SPYX vs USPX: Grades, Fees and Holdings Compared

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF

SPYXCNYSE Arca

Franklin U.S. Equity Index ETF

USPXANYSE Arca

Overlap

91.6%by weight

Expense ratio

USPX −0.17pt a year

SPYX0.20%USPX0.03%

Avg volume · 30D

SPYX 1.1×the volume

SPYX74.7KUSPX67.3K

10Y return · a year

SPYX +2.9pt

SPYX+15.3%USPX+12.4%

SPYX vs USPX Performance

Oct 29, 2021 – Oct 30, 2026

+72.9%SPYX+76.3%USPX

Expense ratio: SPYX 0.20%; USPX 0.03%, better
Fund size: SPYX $2.84B; USPX $2.04B
1Y total return: SPYX +11.0%; USPX +11.2%, better
Yield (12M): SPYX 0.86%; USPX 1.04%, better
Holdings: SPYX 489; USPX 470
Avg volume (30D): SPYX 74.7K sh, better; USPX 67.3K sh
NAV per share: SPYX $62.96; USPX $66.00
52W range

ETF.net Grade

Pillar letters and Scores for SPYX, USPX, with each pillar’s weight
Pillar	SPYX	USPX
Cost30% weight	F17	A84Higher
Mission25% weight	A100Higher	A98
Risk15% weight	C40	C41Higher
Tradability15% weight	A71Higher	C50
Holdings10% weight	C40	B61Higher
Durability5% weight	B63Higher	B61

Rank among S&P 500 funds

How we build Categories ›

Same Category. SPYX and USPX are both graded against the same 14 S&P 500 funds, so their Grades compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

USPX ranks 4th and SPYX 10th of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 3AVOOVanguard S&P 500 ETFScore 74
Rank 4AUSPXFranklin U.S. Equity Index ETFScore 72
Rank 5ASPYState Street SPDR S&P 500 ETFScore 70
Rank 9BTOPCiShares S&P 500 3% Capped ETFScore 55
Rank 10CSPYXState Street SPDR S&P 500 Fossil Fuel Reserves Free ETFScore 53
Rank 11CXDIVRoundhill S&P 500 No Dividend Target ETFScore 51

Our read on each fund

ETF.net Research

SPYXCState Street SPDR S&P 500 Fossil Fuel Reserves Free ETF

USPXAFranklin U.S. Equity Index ETF

In short

SPYX One rule separates SPYX from a plain S&P 500 tracker: companies that own oil, gas or thermal coal reserves get cut. Everything else stays, cap-weighted, the way State Street has run it since 2015.

USPX The odd one out in the S&P 500 aisle. Franklin's fund tracks a Morningstar large-cap benchmark instead, for three basis points. Same big-US-stocks job, different scorecard, and a fee that undercuts most of the peer group.

Stated mandate

SPYX The fund seeks to track the total return of the S&P 500 Fossil Fuel Reserves Free Index before fees and expenses. The strategy excludes companies that own fossil fuel reserves while retaining a U.S. large-cap core orientation.

USPX The fund seeks to provide U.S. equity exposure through an index-based strategy.

Why people hold it

SPYX A subtraction, not a rebuild. It keeps a cap-weighted US large-cap core of roughly 500 names and applies one screen, rather than re-scoring every company on broad ESG criteria.
The screen is mechanical, not editorial: the index provider defines reserves as economically and technically recoverable crude oil, natural gas and thermal coal.spglobal.com
Running since 2015 and now a multi-billion-dollar fund, it is an early entrant in fossil-fuel-free S&P 500 investing, not a recent launch chasing a theme. Pays quarterly.

USPX 0.03% a year, a fraction of the roughly 0.15% typical in its peer group and level with the fee on VOO and IVV.
Sticks close to its Morningstar US Target Market Exposure Index, one of the tighter index-following records among the S&P 500 wrappers it sits beside.
Rules-based cap-weighted US equity, roughly 190 names, no factor tilts or manager picks. Pays quarterly.
Running since 2016 and now a multi-billion-dollar fund, with Franklin Templeton behind it.

