AESR vs SPY
Anfield US Equity Sector Rotation ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AESR delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | AESR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.97% | 0.09% | |
| AUM | $258M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 32 | 505 | |
| YTD Return | +16.24% | +12.22% | |
| 1Y Return | +25.65% | +20.83% | |
| 3Y Return (annualized) | +25.00% | +21.70% | |
| 5Y Return (annualized) | +13.53% | +12.98% | |
| Volatility (annualized) | 17.8% | 15.3% | |
| Max Drawdown | -31.1% | -56.5% | |
| Fund Family | Horizon Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 16, 2019 | Jan 22, 1993 |
AESR vs SPY Performance
Anfield US Equity Sector Rotation ETF (AESR) is a ETF from Horizon Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AESR returned +25.65% while SPY returned +20.83%. Year to date, AESR is up 16.24% versus a gain of 12.22% for SPY.
Over three years, AESR compounded at +25.00% per year against +21.70% for SPY; over five years the annualized figures are +13.53% and +12.98% respectively. Across the full 7-year window we track, AESR has the edge at +15.87% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AESR has been the more volatile fund, with annualized monthly volatility of 17.8% 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 -31.1% for AESR 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 0.96. 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 1.01% for SPY.
Holdings Overlap
AESR and SPY share 10 holdings out of 525 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $88 per year of difference.
Which performed better, AESR or SPY?
Over the past year AESR returned +25.65% vs +20.83% for SPY, so AESR leads on 1-year performance. Over the longest common window we track (7 years), AESR annualized +15.87% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, AESR or SPY?
AESR has been the more volatile fund at 17.8% annualized versus 15.3% for SPY. Worst drawdown: AESR -31.1% vs SPY -56.5%.
Should I hold both AESR and SPY?
AESR and SPY have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between AESR and SPY?
AESR and SPY share 10 common holdings with a 1.5% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, AESR or SPY?
AESR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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