MEDX vs SPY
Horizon Kinetics Medical ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MEDX or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
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 | MEDX | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $16M | $823.2B |
| Dividend Yield | 1.16% | 0.99% |
| Holdings | 68 | 1,515 |
| YTD Return | +6.58% | +13.53%Best |
| 1Y Return | +14.21% | +17.47%Best |
| 3Y Return (annualized) | +9.64% | +22.36%Best |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 14.2% | 12.3%Best |
| Max Drawdown | -21.6% | -18.8%Best |
| $10,000 over 3.7 years | $12,589 | $19,845Best |
| Fund Family | Horizon Kinetics LLC | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 27, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.7 years row, are measured over the window both funds cover: Jan 31, 2023 to Oct 14, 2026 (3.7 years).
MEDX 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 3.7 years both funds cover.
MEDX vs SPY Performance
Horizon Kinetics Medical ETF (MEDX) is an ETF from Horizon Kinetics LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MEDX returned +14.21% while SPY returned +17.47%. Year to date, MEDX is up 6.58% versus a gain of 13.53% for SPY.
Over three years, MEDX compounded at +9.64% per year against +22.36% for SPY. Across the full 4-year window we track, SPY has the edge at +20.35% annualized vs +6.42%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MEDX has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 12.3% 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 -21.6% for MEDX and -18.8% 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 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MEDX charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, MEDX currently yields 1.16% against 0.99% for SPY.
Holdings Overlap
At least 4.6% of SPY's money is in holdings MEDX also owns.
Stated as a floor: for MEDX, our book for it covers 91.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and MEDX share little of their money.
11 positions in common, counted across the 31 positions we hold weights for in MEDX and 504 in SPY, against full books of 68 and 1,515.
Top Shared Holdings
| Stock | Weight in MEDX | Weight in SPY | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 19.14% | 1.37% | 17.77% |
| ABBVAbbvie Inc. | 9.99% | 0.70% | 9.29% |
| JNJJohnson & Johnson - Common | 5.96% | 0.98% | 4.98% |
| MRKMerck & Company Inc | 4.60% | 0.54% | 4.06% |
| AMGNAmgen Inc. | 4.67% | 0.31% | 4.36% |
| BMYBristol-Myers Squibb Co. | 4.32% | 0.20% | 4.12% |
| PFEPfizer Inc | 3.48% | 0.24% | 3.24% |
| BIIBBiogen Inc. Com | 3.32% | 0.05% | 3.27% |
| REGNRegeneron Pharmaceuticals, Inc. | 2.57% | 0.12% | 2.45% |
| GEHCGe Healthcare Technologies Inc | 0.30% | 0.04% | 0.26% |
You are not choosing between two funds in isolation.
Whichever of MEDX and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MEDX or SPY?
MEDX has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, MEDX or SPY?
Over the past year MEDX returned +14.21% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), MEDX annualized +6.42% vs +20.35% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MEDX or SPY?
MEDX has been the more volatile fund at 14.2% annualized versus 12.3% for SPY. Worst drawdown: MEDX -21.6% vs SPY -18.8%.
Should I hold both MEDX and SPY?
MEDX and SPY have a monthly-return correlation of 0.40, 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 MEDX and SPY?
At least 4.6% of SPY's money is in holdings MEDX also owns. Our book for MEDX is partial, so the real figure is this or higher. They hold 11 positions in common, counted across the 31 positions we hold weights for in MEDX and 504 in SPY.
Which pays a higher dividend, MEDX or SPY?
MEDX yields 1.16% while SPY yields 0.99%, so MEDX currently pays the higher dividend yield.
Is SPY better than MEDX?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.