AFK vs SPY
VanEck Africa Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AFK or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. AFK led over 1Y and 3Y, SPY over 5Y and the full window. AFK is less concentrated, with 37.6% 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 | AFK | SPY |
|---|---|---|
| Expense Ratio | 0.76% | 0.09%Best |
| AUM | $95M | $804.7B |
| Dividend Yield | 0.91% | 0.98% |
| Holdings | 73 | 505 |
| YTD Return | +9.93% | +13.82%Best |
| 1Y Return | +22.95%Best | +16.96% |
| 3Y Return (annualized) | +28.38%Best | +22.97% |
| 5Y Return (annualized) | +9.75% | +13.73%Best |
| Volatility (annualized) | 23.3% | 16.9%Best |
| Max Drawdown | -43.2% | -34.1%Best |
| $10,000 over 5 years | $15,923 | $19,027Best |
| Top 10 Weight | 37.6%Best | 37.8% |
| Fund Family | VanEck | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Jul 10, 2008 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 2, 2019 to Sep 21, 2026 (6.8 years).
AFK 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.
AFK vs SPY Performance
VanEck Africa Index ETF (AFK) is an ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AFK returned +22.95% while SPY returned +16.96%. Year to date, AFK is up 9.93% versus a gain of 13.82% for SPY.
Over three years, AFK compounded at +28.38% per year against +22.97% for SPY; over five years the annualized figures are +9.75% and +13.73% respectively. Across the full 7-year window we track, SPY has the edge at +15.55% annualized vs +8.62%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AFK has been the more volatile fund, with annualized monthly volatility of 23.3% compared with 16.9% 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 -43.2% for AFK 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 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
AFK charges 0.76% per year while SPY charges 0.09%. On a $10,000 position that is $76 vs $9 annually, a gap of $67 per year that compounds over a long holding period. On income, AFK currently yields 0.91% against 0.98% for SPY.
Holdings Overlap
0.4% of AFK's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings AFK also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 71 positions we hold weights for in AFK and 504 in SPY, against full books of 73 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for AFK (99.2% of the fund), and 5 for AFK that do not appear in SPY (4.8%).
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 AFK | Weight in SPY | Difference |
|---|---|---|---|
| RCLRoyal Caribbean Cruises | 0.42% | 0.10% | 0.32% |
You are not choosing between two funds in isolation.
Whichever of AFK 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, AFK or SPY?
AFK has an expense ratio of 0.76% while SPY charges 0.09%. SPY is the cheaper option, by $67 a year on a $10,000 investment.
Which performed better, AFK or SPY?
Over the past year AFK returned +22.95% vs +16.96% for SPY, so AFK leads on 1-year performance. Over the longest common window we track (7 years), AFK annualized +8.62% vs +15.55% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AFK or SPY?
AFK has been the more volatile fund at 23.3% annualized versus 16.9% for SPY. Worst drawdown: AFK -43.2% vs SPY -34.1%.
Should I hold both AFK and SPY?
AFK and SPY have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, AFK or SPY?
AFK yields 0.91% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than AFK?
SPY has a lower expense ratio. AFK led over 1Y and 3Y, SPY over 5Y and the full window. AFK is less concentrated, with 37.6% 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.