SPY vs WDEF
State Street SPDR S&P 500 ETF Trust vs WisdomTree Europe Defense Fund ETF
Which is better, SPY or WDEF?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y 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 | SPY | WDEF |
|---|---|---|
| Expense Ratio | 0.09%Best | 0.45% |
| AUM | $823.2B | $78M |
| Dividend Yield | 0.99% | 0.07% |
| Holdings | 1,515 | 98 |
| YTD Return | +13.53%Best | -8.51% |
| 1Y Return | +17.47%Best | -13.72% |
| 3Y Return (annualized) | +22.36% | - |
| 5Y Return (annualized) | +13.21% | - |
| Volatility (annualized) | 11.9%Best | 31.0% |
| Max Drawdown | -8.9%Best | -23.9% |
| $10,000 over 1.2 years | $12,328Best | $9,115 |
| Fund Family | State Street Investment Management | WisdomTree Investments |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 22, 1993 | Jul 17, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 14, 2026 (1.2 years).
SPY vs WDEF 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 1.2 years both funds cover.
SPY vs WDEF Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and WisdomTree Europe Defense Fund ETF (WDEF) is an ETF from WisdomTree Investments. Over the past year SPY returned +17.47% while WDEF returned -13.72%. Year to date, SPY is up 13.53% versus a loss of 8.51% for WDEF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
WDEF has been the more volatile fund, with annualized monthly volatility of 31.0% compared with 11.9% 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 -8.9% for SPY and -23.9% for WDEF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.23. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while WDEF charges 0.45%. On a $10,000 position that is $9 vs $45 annually, a gap of $36 per year that compounds over a long holding period. On income, SPY currently yields 0.99% against 0.07% for WDEF.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 41 in WDEF, totalling 99.8% and 89.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 504 positions we hold weights for in SPY and 41 in WDEF, against full books of 1,515 and 98.
You are not choosing between two funds in isolation.
Whichever of SPY and WDEF 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, SPY or WDEF?
SPY has an expense ratio of 0.09% while WDEF charges 0.45%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, SPY or WDEF?
Over the past year SPY returned +17.47% vs -13.72% for WDEF, so SPY leads on 1-year performance. Over the longest common window we track (1 years), SPY annualized +19.05% vs -7.43% for WDEF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or WDEF?
WDEF has been the more volatile fund at 31.0% annualized versus 11.9% for SPY. Worst drawdown: SPY -8.9% vs WDEF -23.9%.
Should I hold both SPY and WDEF?
SPY and WDEF have a monthly-return correlation of 0.23, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, SPY or WDEF?
SPY yields 0.99% while WDEF yields 0.07%, so SPY currently pays the higher dividend yield.
Is WDEF better than SPY?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.