AAEQ vs SPY
Alpha Architect US Equity 2 ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AAEQ or SPY?
AAEQ and SPY are close on what we can measure.
SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 38.0%.
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 | AAEQ | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $506M | $804.7B |
| Dividend Yield | 0.09% | 0.98% |
| Holdings | 353 | 505 |
| YTD Return | +10.85% | +12.09%Best |
| 1Y Return | - | +16.29% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Top 10 Weight | 38.0% | 37.8%Best |
| Fund Family | Alpha Architect | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 9, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
AAEQ vs SPY 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
AAEQ vs SPY Performance
Alpha Architect US Equity 2 ETF (AAEQ) is an ETF from Alpha Architect and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, AAEQ is up 10.85% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
AAEQ charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually. On income, AAEQ currently yields 0.09% against 0.98% for SPY.
Holdings Overlap
98.8% of AAEQ's money is in holdings SPY also owns. 90.7% of SPY's money is in holdings AAEQ also owns.
Most of AAEQ is already inside SPY. Owning both mostly buys the same companies twice.
289 positions in common, counted across the 293 positions we hold weights for in AAEQ and 504 in SPY, against full books of 353 and 505.
What only one of them owns
Our book lists 208 positions for SPY that do not appear in our book for AAEQ (8.7% of the fund), and 4 for AAEQ that do not appear in SPY (1.1%).
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 AAEQ | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 8.21% | 8.01% | 0.20% |
| AAPLApple, Inc | 6.96% | 7.26% | 0.30% |
| MSFTMicrosoft Corp | 5.67% | 5.66% | 0.01% |
| AMZNAmazon.Com Inc | 3.78% | 3.79% | 0.01% |
| GOOGLAlphabet Inc,class A | 3.07% | 2.99% | 0.08% |
| AVGOBroadcom Inc | 2.81% | 2.66% | 0.15% |
| GOOGAlphabet Inc | 2.46% | 2.39% | 0.07% |
| METAMeta Platforms Inc | 1.89% | 1.93% | 0.04% |
| MUMicron Technology, Inc. | 1.66% | 1.60% | 0.06% |
| TSLATesla Inc | 1.53% | 1.52% | 0.01% |
98.8% of AAEQ is already inside SPY.
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, AAEQ or SPY?
AAEQ has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
What is the holdings overlap between AAEQ and SPY?
98.8% of AAEQ's money is in holdings SPY also owns. 90.7% of SPY's is in holdings AAEQ also owns. They hold 289 positions in common, counted across the 293 positions we hold weights for in AAEQ and 504 in SPY.
Which pays a higher dividend, AAEQ or SPY?
AAEQ yields 0.09% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than AAEQ?
SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.