Data as of Oct 28, 2026.
SPY vs XLU: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPY returned +13.6% to XLU's −3.0%; 2% of their weight is in the same names.
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Net assets on Oct 27, 2026: $814.8bn for SPDR S&P 500 ETF Trust and $23.9bn for State Street Utilities Select Sector SPDR ETF.
Pair scorecard
XLU costs 0.01 points a year less; their one-year returns differ by 16.6 points; SPY is far larger, $814.8bn against $23.9bn.
| Measure | SPY | XLU |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.6% | −3.0% |
| Drawdown | ||
| Below its high | 9.1%, high on Feb 27, 2026 | |
| Benchmark | ||
| What it tracks | S&P 500 Index | Utilities Select Sector Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.08% |
| Net assets, as of Oct 27, 2026 | $814.8bn | $23.9bn |
| Holdings | ||
| Holdings in common | 2% | |
| Top ten holdings, share of the fund | 38.1% | 58.7% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Dec 31, 1998 to Oct 23, 2026 · 1,451 weekly returnsSPY returned more: +897.4% to +640.5%. SPY swung slightly less: 17.7% to 18.1%. XLU fell less at its worst: −48.3% to −54.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPY | XLU | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +897.4% | +640.5% | SPY | Price change plus distributions, reinvested. |
| Annualized | +8.6% | +7.4% | SPY | Total return as a yearly rate. |
| Price return | +516.3% | +181.6% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.7% | 18.1% | SPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.6% | 12.8% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.6% | −48.3% | XLU | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.46 | 0.39 | SPY | Return above Treasury bills per unit of volatility. |
| Sortino | 0.64 | 0.55 | SPY | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.15 | SPY (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,451 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPY and XLU hold 2% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
2% in common
Only in one fund ↓
Side by side
SPY and XLU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPY and XLU do different jobs. What does each one do in a portfolio?
- What each follows. SPY follows S&P 500 Index and XLU follows Utilities Select Sector Index.
- Holdings in common. 2% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 SPY returned +13.6% and XLU −3.0% with distributions reinvested, a gap of 16.6 points.
Data as of Oct 28, 2026.
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SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
XLU
XLU tracks an index of Utilities. Over the year to Oct 28, 2026 it returned −3.0% with distributions reinvested. The prospectus expense ratio is 0.08% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 32 positions, with the top ten at 58.7%. It sat 9.1% below its high of Feb 27, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, SPY or XLU?
- In the year to Oct 28, 2026, with distributions reinvested, SPY returned +13.6% and XLU −3.0%.
- Which is cheaper, SPY or XLU?
- XLU is cheaper, by 0.01 percentage points a year. That is about $1 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SPY against XLU, data as of Oct 28, 2026. https://etfiq.com/compare/any/spy-vs-xlu
ETFIQ. (Oct 28, 2026). SPY against XLU. Retrieved from https://etfiq.com/compare/any/spy-vs-xlu
[SPY against XLU (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spy-vs-xlu)
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