AAPB vs SPY
GraniteShares 2x Long AAPL Daily ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AAPB delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | AAPB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.15% | 0.09% | |
| AUM | $20M | $789.1B | |
| Dividend Yield | 4.15% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | +16.04% | +14.47% | |
| 1Y Return | +50.58% | +21.96% | |
| 3Y Return (annualized) | +21.84% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 45.1% | 15.3% | |
| Max Drawdown | -58.1% | -56.5% | |
| Fund Family | GraniteShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Aug 9, 2022 | Jan 22, 1993 |
AAPB vs SPY Performance
GraniteShares 2x Long AAPL Daily ETF (AAPB) is a ETF from GraniteShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AAPB returned +50.58% while SPY returned +21.96%. Year to date, AAPB is up 16.04% versus a gain of 14.47% for SPY.
Over three years, AAPB compounded at +21.84% per year against +21.70% for SPY. Across the full 4-year window we track, AAPB has the edge at +16.29% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AAPB has been the more volatile fund, with annualized monthly volatility of 45.1% compared with 15.3% for SPY. 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 -58.1% for AAPB 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AAPB charges 1.15% per year while SPY charges 0.09%. On a $10,000 position that is $115 vs $9 annually, a gap of $106 per year that compounds over a long holding period. On income, AAPB currently yields 4.15% against 1.01% for SPY.
Holdings Overlap
AAPB and SPY share 1 holdings out of 503 unique holdings combined, representing a 7.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AAPB | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 66.65% | 7.09% | 59.56% |
Frequently Asked Questions
Which is cheaper, AAPB or SPY?
AAPB has an expense ratio of 1.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $106 per year of difference.
Which performed better, AAPB or SPY?
Over the past year AAPB returned +50.58% vs +21.96% for SPY, so AAPB leads on 1-year performance. Over the longest common window we track (4 years), AAPB annualized +16.29% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, AAPB or SPY?
AAPB has been the more volatile fund at 45.1% annualized versus 15.3% for SPY. Worst drawdown: AAPB -58.1% vs SPY -56.5%.
Should I hold both AAPB and SPY?
AAPB and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AAPB and SPY?
AAPB and SPY share 1 common holdings with a 7.1% weight overlap. Combined, they hold 503 unique securities.
Which pays a higher dividend, AAPB or SPY?
AAPB yields 4.15% while SPY yields 1.01%, so AAPB currently pays the higher dividend yield.
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