Worth knowing

SPYX The screen carries a price: 0.20% a year, above the median for S&P 500 wrappers and several times the cost of core trackers like VOO (0.03%) and SPYM (0.02%).
Cutting reserve owners removes the parent index's oil and gas majors, so results can drift from the standard S&P 500 in either direction.
It screens reserve ownership, not emissions. Companies that burn, move or process fossil fuels without owning reserves can still be held.spglobal.com

USPX Different index, different constituent rules. Holdings and returns can drift from the S&P 500 trackers most people compare it to.
Moderately traded rather than a volume monster like SPY, which can mean wider bid-ask spreads than the biggest names in the category.
Fewer names than the 500-stock benchmarks next door, and cap weighting keeps the largest US companies in the driver's seat.

Full SPYX profile⁠

Full USPX profile⁠

SPYX vs USPX Holdings

How SPYX and USPX differ

Overlap by weight

91.6%

Shared holdings make up 95.8% of SPYX and 92.0% of USPX.

Level by level

Holdings390 in both91.6%
Sector11 Sectors95.5%
Asset classEquity100%
Countryby domicile99.9%

Sector

Sector weights in SPYX and USPX, widest gap first
Sector	More in SPYXMore in USPX	SPYX	USPX
Energy	USPX +2.1 points	1.3%	3.4%
Technology	USPX +1.7 points	38.9%	40.6%
Financials	SPYX +1.2 points	12.4%	11.2%
Health Care	SPYX +1.1 points	10.2%	9.1%
Consumer Staples	SPYX +0.9 points	5.1%	4.2%
Consumer Discretionary	SPYX +0.5 points	9.2%	8.7%
Communication	USPX +0.4 points	9.5%	9.9%
Real Estate	SPYX +0.3 points	1.8%	1.5%
Utilities	SPYX +0.2 points	2.1%	1.9%
Materials	SPYX +0.3 points	1.8%	1.5%
Industrials	USPX +0.2 points	7.8%	8.0%

Country, concentration and asset class

Country by domicile

Country weights in SPYX and USPX, widest gap first
Country	More in SPYXMore in USPX	SPYX	USPX
United States	SPYX +0.1 points	99.5%	99.4%
Switzerland	Same weight	0.3%	0.3%
Brazil	USPX +0.1 points	0.0%	0.1%
China	Same weight	0.1%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SPYX38.7%
USPX37.0%

Securities held

SPYX487
USPX468

Asset class

SPYX: Equity
USPX: Equity

Holdings

Only in SPYX97
In both390
Only in USPX78

Only in SPYX

97 securities, 4.1% of SPYX by weight

Linde PLC0.36%
Eaton Corp PLC0.24%
Accenture PLC Class A0.24%
Chubb Ltd0.20%
Medtronic PLC0.19%
Johnson Controls Internation0.15%
Elevance Health Inc0.14%
Moderna Inc0.13%
Slb Ltd0.12%
Royal Caribbean Cruises Ltd0.12%
Nxp Semiconductors NV0.10%
Crh PLC0.09%
Becton Dickinson and Co0.08%
Vivmark Residential0.07%
Block Inc0.06%
Kenvue Inc0.06%
Carnival Corp Ltd0.06%
Cboe Global Markets Inc0.05%
Williams Sonoma Inc0.05%
Willis Towers Watson PLC0.05%
Fiserv Inc0.04%
Qnity Electronics Inc0.04%
Casey’s General Stores Inc0.04%
Tapestry Inc0.04%
Smurfit Westrock PLC0.03%
Viatris Inc0.03%
Skyworks Solutions Inc0.03%
Best Buy Co Inc0.03%
Revvity Inc0.03%
Charles River Laboratories0.03%
Zebra Technologies Corp Class A0.03%
Idex Corp0.03%
Cf Industries Holdings Inc0.03%
Nordson Corp0.03%
Ball Corp0.03%
Lyondellbasell Indu Class A0.03%
Host Hotels & Resorts Inc0.03%
Allegion PLC0.03%
Stanley Black & Decker Inc0.02%
Ralph Lauren Corp0.02%
Bunge Global SA0.02%
Hasbro Inc0.02%
Gen Digital Inc0.02%
C.h. Robinson Worldwide Inc0.02%
Assurant Inc0.02%
Akamai Technologies Inc0.02%
Everest Group Ltd0.02%
Gartner Inc0.02%
Avery Dennison Corp0.02%
Jm Smucker Co/The0.02%

