SPXE vs SPYV: Grades, Fees and Holdings Compared

ProShares S&P 500 Ex-Energy ETF

SPXEBNYSE Arca

State Street SPDR Portfolio S&P 500 Value ETF

SPYVANYSE Arca

Overlap

58.4%by weight

Expense ratio

SPYV −0.05pt a year

SPXE0.09%SPYV0.04%

Avg volume · 30D

SPYV 2169.1×the volume

SPXE970SPYV2.1M

10Y return · a year

SPXE +3.1pt

SPXE+15.4%SPYV+12.3%

SPXE vs SPYV Performance

Oct 29, 2021 – Oct 30, 2026

+72.7%SPXE+74.1%SPYV

Expense ratio: SPXE 0.09%; SPYV 0.04%, better
Fund size: SPXE $85M; SPYV $39.2B
1Y total return: SPXE +10.6%; SPYV +16.6%, better
Yield (12M): SPXE 0.92%; SPYV 1.65%, better
Holdings: SPXE 482; SPYV 437
Avg volume (30D): SPXE 970 sh; SPYV 2.1M sh, better
NAV per share: SPXE $80.91; SPYV $64.64
52W range

ETF.net Grade

Pillar letters and Scores for SPXE, SPYV, with each pillar’s weight
Pillar	SPXE	SPYV
Cost30% weight	A79	A98Higher
Mission25% weight	A100Higher	A86
Risk15% weight	B63	A82Higher
Tradability15% weight	D25	A97Higher
Holdings10% weight	C46	A71Higher
Durability5% weight	C52	A86Higher

Rank among Other Major Indexes funds

How we build Categories ›

Same Category. SPXE and SPYV are both graded against the same 42 Other Major Indexes funds, so their Grades compare head to head.

Other Major Indexes⁠

Category · 42 funds

See all 42 ›

SPYV ranks 1st and SPXE 11th of 42 funds in the Other Major Indexes Category.

Rank 1ASPYVState Street SPDR Portfolio S&P 500 Value ETFScore 89
Rank 2ASCHKSchwab 1000 Index ETFScore 86
Rank 10AIVOGVanguard S&P Mid-Cap 400 Growth ETFScore 70
Rank 11BSPXEProShares S&P 500 Ex-Energy ETFScore 69
Rank 12BFINAFidelity MSCI North American Subset Index ETFScore 68

Our read on each fund

ETF.net Research

SPXEBProShares S&P 500 Ex-Energy ETF

SPYVAState Street SPDR Portfolio S&P 500 Value ETF

In short

SPXE The S&P 500 with the oil and gas names lifted out. Same roughly 500-stock large-cap core, one sector missing, at a fee far below what its index-fund peer group typically charges.

SPYV The value side of the S&P 500, tracked since 2000 for four basis points. It does one thing: hold the index names that screen cheap, and charge close to nothing for the privilege.

Stated mandate

SPXE SPXE is intended to provide exposure to the S&P 500 while excluding companies classified in the energy sector.

SPYV The fund seeks to track, before fees and expenses, the total return of the S&P 500 Value Index.

Why people hold it

SPXE Charges 0.09% a year, a fraction of the 0.45% median for funds in its index-tracking peer group.
One surgical edit, not a rebuild: it holds the S&P 500 and leaves out companies classified in the energy sector. Sector weights and mega-cap shape otherwise stay familiar.
Tracks the S&P 500 Ex-Energy Index very closely, one of the tighter index implementations in its peer group.
Running the same ex-energy mandate since 2015, with distributions paid quarterly.

SPYV 0.04% a year. VOOV tracks the identical S&P 500 Value Index and charges 0.07%, so this is the same exposure at a lower fee.
Trading since 2000 and now a multi-billion-dollar fund that changes hands actively, so the plumbing is well worn.
No stock picking, no factor secret sauce: it aims to match the S&P 500 Value Index before fees, and it is one of the cleaner implementations in its peer group.ssga.com

Worth knowing

SPXE Thinly traded for its category. Spreads matter more here than with the household-name S&P 500 trackers, so limit orders are the sane default.
A small fund next to the giant index products, which is worth knowing before sizing a large position.
Dropping a whole sector means returns move away from the full S&P 500 in both directions, and you give up energy's dividends and its inflation-hedge role.

