RJDI vs SPY
RJ Eagle GCM Dividend Select Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RJDI or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. RJDI led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 42.4%.
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 | RJDI | SPY |
|---|---|---|
| Expense Ratio | 0.63% | 0.09%Best |
| AUM | $132M | $811.2B |
| Dividend Yield | 0.78% | 0.98% |
| Holdings | 74 | 1,515 |
| YTD Return | +15.49%Best | +14.77% |
| 1Y Return | +19.44%Best | +18.61% |
| 3Y Return (annualized) | - | +22.83% |
| 5Y Return (annualized) | - | +13.84% |
| Volatility (annualized) | 13.3% | 13.2%Best |
| Max Drawdown | -7.0%Best | -8.9% |
| $10,000 over 1 years | $11,760Best | $11,697 |
| Top 10 Weight | 42.4% | 38.2%Best |
| Fund Family | Raymond James Financial, Inc. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 2, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1 years row, are measured over the window both funds cover: Oct 2, 2025 to Oct 13, 2026 (1 years).
RJDI 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 1 years both funds cover.
RJDI vs SPY Performance
RJ Eagle GCM Dividend Select Income ETF (RJDI) is an ETF from Raymond James Financial, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RJDI returned +19.44% while SPY returned +18.61%. Year to date, RJDI is up 15.49% versus a gain of 14.77% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RJDI has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 13.2% 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 -7.0% for RJDI and -8.9% 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 0.55. They move together some of the time, and apart the rest.
Fees and Cost Over Time
RJDI charges 0.63% per year while SPY charges 0.09%. On a $10,000 position that is $63 vs $9 annually, a gap of $54 per year that compounds over a long holding period. On income, RJDI currently yields 0.78% against 0.98% for SPY.
Holdings Overlap
91.6% of RJDI's money is in holdings SPY also owns. 24.9% of SPY's money is in holdings RJDI also owns.
Most of RJDI is already inside SPY. Owning both mostly buys the same companies twice.
33 positions in common, counted across the 36 positions we hold weights for in RJDI and 504 in SPY, against full books of 74 and 1,515.
What only one of them owns
Our book lists 464 positions for SPY that do not appear in our book for RJDI (74.3% of the fund), and 3 for RJDI that do not appear in SPY (8.3%).
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 RJDI | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 4.14% | 7.45% | 3.31% |
| AVGOBroadcom Inc | 6.85% | 2.48% | 4.37% |
| MSFTMicrosoft Corp | 3.56% | 5.71% | 2.15% |
| JPMJpmorgan Chase | 4.35% | 1.43% | 2.92% |
| ADIAnalog Devices, Inc. | 4.53% | 0.27% | 4.26% |
| WMTWalmart, Inc. | 3.91% | 0.73% | 3.18% |
| ABBVAbbvie Inc. | 3.54% | 0.70% | 2.84% |
| JCIJohnson Controls Intl Plc | 4.01% | 0.13% | 3.88% |
| WELLWelltower, Inc. | 3.81% | 0.25% | 3.56% |
| JNJJohnson & Johnson - Common | 2.94% | 0.98% | 1.96% |
91.6% of RJDI 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, RJDI or SPY?
RJDI has an expense ratio of 0.63% while SPY charges 0.09%. SPY is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, RJDI or SPY?
Over the past year RJDI returned +19.44% vs +18.61% for SPY, so RJDI leads on 1-year performance. Over the longest common window we track (1 years), RJDI annualized +17.60% vs +16.97% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RJDI or SPY?
RJDI has been the more volatile fund at 13.3% annualized versus 13.2% for SPY. Worst drawdown: RJDI -7.0% vs SPY -8.9%.
Should I hold both RJDI and SPY?
RJDI and SPY have a monthly-return correlation of 0.55, 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 RJDI and SPY?
91.6% of RJDI's money is in holdings SPY also owns. 24.9% of SPY's is in holdings RJDI also owns. They hold 33 positions in common, counted across the 36 positions we hold weights for in RJDI and 504 in SPY.
Which pays a higher dividend, RJDI or SPY?
RJDI yields 0.78% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RJDI?
SPY has a lower expense ratio. RJDI led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 42.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.