Only in USPX

78 securities, 7.8% of USPX by weight

Exxonmobil Holdings Corp1.17%
Chevron Corp0.67%
Space Exploration Techn-C0.41%
Linde PLC0.36%
Ge Vernova Inc0.35%
Conocophillips0.28%
Sandisk Corp0.26%
Accenture Plc-Cl A0.24%
Eaton Corp PLC0.22%
Chubb Ltd0.20%
Medtronic PLC0.19%
Snowflake Inc0.16%
Elevance Health Inc0.14%
Johnson Controls Internat0.14%
Cloudflare Inc - Class A0.14%
Eog Resources Inc0.14%
Slb Ltd0.12%
Royal Caribbean Cruises L0.12%
Mercadolibre Inc0.12%
Cheniere Energy Inc0.10%
Nxp Semiconductors NV0.09%
Crh PLC0.09%
Bloom Energy Corp- A0.09%
Devon Energy Corp0.09%
Becton Dickinson and Co0.08%
Occidental Petroleum Corp0.07%
Strategy Inc0.07%
Astera Labs Inc0.06%
Block Inc0.06%
Everpure Inc-A0.06%
Diamondback Energy Inc0.06%
Illumina Inc0.06%
Carnival Corp Ltd0.06%
Sunbelt Rentals Holdings0.05%
Eqt Corp0.05%
Willis Towers Watson PLC0.05%
Rocket Lab Corp0.04%
Twilio Inc - A0.04%
Roblox Corp -Class A0.04%
Mongodb Inc0.04%
Fiserv Inc0.04%
Royalty Pharma Plc- Class A0.04%
Insmed Inc0.04%
Entegris Inc0.04%
Credo Technology Group Ho0.04%
Zscaler Inc0.04%
Smurfit Westrock PLC0.04%
Alnylam Pharmaceuticals I0.04%
Zoom Communications Inc0.03%
Lpl Financial Holdings In0.03%

Weight gaps

The 100 widest of 390 Holdings in both funds.