SPYV This is one style slice, roughly 400 value-screened names, not the whole S&P 500. It will move differently from the full index.
Value goes through long stretches in and out of favor. The fund follows the index rules either way, with no manager stepping in.
Distributions land quarterly, not monthly.

Full SPXE profile⁠

Full SPYV profile⁠

SPXE vs SPYV Holdings

How SPXE and SPYV differ

Overlap by weight

58.4%

Shared holdings make up 91.7% of SPYV and 61.1% of SPXE.

Level by level

Holdings412 in both58.4%
Sector11 Sectors71.1%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in SPXE and SPYV, widest gap first
Sector	More in SPXEMore in SPYV	SPXE	SPYV
Technology	SPXE +21.1 points	41.9%	20.8%
Energy	SPYV +8.2 points	0.0%	8.2%
Communication	SPXE +7.8 points	10.3%	2.5%
Consumer Staples	SPYV +4.5 points	4.5%	9.0%
Health Care	SPYV +3.7 points	9.6%	13.3%
Financials	SPYV +3.6 points	11.6%	15.2%
Industrials	SPYV +3.0 points	7.8%	10.8%
Utilities	SPYV +2.1 points	1.9%	4.0%
Materials	SPYV +1.7 points	1.6%	3.3%
Real Estate	SPYV +1.3 points	1.8%	3.1%
Consumer Discretionary	SPYV +0.8 points	9.0%	9.8%

Country, concentration and asset class

Country by domicile

Country weights in SPXE and SPYV, widest gap first
Country	More in SPXEMore in SPYV	SPXE	SPYV
United States	SPXE +0.3 points	99.5%	99.2%
Switzerland	SPYV +0.3 points	0.3%	0.6%
China	Same weight	0.1%	0.1%
Ireland	SPYV +0.1 points	0.0%	0.1%
United Kingdom	SPYV +0.1 points	0.0%	0.1%
Mexico	SPXE +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

SPXE38.7%
SPYV24.4%

Securities held

SPXE481
SPYV435

Asset class

SPXE: Equity
SPYV: Equity

Holdings

Only in SPXE69
In both412
Only in SPYV23

Only in SPXE

69 securities, 38.7% of SPXE by weight

NVIDIA Corp7.88%
Microsoft Corp6.17%
Alphabet Inc-Cl A2.61%
Broadcom Inc2.47%
Meta Platforms Inc-Class A2.16%
Alphabet Inc-Cl C2.10%
Eli Lilly & Co1.81%
Berkshire Hathaway Inc-Cl B1.61%
Micron Technology Inc1.59%
Advanced Micro Devices1.31%
Palantir Technologies Inc-A0.67%
Applied Materials Inc0.49%
Lam Research Corp0.48%
Caterpillar Inc0.46%
Rtx Corp0.43%
Netflix Inc0.41%
Crowdstrike Holdings Inc - A0.41%
Ge Vernova Inc0.36%
Kla Corp0.33%
Amphenol Corp-Cl A0.31%
Arista Networks Inc0.28%
Welltower Inc0.27%
Sandisk Corp0.27%
Intuitive Surgical Inc0.24%
Uber Technologies Inc0.21%
Newmont Corp0.18%
Booking Holdings Inc0.18%
Quanta Services Inc0.15%
Vertiv Holdings Co-A0.14%
Marriott International -Cl A0.14%
Hilton Worldwide Holdings In0.13%
Howmet Aerospace Inc0.13%
Datadog Inc - Class A0.13%
Royal Caribbean Cruises Ltd0.12%
Lumentum Holdings Inc0.12%
O'reilly Automotive Inc0.11%
Hca Healthcare Inc0.11%
Monster Beverage Corp0.11%
Doordash Inc - A0.11%
Robinhood Markets Inc - A0.11%
Transdigm Group Inc0.10%
Applovin Corp-Class A0.10%
Bloom Energy Corp- A0.10%
Monolithic Power Systems Inc0.09%
Ciena Corp0.07%
Comfort Systems Usa Inc0.07%
Vistra Corp0.07%
Idexx Laboratories Inc0.07%
Everpure Inc-A0.07%
Coherent Corp0.07%

