ACWV vs SPY
iShares MSCI Global Min Vol Factor 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 | ACWV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $3.3B | $789.1B | |
| Dividend Yield | 1.96% | 1.01% | |
| Holdings | 437 | 505 | |
| YTD Return | +6.80% | +14.47% | |
| 1Y Return | +7.26% | +21.96% | |
| 3Y Return (annualized) | +11.05% | +21.70% | |
| 5Y Return (annualized) | +5.72% | +13.30% | |
| Volatility (annualized) | 10.0% | 15.3% | |
| Max Drawdown | -28.8% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 18, 2011 | Jan 22, 1993 |
ACWV vs SPY Performance
iShares MSCI Global Min Vol Factor ETF (ACWV) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ACWV returned +7.26% while SPY returned +21.96%. Year to date, ACWV is up 6.80% versus a gain of 14.47% for SPY.
Over three years, ACWV compounded at +11.05% per year against +21.70% for SPY; over five years the annualized figures are +5.72% and +13.30% respectively. Across the full 15-year window we track, SPY has the edge at +8.87% annualized vs +8.51%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.0% for ACWV. 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 -28.8% for ACWV 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ACWV charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, ACWV currently yields 1.96% against 1.01% for SPY.
Holdings Overlap
ACWV and SPY share 142 holdings out of 742 unique holdings combined, representing a 22.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, ACWV or SPY?
ACWV has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, ACWV or SPY?
Over the past year ACWV returned +7.26% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), ACWV annualized +8.51% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, ACWV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.0% for ACWV. Worst drawdown: ACWV -28.8% vs SPY -56.5%.
Should I hold both ACWV and SPY?
ACWV and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ACWV and SPY?
ACWV and SPY share 142 common holdings with a 22.9% weight overlap. Combined, they hold 742 unique securities.
Which pays a higher dividend, ACWV or SPY?
ACWV yields 1.96% while SPY yields 1.01%, so ACWV currently pays the higher dividend yield.
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