SSPY vs XLF
Stratified LargeCap Index ETF vs State Street Financial Select Sector SPDR ETF
Which is better, SSPY or XLF?
Each has led over a different period.
XLF has a lower expense ratio. SSPY led over 1Y, 5Y and the full window, XLF over 3Y. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 57.3%.
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 | SSPY | XLF |
|---|---|---|
| Expense Ratio | 0.45% | 0.08%Best |
| AUM | $129M | $51.9B |
| Dividend Yield | 1.25% | 1.40% |
| Holdings | 1,013 | 160 |
| YTD Return | +12.63%Best | +0.47% |
| 1Y Return | +15.52%Best | +4.02% |
| 3Y Return (annualized) | +15.71% | +19.43%Best |
| 5Y Return (annualized) | +8.93%Best | +8.82% |
| Volatility (annualized) | 16.9%Best | 20.3% |
| Max Drawdown | -36.7%Best | -43.3% |
| $10,000 over 5 years | $15,337Best | $15,260 |
| Top 10 Weight | 8.9%Best | 57.3% |
| Fund Family | Syntax Stratified | SPDR State Street Global Advisors |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jan 2, 2019 | Dec 16, 1998 |
Volatility and max drawdown are measured over the window both funds cover: Jan 4, 2019 to Oct 14, 2026 (7.8 years).
SSPY vs XLF 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 7.8 years both funds cover.
SSPY vs XLF Performance
Stratified LargeCap Index ETF (SSPY) is an ETF from Syntax Stratified and State Street Financial Select Sector SPDR ETF (XLF) is an ETF from SPDR State Street Global Advisors. Over the past year SSPY returned +15.52% while XLF returned +4.02%. Year to date, SSPY is up 12.63% versus a gain of 0.47% for XLF.
Over three years, SSPY compounded at +15.71% per year against +19.43% for XLF; over five years the annualized figures are +8.93% and +8.82% respectively. Across the full 8-year window we track, SSPY has the edge at +13.36% annualized vs +12.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
XLF has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 16.9% for SSPY. 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 -36.7% for SSPY and -43.3% for XLF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SSPY charges 0.45% per year while XLF charges 0.08%. On a $10,000 position that is $45 vs $8 annually, a gap of $37 per year that compounds over a long holding period. On income, SSPY currently yields 1.25% against 1.40% for XLF.
Holdings Overlap
10.4% of SSPY's money is in holdings XLF also owns. 97.6% of XLF's money is in holdings SSPY also owns.
Most of XLF is already inside SSPY. Owning both mostly buys the same companies twice.
73 positions in common, counted across the 504 positions we hold weights for in SSPY and 77 in XLF, against full books of 1,013 and 160.
What only one of them owns
Our book lists 4 positions for XLF that do not appear in our book for SSPY (2.2% of the fund), and 424 for SSPY that do not appear in XLF (88.0%).
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 SSPY | Weight in XLF | Difference |
|---|---|---|---|
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 0.53% | 11.59% | 11.06% |
| JPMJpmorgan Chase | 0.15% | 11.82% | 11.67% |
| VVisa Inc Class A | 0.05% | 7.62% | 7.57% |
| MAMastercard Inc | 0.05% | 5.69% | 5.64% |
| BACBank Of America Corp | 0.16% | 5.07% | 4.91% |
| GSGoldman Sachs Group Inc/The | 0.25% | 3.76% | 3.51% |
| WFCWells Fargo & Co. | 0.14% | 3.42% | 3.28% |
| MSMorgan Stanley | 0.26% | 3.18% | 2.92% |
| CCitigroup Inc. | 0.13% | 2.93% | 2.80% |
| COFCapital One Financial Corp. | 1.15% | 1.61% | 0.46% |
97.6% of XLF is already inside SSPY.
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, SSPY or XLF?
SSPY has an expense ratio of 0.45% while XLF charges 0.08%. XLF is the cheaper option, by $37 a year on a $10,000 investment.
Which performed better, SSPY or XLF?
Over the past year SSPY returned +15.52% vs +4.02% for XLF, so SSPY leads on 1-year performance. Over the longest common window we track (8 years), SSPY annualized +13.36% vs +12.39% for XLF. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SSPY or XLF?
XLF has been the more volatile fund at 20.3% annualized versus 16.9% for SSPY. Worst drawdown: SSPY -36.7% vs XLF -43.3%.
Should I hold both SSPY and XLF?
SSPY and XLF have a monthly-return correlation of 0.89, 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 SSPY and XLF?
97.6% of XLF's money is in holdings SSPY also owns. 97.6% of XLF's is in holdings SSPY also owns. They hold 73 positions in common, counted across the 504 positions we hold weights for in SSPY and 77 in XLF.
Which pays a higher dividend, SSPY or XLF?
SSPY yields 1.25% while XLF yields 1.40%, so XLF currently pays the higher dividend yield.
Is XLF better than SSPY?
XLF has a lower expense ratio. SSPY led over 1Y, 5Y and the full window, XLF over 3Y. SSPY is less concentrated, with 8.9% of the fund in its ten largest positions against 57.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.