Only in SPYV

23 securities, 8.3% of SPYV by weight

Exxonmobil Holdings Corp2.46%
Chevron Corp1.49%
Conocophillips0.59%
Marathon Petroleum Corp0.40%
Valero Energy Corp0.36%
Phillips 660.36%
Williams Cos Inc0.30%
Eog Resources Inc0.28%
Slb Ltd0.26%
Targa Resources Corp0.22%
Kinder Morgan Inc0.22%
Oneok Inc0.20%
Devon Energy Corp0.18%
Baker Hughes Co0.18%
Occidental Petroleum Corp0.15%
Diamondback Energy Inc0.14%
Kenvue Inc0.12%
Eqt Corp0.11%
Halliburton Co0.10%
Expand Energy Corp0.07%
Texas Pacific Land Corp0.06%
Apa Corp0.06%
Contra Hologic Incorpo0.00%

Weight gaps

The 100 widest of 412 Holdings in both funds.

Holding weights in SPXE and SPYV, widest gap first
Holding	More in SPXEMore in SPYV	SPXE	SPYV
Intel CorpINTC	SPYV +0.97 points	0.52%	1.49%
Walmart IncWMT	SPYV +0.88 points	0.88%	1.76%
Costco Wholesale CorpCOST	SPYV +0.72 points	0.71%	1.44%
UnitedHealth Group IncUNH	SPYV +0.62 points	0.58%	1.20%
Procter & Gamble Co/ThePG	SPYV +0.62 points	0.60%	1.22%
Merck & Co. Inc.MRK	SPYV +0.59 points	0.59%	1.18%
Bank of America CorpBAC	SPYV +0.56 points	0.52%	1.08%
Home Depot IncHD	SPYV +0.55 points	0.52%	1.07%
Texas Instruments IncTXN	SPYV +0.49 points	0.44%	0.93%
JPMorgan Chase & CoJPM	SPXE +0.48 points	1.43%	0.95%
Thermo Fisher Scientific IncTMO	SPYV +0.44 points	0.41%	0.85%
Wells Fargo & CoWFC	SPYV +0.44 points	0.40%	0.84%
Tesla IncTSLA	SPXE +0.38 points	1.79%	1.41%
Linde PLCLIN	SPYV +0.38 points	0.38%	0.76%
Qualcomm IncQCOM	SPYV +0.37 points	0.28%	0.65%
Analog Devices IncADI	SPYV +0.37 points	0.32%	0.69%
Citigroup IncC	SPYV +0.36 points	0.33%	0.69%
Walt Disney Co/TheDIS	SPYV +0.32 points	0.30%	0.62%
Salesforce IncCRM	SPYV +0.32 points	0.30%	0.62%
Union Pacific CorpUNP	SPYV +0.29 points	0.29%	0.58%
Abbott LaboratoriesABT	SPYV +0.30 points	0.29%	0.59%
Pepsico IncPEP	SPYV +0.29 points	0.30%	0.59%
Verizon Communications IncVZ	SPYV +0.29 points	0.30%	0.59%
Apple IncAAPL	SPYV +0.30 points	8.00%	8.30%
BlackRock IncBLK	SPYV +0.29 points	0.26%	0.55%
Nextera Energy IncNEE	SPYV +0.28 points	0.28%	0.56%
Pfizer IncPFE	SPYV +0.28 points	0.28%	0.56%
Deere & CoDE	SPYV +0.27 points	0.27%	0.54%
Eaton Corp PLCETN	SPYV +0.27 points	0.23%	0.50%
Mastercard Inc - AMA	SPXE +0.27 points	0.82%	0.55%
Dell Technologies -CDELL	SPYV +0.27 points	0.20%	0.47%
Western Digital CorpWDC	SPYV +0.25 points	0.21%	0.46%
Danaher CorpDHR	SPYV +0.25 points	0.23%	0.48%
Schwab (Charles) CorpSCHW	SPYV +0.24 points	0.23%	0.47%
Accenture Plc-Cl AACN	SPYV +0.24 points	0.25%	0.49%
AT&T IncT	SPYV +0.24 points	0.23%	0.47%
Lockheed Martin CorpLMT	SPYV +0.22 points	0.21%	0.43%
Vertex Pharmaceuticals IncVRTX	SPYV +0.22 points	0.23%	0.45%
Capital One Financial CorpCOF	SPYV +0.22 points	0.20%	0.42%
Chubb LtdCB	SPYV +0.21 points	0.20%	0.41%
Altria Group IncMO	SPYV +0.21 points	0.21%	0.42%
Bristol-Myers Squibb CoBMY	SPYV +0.21 points	0.20%	0.41%
Starbucks CorpSBUX	SPYV +0.20 points	0.19%	0.39%
Prologis IncPLD	SPYV +0.21 points	0.19%	0.40%