Holding weights in SPYX and USPX, widest gap first
Holding	More in SPYXMore in USPX	SPYX	USPX
NVIDIA CorpNVDA	SPYX +0.75 points	8.05%	7.30%
Intel CorpINTC	SPYX +0.24 points	0.71%	0.47%
Broadcom IncAVGO	SPYX +0.23 points	2.56%	2.33%
Apple IncAAPL	SPYX +0.22 points	7.93%	7.71%
Microsoft CorpMSFT	SPYX +0.18 points	6.13%	5.95%
Advanced Micro DevicesAMD	SPYX +0.18 points	1.44%	1.26%
Micron Technology IncMU	SPYX +0.11 points	1.64%	1.53%
Amazon.com IncAMZN	SPYX +0.10 points	3.73%	3.63%
Alphabet Inc Class AGOOGL	SPYX +0.08 points	2.59%	2.51%
Palantir Technologies Inc APLTR	SPYX +0.08 points	0.70%	0.62%
Alphabet Inc Class CGOOG	SPYX +0.07 points	2.09%	2.02%
Meta Platforms Inc Class AMETA	SPYX +0.05 points	2.14%	2.09%
JPMorgan Chase & CoJPM	SPYX +0.05 points	1.42%	1.37%
Applied Materials IncAMAT	SPYX +0.05 points	0.52%	0.47%
Qualcomm IncQCOM	SPYX +0.05 points	0.31%	0.26%
Kimberly Clark CorpKMB	USPX +0.04 points	0.06%	0.10%
Berkshire Hathaway Inc Class BBRK.B	SPYX +0.04 points	1.57%	1.53%
Lam Research CorpLRCX	SPYX +0.04 points	0.49%	0.46%
Marvell Technology IncMRVL	SPYX +0.04 points	0.30%	0.26%
Dell Technologies CDELL	SPYX +0.03 points	0.22%	0.19%
Cisco Systems IncCSCO	SPYX +0.04 points	0.67%	0.63%
Arista Networks IncANET	SPYX +0.03 points	0.30%	0.27%
Tesla IncTSLA	SPYX +0.04 points	1.77%	1.73%
Oracle CorpORCL	SPYX +0.04 points	0.38%	0.34%
Crowdstrike Holdings Inc ACRWD	SPYX +0.03 points	0.41%	0.38%
General ElectricGE	SPYX +0.03 points	0.51%	0.48%
Caterpillar IncCAT	SPYX +0.03 points	0.46%	0.43%
Palo Alto Networks IncPANW	SPYX +0.03 points	0.48%	0.45%
Seagate Technology HoldingsSTX	SPYX +0.03 points	0.25%	0.22%
Datadog Inc Class ADDOG	SPYX +0.03 points	0.14%	0.11%
Eli Lilly & CoLLY	USPX +0.02 points	1.71%	1.73%
Kla CorpKLAC	SPYX +0.02 points	0.34%	0.32%
Texas Instruments IncTXN	SPYX +0.02 points	0.44%	0.42%
Western Digital CorpWDC	SPYX +0.02 points	0.22%	0.20%
Bank of America CorpBAC	SPYX +0.02 points	0.52%	0.50%
Johnson & JohnsonJNJ	SPYX +0.02 points	1.03%	1.01%
BlackRock IncBLK	SPYX +0.02 points	0.26%	0.24%
Parker Hannifin CorpPH	SPYX +0.02 points	0.18%	0.16%
UnitedHealth Group IncUNH	SPYX +0.02 points	0.57%	0.55%
Citigroup IncC	SPYX +0.02 points	0.33%	0.31%
Applovin Corp Class AAPP	SPYX +0.02 points	0.11%	0.09%
Amphenol Corp Class AAPH	SPYX +0.01 points	0.31%	0.30%
Salesforce IncCRM	SPYX +0.01 points	0.29%	0.28%
Quanta Services IncPWR	SPYX +0.02 points	0.15%	0.13%
Regeneron PharmaceuticalsREGN	USPX +0.02 points	0.12%	0.14%
Morgan StanleyMS	SPYX +0.01 points	0.35%	0.34%
Coherent CorpCOHR	SPYX +0.01 points	0.07%	0.06%
Vertiv Holdings Co AVRT	SPYX +0.02 points	0.15%	0.13%
Goldman Sachs Group IncGS	SPYX +0.01 points	0.42%	0.41%
Illinois Tool WorksITW	USPX +0.02 points	0.11%	0.13%
Lumentum Holdings IncLITE	SPYX +0.02 points	0.13%	0.11%
Walmart IncWMT	SPYX +0.01 points	0.84%	0.83%
Analog Devices IncADI	SPYX +0.01 points	0.33%	0.32%
Robinhood Markets Inc AHOOD	SPYX +0.01 points	0.11%	0.10%
Wells Fargo & CoWFC	SPYX +0.01 points	0.40%	0.39%
Intuitive Surgical IncISRG	SPYX +0.01 points	0.25%	0.24%
Home Depot IncHD	SPYX +0.01 points	0.51%	0.50%
General Dynamics CorpGD	SPYX +0.01 points	0.15%	0.14%
Nasdaq IncNDAQ	SPYX +0.01 points	0.07%	0.06%
Lockheed Martin CorpLMT	SPYX +0.01 points	0.20%	0.19%
Uber Technologies IncUBER	SPYX +0.01 points	0.21%	0.20%
Trane Technologies PLCTT	SPYX +0.01 points	0.15%	0.14%
United Rentals IncURI	SPYX +0.01 points	0.12%	0.11%
Visa Inc Class A SharesV	SPYX +0.01 points	1.09%	1.08%
Freeport Mcmoran IncFCX	SPYX +0.01 points	0.15%	0.14%
Schwab (Charles) CorpSCHW	SPYX +0.01 points	0.23%	0.22%
Hewlett Packard EnterpriseHPE	SPYX +0.01 points	0.12%	0.11%
Valero Energy CorpVLO	USPX +0.01 points	0.17%	0.18%
Ebay IncEBAY	Same weight	0.08%	0.08%
Travelers Cos Inc/TheTRV	SPYX +0.01 points	0.13%	0.12%
Hca Healthcare IncHCA	SPYX +0.01 points	0.11%	0.10%
Teledyne Technologies IncTDY	SPYX +0.01 points	0.05%	0.04%
Honeywell Aerospace IncHONA	SPYX +0.01 points	0.08%	0.07%
Ciena CorpCIEN	SPYX +0.01 points	0.08%	0.07%
Carrier Global CorpCARR	SPYX +0.01 points	0.07%	0.06%
Ameriprise Financial IncAMP	SPYX +0.01 points	0.07%	0.06%
Comfort Systems Usa IncFIX	SPYX +0.01 points	0.07%	0.06%
Airbnb Inc Class AABNB	SPYX +0.01 points	0.11%	0.10%
Newmont CorpNEM	SPYX +0.01 points	0.18%	0.17%
Stryker CorpSYK	SPYX +0.01 points	0.17%	0.16%
Coinbase Global Inc Class ACOIN	SPYX +0.01 points	0.06%	0.05%
Apollo Global Management IncAPO	SPYX +0.01 points	0.09%	0.08%
Corning IncGLW	SPYX +0.01 points	0.16%	0.15%
Resmed IncRMD	SPYX +0.01 points	0.06%	0.05%
Motorola Solutions IncMSI	SPYX +0.01 points	0.13%	0.12%
Howmet Aerospace IncHWM	SPYX +0.01 points	0.13%	0.12%
Deere & CoDE	USPX +0.01 points	0.26%	0.27%
Servicenow IncNOW	SPYX +0.01 points	0.18%	0.17%
Cadence Design Sys IncCDNS	SPYX +0.01 points	0.15%	0.14%
Vertex Pharmaceuticals IncVRTX	USPX +0.01 points	0.21%	0.22%
Ferguson Enterprises IncFERG	Same weight	0.07%	0.07%
Sherwin Williams Co/TheSHW	SPYX +0.01 points	0.12%	0.11%
Prologis IncPLD	SPYX +0.01 points	0.19%	0.18%
Amgen IncAMGN	SPYX +0.01 points	0.39%	0.38%
Mastercard Inc AMA	SPYX +0.01 points	0.80%	0.79%
T Mobile Us IncTMUS	USPX +0.01 points	0.11%	0.12%
Paccar IncPCAR	Same weight	0.08%	0.08%
Rtx CorpRTX	SPYX +0.01 points	0.42%	0.41%
Netapp IncNTAP	SPYX +0.01 points	0.07%	0.06%
Emcor Group IncEME	SPYX +0.01 points	0.05%	0.04%

