EVT vs SPY
Eaton Vance Tax-Advantaged Dividend Income Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, EVT or SPY?
Equity-oriented Balanced against Large Cap Blend.
SPY has a lower expense ratio. EVT led over 1Y, SPY over 3Y, 5Y and the full window. EVT is less concentrated, with 28.3% 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 | EVT | SPY |
|---|---|---|
| Expense Ratio | 1.59% | 0.09%Best |
| AUM | $2.3B | $823.2B |
| Dividend Yield | 6.57% | 0.99% |
| Holdings | 162 | 1,515 |
| YTD Return | +14.15%Best | +13.53% |
| 1Y Return | +20.19%Best | +17.47% |
| 3Y Return (annualized) | +18.63% | +22.36%Best |
| 5Y Return (annualized) | +7.13% | +13.21%Best |
| Volatility (annualized) | 20.7% | 14.5%Best |
| Max Drawdown | -77.9% | -56.5%Best |
| $10,000 over 5 years | $14,111 | $18,596Best |
| Top 10 Weight | 28.3%Best | 38.2% |
| Fund Family | Eaton Vance | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Sep 30, 2003 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 30, 2003 to Oct 14, 2026 (23 years).
EVT 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 23 years both funds cover.
EVT vs SPY Performance
Eaton Vance Tax-Advantaged Dividend Income Fund (EVT) is an ETF from Eaton Vance and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EVT returned +20.19% while SPY returned +17.47%. Year to date, EVT is up 14.15% versus a gain of 13.53% for SPY.
Over three years, EVT compounded at +18.63% per year against +22.36% for SPY; over five years the annualized figures are +7.13% and +13.21% respectively. Across the full 23-year window we track, SPY has the edge at +9.63% annualized vs +3.28%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EVT has been the more volatile fund, with annualized monthly volatility of 20.7% compared with 14.5% 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 -77.9% for EVT and -56.5% 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EVT charges 1.59% per year while SPY charges 0.09%. On a $10,000 position that is $159 vs $9 annually, a gap of $150 per year that compounds over a long holding period. On income, EVT currently yields 6.57% against 0.99% for SPY.
Holdings Overlap
76.7% of EVT's money is in holdings SPY also owns. 35.4% of SPY's money is in holdings EVT also owns.
Most of EVT is already inside SPY. Owning both mostly buys the same companies twice.
60 positions in common, counted across the 127 positions we hold weights for in EVT and 504 in SPY, against full books of 162 and 1,515.
What only one of them owns
Our book lists 436 positions for SPY that do not appear in our book for EVT (63.7% of the fund), and 64 for EVT that do not appear in SPY (17.9%).
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 EVT | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.90% | 7.45% | 4.55% |
| AMZNAmazon.Com Inc | 3.17% | 3.78% | 0.61% |
| MUMicron Technology, Inc. | 5.00% | 1.59% | 3.41% |
| MSFTMicrosoft Corp | 0.77% | 5.71% | 4.94% |
| JPMJpmorgan Chase | 4.00% | 1.43% | 2.57% |
| GOOGAlphabet Inc. C | 2.53% | 2.49% | 0.04% |
| CSCOCisco Systems Inc. - Ordinary Shares | 2.53% | 0.66% | 1.87% |
| BACBank Of America Corp. | 2.12% | 0.59% | 1.53% |
| AMDAdvanced Micro Devices Inc | 1.38% | 1.22% | 0.16% |
| MMM3m Co. | 2.23% | 0.13% | 2.10% |
76.7% of EVT 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, EVT or SPY?
EVT has an expense ratio of 1.59% while SPY charges 0.09%. SPY is the cheaper option, by $150 a year on a $10,000 investment.
Which performed better, EVT or SPY?
Over the past year EVT returned +20.19% vs +17.47% for SPY, so EVT leads on 1-year performance. Over the longest common window we track (23 years), EVT annualized +3.28% vs +9.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EVT or SPY?
EVT has been the more volatile fund at 20.7% annualized versus 14.5% for SPY. Worst drawdown: EVT -77.9% vs SPY -56.5%.
Should I hold both EVT and SPY?
EVT and SPY have a monthly-return correlation of 0.86, 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 EVT and SPY?
76.7% of EVT's money is in holdings SPY also owns. 35.4% of SPY's is in holdings EVT also owns. They hold 60 positions in common, counted across the 127 positions we hold weights for in EVT and 504 in SPY.
Which pays a higher dividend, EVT or SPY?
EVT yields 6.57% while SPY yields 0.99%, so EVT currently pays the higher dividend yield.
Is SPY better than EVT?
SPY has a lower expense ratio. EVT led over 1Y, SPY over 3Y, 5Y and the full window. EVT is less concentrated, with 28.3% 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.