AIPI vs SPY
REX AI Equity Premium Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AIPI or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. AIPI led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.0%.
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 | AIPI | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $434M | $804.7B |
| Dividend Yield | 33.87% | 0.98% |
| Holdings | 90 | 505 |
| YTD Return | +13.30%Best | +11.52% |
| 1Y Return | +21.10%Best | +17.48% |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 18.3% | 12.0%Best |
| Max Drawdown | -25.3% | -18.8%Best |
| $10,000 over 2.3 years | $16,119Best | $14,813 |
| Top 10 Weight | 59.0% | 38.0%Best |
| Fund Family | REX Shares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jun 3, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jun 4, 2024 to Sep 10, 2026 (2.3 years).
AIPI 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 2.3 years both funds cover.
AIPI vs SPY Performance
REX AI Equity Premium Income ETF (AIPI) is an ETF from REX Shares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AIPI returned +21.10% while SPY returned +17.48%. Year to date, AIPI is up 13.30% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AIPI has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 12.0% 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 -25.3% for AIPI 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AIPI charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, AIPI currently yields 33.87% against 0.98% for SPY.
Holdings Overlap
89.2% of AIPI's money is in holdings SPY also owns. 39.5% of SPY's money is in holdings AIPI also owns.
Most of AIPI is already inside SPY. Owning both mostly buys the same companies twice.
22 positions in common, counted across the 25 positions we hold weights for in AIPI and 504 in SPY, against full books of 90 and 505.
What only one of them owns
Our book lists 472 positions for SPY that do not appear in our book for AIPI (60.0% of the fund), and 2 for AIPI that do not appear in SPY (6.6%).
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 AIPI | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 10.65% | 7.71% | 2.94% |
| PLTRPalantir Technologies Inc | 12.87% | 0.56% | 12.31% |
| AAPLApple, Inc | 2.83% | 6.83% | 4.00% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 3.69% | 5.50% | 1.81% |
| CRWDCrowdstrike Holdings Inc. Class A | 8.40% | 0.32% | 8.08% |
| AMZNAmazon.Com Inc | 3.21% | 4.08% | 0.87% |
| AVGOBroadcom Inc | 3.30% | 2.97% | 0.33% |
| GOOGLAlphabet A Usd 0.001 | 2.73% | 3.33% | 0.60% |
| METAMeta Platforms, Inc. | 2.94% | 1.94% | 1.00% |
| MUMicron Technology, Inc. | 2.55% | 1.51% | 1.04% |
89.2% of AIPI 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, AIPI or SPY?
AIPI has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, AIPI or SPY?
Over the past year AIPI returned +21.10% vs +17.48% for SPY, so AIPI leads on 1-year performance. Over the longest common window we track (2 years), AIPI annualized +23.07% vs +18.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AIPI or SPY?
AIPI has been the more volatile fund at 18.3% annualized versus 12.0% for SPY. Worst drawdown: AIPI -25.3% vs SPY -18.8%.
Should I hold both AIPI and SPY?
AIPI and SPY have a monthly-return correlation of 0.74, 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 AIPI and SPY?
89.2% of AIPI's money is in holdings SPY also owns. 39.5% of SPY's is in holdings AIPI also owns. They hold 22 positions in common, counted across the 25 positions we hold weights for in AIPI and 504 in SPY.
Which pays a higher dividend, AIPI or SPY?
AIPI yields 33.87% while SPY yields 0.98%, so AIPI currently pays the higher dividend yield.
Is SPY better than AIPI?
SPY has a lower expense ratio. AIPI led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.