Cvs Health CorpCVS	SPYV +0.20 points	0.18%	0.38%
Lowe's Cos IncLOW	SPYV +0.19 points	0.19%	0.38%
Medtronic PLCMDT	SPYV +0.19 points	0.20%	0.39%
Mckesson CorpMCK	SPYV +0.18 points	0.18%	0.37%
Automatic Data ProcessingADP	SPYV +0.18 points	0.19%	0.37%
Southern Co/TheSO	SPYV +0.18 points	0.17%	0.35%
Equinix IncEQIX	SPYV +0.17 points	0.16%	0.33%
Freeport-Mcmoran IncFCX	SPYV +0.17 points	0.14%	0.31%
Emerson Electric CoEMR	SPYV +0.16 points	0.15%	0.31%
Synopsys IncSNPS	SPYV +0.17 points	0.14%	0.31%
Adobe IncADBE	SPYV +0.16 points	0.16%	0.32%
Csx CorpCSX	SPYV +0.17 points	0.15%	0.32%
Duke Energy CorpDUK	SPYV +0.16 points	0.16%	0.32%
Johnson & JohnsonJNJ	SPXE +0.16 points	1.05%	0.89%
Us BancorpUSB	SPYV +0.16 points	0.15%	0.31%
Pnc Financial Services GroupPNC	SPYV +0.16 points	0.14%	0.30%
3M CoMMM	SPYV +0.16 points	0.14%	0.30%
Blackstone IncBX	SPYV +0.15 points	0.14%	0.29%
Marsh & Mclennan CosMRSH	SPYV +0.16 points	0.15%	0.31%
Elevance Health IncELV	SPYV +0.16 points	0.14%	0.30%
Intercontinental Exchange InICE	SPYV +0.15 points	0.15%	0.30%
American Tower CorpAMT	SPYV +0.14 points	0.14%	0.28%
Waste Management IncWM	SPYV +0.14 points	0.14%	0.28%
Amgen IncAMGN	SPXE +0.14 points	0.40%	0.26%
Travelers Cos Inc/TheTRV	SPYV +0.14 points	0.13%	0.27%
Moderna IncMRNA	SPYV +0.14 points	0.13%	0.27%
Hewlett Packard EnterpriseHPE	SPYV +0.13 points	0.12%	0.25%
Motorola Solutions IncMSI	SPYV +0.14 points	0.13%	0.27%
United Parcel Service-Cl BUPS	SPYV +0.13 points	0.13%	0.26%
The Cigna GroupCI	SPYV +0.13 points	0.13%	0.26%
Mondelez International Inc-AMDLZ	SPYV +0.13 points	0.13%	0.26%
Norfolk Southern CorpNSC	SPYV +0.13 points	0.12%	0.25%
Comcast Corp-Class ACMCSA	SPYV +0.13 points	0.13%	0.26%
Ecolab IncECL	SPYV +0.13 points	0.12%	0.25%
Northrop Grumman CorpNOC	SPYV +0.12 points	0.12%	0.24%
Sherwin-Williams Co/TheSHW	SPYV +0.13 points	0.12%	0.25%
Cintas CorpCTAS	SPYV +0.12 points	0.12%	0.24%
Illinois Tool WorksITW	SPYV +0.13 points	0.11%	0.24%
General Motors CoGM	SPYV +0.12 points	0.12%	0.24%
Colgate-Palmolive CoCL	SPYV +0.12 points	0.12%	0.24%
Honeywell International IncHON	SPYV +0.12 points	0.11%	0.23%
American Electric PowerAEP	SPYV +0.12 points	0.11%	0.23%
Regeneron PharmaceuticalsREGN	SPYV +0.11 points	0.15%	0.26%
Nxp Semiconductors NVNXPI	SPYV +0.12 points	0.10%	0.22%
Air Products & Chemicals IncAPD	SPYV +0.12 points	0.11%	0.23%
Aon Plc-Class AAON	SPYV +0.11 points	0.11%	0.22%
Target CorpTGT	SPYV +0.11 points	0.11%	0.22%
T-Mobile Us IncTMUS	SPYV +0.11 points	0.12%	0.23%
Arthur J Gallagher & CoAJG	SPYV +0.11 points	0.11%	0.22%
Fedex CorpFDX	SPYV +0.11 points	0.11%	0.22%
Digital Realty Trust IncDLR	SPYV +0.11 points	0.10%	0.21%
Goldman Sachs Group IncGS	SPXE +0.10 points	0.41%	0.31%
Allstate CorpALL	SPYV +0.11 points	0.10%	0.21%
Cencora IncCOR	SPYV +0.11 points	0.10%	0.21%
Nucor CorpNUE	SPYV +0.10 points	0.10%	0.20%
Fastenal CoFAST	SPYV +0.11 points	0.09%	0.20%