All 487 SPYX holdings⁠All USPX 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.

SPYX vs USPX Cost

Overpaying SPYX vs USPX

$3,517

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

SPYX 0.20%
$4,155
USPX 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SPYX 0.20%
USPX 0.03%
Overpaying

Year by year

Year	SPYX	USPX	Overpaying
10	$365	$55	$310
20	$1,421	$216	$1,205
30	$4,155	$638	$3,517

Expense ratio

0.20%SPYX
0.03%USPX, cheaper

USPX0.03%SPYX0.20%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

USPX 2nd cheapest of 14 funds

SPYX 12th cheapest of 14 funds

SPYX vs USPX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SPYX 0.86%; USPX 1.04%, better
Payout (12M): SPYX $0.53; USPX $0.69
Last payment: SPYX $0.13; USPX $0.14
Ex-dividend: SPYX Sep 21, 2026; USPX Sep 18, 2026
Paid on: SPYX Sep 23, 2026; USPX Sep 25, 2026
Frequency: SPYX Quarterly; USPX Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPYXQuarterly · 39 paymentsAll SPYX payments⁠

USPXQuarterly · 28 paymentsAll USPX payments⁠

SPYX vs USPX Risk

Fall from peak · 5 years

SPYX
USPX

Risk facts

VolatilityStd dev, 3 years: SPYX 12.7%USPX 12.6%, better
Return per unit of riskSharpe ratio, 3 years: SPYX 1.37USPX 1.39, better
Worst fallMax drawdown, 5 years: SPYX −26.1%USPX −24.6%, better
Market sensitivityBeta, 5 years: SPYX 1.01USPX 0.93; Market = 1

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