AESR vs SPY
Anfield US Equity Sector Rotation ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AESR or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. AESR led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 84.5%.
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 | AESR | SPY |
|---|---|---|
| Expense Ratio | 0.97% | 0.09%Best |
| AUM | $255M | $811.2B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 66 | 1,515 |
| YTD Return | +17.38%Best | +13.54% |
| 1Y Return | +19.66%Best | +16.25% |
| 3Y Return (annualized) | +27.31%Best | +23.72% |
| 5Y Return (annualized) | +14.53%Best | +13.95% |
| Volatility (annualized) | 17.6% | 16.8%Best |
| Max Drawdown | -31.1%Best | -34.1% |
| $10,000 over 5 years | $19,706Best | $19,212 |
| Top 10 Weight | 84.5% | 38.2%Best |
| Fund Family | Horizon Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 16, 2019 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 17, 2019 to Oct 2, 2026 (6.8 years).
AESR 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 6.8 years both funds cover.
AESR vs SPY Performance
Anfield US Equity Sector Rotation ETF (AESR) is an ETF from Horizon Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AESR returned +19.66% while SPY returned +16.25%. Year to date, AESR is up 17.38% versus a gain of 13.54% for SPY.
Over three years, AESR compounded at +27.31% per year against +23.72% for SPY; over five years the annualized figures are +14.53% and +13.95% respectively. Across the full 7-year window we track, AESR has the edge at +15.74% annualized vs +15.11%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AESR has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 16.8% 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 -31.1% for AESR and -34.1% 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 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AESR charges 0.97% per year while SPY charges 0.09%. On a $10,000 position that is $97 vs $9 annually, a gap of $88 per year that compounds over a long holding period. On income, AESR currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
7.1% of AESR's money is in holdings SPY also owns. 1.3% of SPY's money is in holdings AESR also owns.
AESR and SPY share little of their money.
10 positions in common, counted across the 32 positions we hold weights for in AESR and 504 in SPY, against full books of 66 and 1,515.
What only one of them owns
Our book lists 487 positions for SPY that do not appear in our book for AESR (97.9% of the fund), and 19 for AESR that do not appear in SPY (90.8%).
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 AESR | Weight in SPY | Difference |
|---|---|---|---|
| CATCaterpillar, Inc. | 0.65% | 0.55% | 0.10% |
| CSXCsx Corp. | 0.77% | 0.14% | 0.63% |
| TRGPTarga Resources Corp Preferred | 0.82% | 0.09% | 0.73% |
| ROSTRoss Stores, Inc. | 0.79% | 0.11% | 0.68% |
| KEYSKeysight Technologies Inc. | 0.77% | 0.08% | 0.69% |
| PWRQuanta Services Inc | 0.71% | 0.14% | 0.57% |
| FIXComfort Systems USA Inc. | 0.69% | 0.08% | 0.61% |
| JBLJabil, Inc. | 0.69% | 0.05% | 0.64% |
| FLEXFlex Ltd. Ordinary Shares | 0.58% | 0.06% | 0.52% |
| CASYCaseys General | 0.59% | 0.04% | 0.55% |
You are not choosing between two funds in isolation.
Whichever of AESR and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AESR or SPY?
AESR has an expense ratio of 0.97% while SPY charges 0.09%. SPY is the cheaper option, by $88 a year on a $10,000 investment.
Which performed better, AESR or SPY?
Over the past year AESR returned +19.66% vs +16.25% for SPY, so AESR leads on 1-year performance. Over the longest common window we track (7 years), AESR annualized +15.74% vs +15.11% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AESR or SPY?
AESR has been the more volatile fund at 17.6% annualized versus 16.8% for SPY. Worst drawdown: AESR -31.1% vs SPY -34.1%.
Should I hold both AESR and SPY?
AESR and SPY have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AESR and SPY?
7.1% of AESR's money is in holdings SPY also owns. 1.3% of SPY's is in holdings AESR also owns. They hold 10 positions in common, counted across the 32 positions we hold weights for in AESR and 504 in SPY.
Which pays a higher dividend, AESR or SPY?
AESR yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than AESR?
SPY has a lower expense ratio. AESR led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 84.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.