All 484 SPXE holdings⁠All 435 SPYV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SPXE vs SPYV Cost

Overpaying SPXE vs SPYV

$1,049

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SPXE 0.09%
$1,898
SPYV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

SPXE 0.09%
SPYV 0.04%
Overpaying

Year by year

Year	SPXE	SPYV	Overpaying
10	$165	$73	$92
20	$646	$288	$358
30	$1,898	$849	$1,049

Expense ratio

0.09%SPXE
0.04%SPYV, cheaper

SPYV0.04%SPXE0.09%

0.03%0.75%

Middle half of Other Major Indexes funds
Median 0.29%

SPYV 2nd cheapest of 42 funds

SPXE 7th cheapest of 42 funds

SPXE vs SPYV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPXE 0.92%; SPYV 1.65%, better
Payout (12M): SPXE $0.74; SPYV $1.06
Last payment: SPXE $0.18; SPYV $0.27
Ex-dividend: SPXE Sep 23, 2026; SPYV Sep 21, 2026
Paid on: SPXE Sep 29, 2026; SPYV Sep 23, 2026
Frequency: SPXE Quarterly; SPYV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPXEQuarterly · 39 paymentsAll SPXE payments⁠

SPYVQuarterly · 39 paymentsAll SPYV payments⁠

SPXE vs SPYV Risk

Fall from peak · 5 years

SPXE
SPYV

Risk facts

VolatilityStd dev, 3 years: SPXE 12.9%SPYV 11.7%, better
Return per unit of riskSharpe ratio, 3 years: SPXE 1.37, betterSPYV 1.17
Worst fallMax drawdown, 5 years: SPXE −26.5%SPYV −17.9%, better
Market sensitivityBeta, 5 years: SPXE 1.03SPYV 0.83; Market = 1

SPXE and SPYV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026SPYV
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026SPYV

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SPXE vs SPYV

In short

Stated mandate

Why people hold it

Worth knowing

How SPXE and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPXE

Only in SPYV

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list

The best value ETF depends on whose list you bought

How SPXE and SPYV differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SPXE

Only in SPYV

Weight gaps