA also owns. 96.8% of SPY's is in holdings EUSA also owns. They hold 428 positions in common, counted across the 516 positions we hold weights for in EUSA and 504 in SPY.
Which pays a higher dividend, EUSA or SPY?
EUSA yields 1.45% while SPY yields 0.99%, so EUSA currently pays the higher dividend yield.
Is SPY better than EUSA?
SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. EUSA is less concentrated, with 2.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.