AELV vs SPY
Harbor AlphaEdge Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AELV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. AELV led over 1Y, SPY over the full window. AELV is less concentrated, with 37.5% of the fund in its ten largest positions against 37.8%.
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 | AELV | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $5M | $804.7B |
| Dividend Yield | 1.33% | 0.98% |
| Holdings | 75 | 505 |
| YTD Return | +11.60%Best | +10.96% |
| 1Y Return | +18.48%Best | +15.52% |
| 3Y Return (annualized) | - | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 10.7%Best | 12.8% |
| Max Drawdown | -16.6%Best | -18.8% |
| $10,000 over 2 years | $13,484 | $13,976Best |
| Top 10 Weight | 37.5%Best | 37.8% |
| Fund Family | Harbor Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 4, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 5, 2024 to Sep 16, 2026 (2 years).
AELV 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 covers the 2 years both funds cover.
AELV vs SPY Performance
Harbor AlphaEdge Large Cap Value ETF (AELV) is an ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AELV returned +18.48% while SPY returned +15.52%. Year to date, AELV is up 11.60% versus a gain of 10.96% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 10.7% for AELV. 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 -16.6% for AELV and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AELV charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, AELV currently yields 1.33% against 0.98% for SPY.
Holdings Overlap
85.3% of AELV's money is in holdings SPY also owns. 45.2% of SPY's money is in holdings AELV also owns.
Most of AELV is already inside SPY. Owning both mostly buys the same companies twice.
61 positions in common, counted across the 75 positions we hold weights for in AELV and 504 in SPY, against full books of 75 and 505.
What only one of them owns
Our book lists 436 positions for SPY that do not appear in our book for AELV (54.2% of the fund), and 11 for AELV that do not appear in SPY (13.2%).
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 AELV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.17% | 7.26% | 0.09% |
| NVDANvidia Corp | 1.92% | 8.01% | 6.09% |
| MSFTMicrosoft Corp | 1.71% | 5.66% | 3.95% |
| AMZNAmazon.Com Inc | 3.13% | 3.79% | 0.66% |
| JNJJohnson & Johnson - Common | 4.86% | 0.99% | 3.87% |
| BACBank of America Corp.: Financials | 4.03% | 0.62% | 3.41% |
| VVisa Inc Class A | 2.95% | 0.94% | 2.01% |
| GOOGLAlphabet Inc,class A | 0.49% | 2.99% | 2.50% |
| BKBank Of New York Mellon Corp | 3.26% | 0.17% | 3.09% |
| GDGeneral Dynamics Corp. | 3.21% | 0.14% | 3.07% |
85.3% of AELV 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, AELV or SPY?
AELV has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, AELV or SPY?
Over the past year AELV returned +18.48% vs +15.52% for SPY, so AELV leads on 1-year performance. Over the longest common window we track (2 years), AELV annualized +16.12% vs +18.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AELV or SPY?
SPY has been the more volatile fund at 12.8% annualized versus 10.7% for AELV. Worst drawdown: AELV -16.6% vs SPY -18.8%.
Should I hold both AELV and SPY?
AELV and SPY have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between AELV and SPY?
85.3% of AELV's money is in holdings SPY also owns. 45.2% of SPY's is in holdings AELV also owns. They hold 61 positions in common, counted across the 75 positions we hold weights for in AELV and 504 in SPY.
Which pays a higher dividend, AELV or SPY?
AELV yields 1.33% while SPY yields 0.98%, so AELV currently pays the higher dividend yield.
Is SPY better than AELV?
SPY has a lower expense ratio. AELV led over 1Y, SPY over the full window. AELV is less concentrated, with 37.5% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.