OEF vs SPY
iShares S&P 100 ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OEF or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. OEF led over 3Y and 5Y, SPY over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 52.5%.
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 | OEF | SPY |
|---|---|---|
| Expense Ratio | 0.20% | 0.09%Best |
| AUM | $20.8B | $823.2B |
| Dividend Yield | 0.85% | 0.99% |
| Holdings | 105 | 1,515 |
| YTD Return | +13.12% | +13.53%Best |
| 1Y Return | +17.28% | +17.47%Best |
| 3Y Return (annualized) | +24.48%Best | +22.36% |
| 5Y Return (annualized) | +14.93%Best | +13.21% |
| Volatility (annualized) | 15.3% | 15.1%Best |
| Max Drawdown | -57.3% | -56.5%Best |
| $10,000 over 5 years | $20,052Best | $18,596 |
| Top 10 Weight | 52.5% | 38.2%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 23, 2000 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 27, 2000 to Oct 14, 2026 (26 years).
OEF 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 26 years both funds cover.
OEF vs SPY Performance
iShares S&P 100 ETF (OEF) 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 OEF returned +17.28% while SPY returned +17.47%. Year to date, OEF is up 13.12% versus a gain of 13.53% for SPY.
Over three years, OEF compounded at +24.48% per year against +22.36% for SPY; over five years the annualized figures are +14.93% and +13.21% respectively. Across the full 26-year window we track, SPY has the edge at +7.12% annualized vs +6.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OEF has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.1% 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 -57.3% for OEF 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
OEF charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, OEF currently yields 0.85% against 0.99% for SPY.
Holdings Overlap
99.6% of OEF's money is in holdings SPY also owns. 73.5% of SPY's money is in holdings OEF also owns.
Most of OEF is already inside SPY. Owning both mostly buys the same companies twice.
100 positions in common, counted across the 102 positions we hold weights for in OEF and 504 in SPY, against full books of 105 and 1,515.
What only one of them owns
Measured across the 102 and 504 positions we hold weights for.
SPY holds 397 positions OEF does not, 25.7% of the fund.
Largest: CRWD 0.36%, KLAC 0.34%, APH 0.29%, MRVL 0.29%, ADI 0.27%
Top Shared Holdings
| Stock | Weight in OEF | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 11.40% | 7.78% | 3.62% |
| AAPLApple, Inc | 9.84% | 7.45% | 2.39% |
| MSFTMicrosoft Corp | 7.77% | 5.71% | 2.06% |
| AMZNAmazon.Com Inc | 4.97% | 3.78% | 1.19% |
| GOOGLAlphabet Inc | 4.05% | 3.12% | 0.93% |
| AVGOBroadcom Inc | 3.34% | 2.48% | 0.86% |
| GOOGAlphabet Inc. C | 3.25% | 2.49% | 0.76% |
| METAMeta Platforms Inc | 3.27% | 2.22% | 1.05% |
| MUMicron Technology, Inc. | 2.53% | 1.59% | 0.94% |
| TSLATesla Inc | 2.04% | 1.54% | 0.50% |
99.6% of OEF 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, OEF or SPY?
OEF has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, OEF or SPY?
Over the past year OEF returned +17.28% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (26 years), OEF annualized +6.91% vs +7.12% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OEF or SPY?
OEF has been the more volatile fund at 15.3% annualized versus 15.1% for SPY. Worst drawdown: OEF -57.3% vs SPY -56.5%.
Should I hold both OEF and SPY?
OEF and SPY have a monthly-return correlation of 0.98, 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 OEF and SPY?
99.6% of OEF's money is in holdings SPY also owns. 73.5% of SPY's is in holdings OEF also owns. They hold 100 positions in common, counted across the 102 positions we hold weights for in OEF and 504 in SPY.
Which pays a higher dividend, OEF or SPY?
OEF yields 0.85% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than OEF?
SPY has a lower expense ratio. OEF led over 3Y and 5Y, SPY over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 52.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.