AAAA vs SPY
Amplius Aggressive Asset Allocation ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AAAA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.09% | |
| AUM | $276M | $789.1B | |
| Dividend Yield | 1.28% | 1.01% | |
| Holdings | 47 | 505 | |
| YTD Return | +12.63% | +13.75% | |
| 1Y Return | +21.87% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 11.4% | 15.3% | |
| Max Drawdown | -7.8% | -56.5% | |
| Fund Family | Amplius | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Jul 15, 2025 | Jan 22, 1993 |
AAAA vs SPY Performance
Amplius Aggressive Asset Allocation ETF (AAAA) is a ETF from Amplius and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AAAA returned +21.87% while SPY returned +22.91%. Year to date, AAAA is up 12.63% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 11.4% for AAAA. 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 -7.8% for AAAA and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AAAA charges 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, AAAA currently yields 1.28% against 1.01% for SPY.
Holdings Overlap
AAAA and SPY share 26 holdings out of 523 unique holdings combined, representing a 15.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AAAA or SPY?
AAAA has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $40 per year of difference.
Which performed better, AAAA or SPY?
Over the past year AAAA returned +21.87% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), AAAA annualized +22.48% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AAAA or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 11.4% for AAAA. Worst drawdown: AAAA -7.8% vs SPY -56.5%.
Should I hold both AAAA and SPY?
AAAA and SPY have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between AAAA and SPY?
AAAA and SPY share 26 common holdings with a 15.9% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, AAAA or SPY?
AAAA yields 1.28% while SPY yields 1.01%, so AAAA currently pays the higher dividend yield.
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