AFK vs SPY
VanEck Africa Index ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AFK delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AFK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.76% | 0.09% | |
| AUM | $98M | $789.1B | |
| Dividend Yield | 1.05% | 1.01% | |
| Holdings | 79 | 505 | |
| YTD Return | +7.51% | +13.75% | |
| 1Y Return | +32.66% | +22.91% | |
| 3Y Return (annualized) | +24.88% | +21.67% | |
| 5Y Return (annualized) | +7.94% | +13.32% | |
| Volatility (annualized) | 23.3% | 15.3% | |
| Max Drawdown | -43.2% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 10, 2008 | Jan 22, 1993 |
AFK vs SPY Performance
VanEck Africa Index ETF (AFK) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AFK returned +32.66% while SPY returned +22.91%. Year to date, AFK is up 7.51% versus a gain of 13.75% for SPY.
Over three years, AFK compounded at +24.88% per year against +21.67% for SPY; over five years the annualized figures are +7.94% and +13.32% respectively. Across the full 7-year window we track, SPY has the edge at +8.85% annualized vs +8.41%. 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 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 -43.2% for AFK 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.05% against 1.01% for SPY.
Holdings Overlap
AFK and SPY share 1 holdings out of 572 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AFK | Weight in SPY | Difference |
|---|---|---|---|
| RCL | 0.53% | 0.11% | 0.42% |
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. On a $10,000 investment, that is $67 per year of difference.
Which performed better, AFK or SPY?
Over the past year AFK returned +32.66% vs +22.91% for SPY, so AFK leads on 1-year performance. Over the longest common window we track (7 years), AFK annualized +8.41% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AFK or SPY?
AFK has been the more volatile fund at 23.3% annualized versus 15.3% for SPY. Worst drawdown: AFK -43.2% vs SPY -56.5%.
Should I hold both AFK and SPY?
AFK and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AFK and SPY?
AFK and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 572 unique securities.
Which pays a higher dividend, AFK or SPY?
AFK yields 1.05% while SPY yields 1.01%, so AFK currently pays the higher dividend yield.
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