AKAF vs SPY
The Frontier Economic Fund ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AKAF or SPY?
AKAF has been ahead.
SPY has a lower expense ratio. AKAF led over 1Y and the full window. AKAF is less concentrated, with 17.7% 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 | AKAF | SPY |
|---|---|---|
| Expense Ratio | 0.20% | 0.09%Best |
| AUM | $3M | $804.7B |
| Dividend Yield | 2.86% | 0.98% |
| Holdings | 143 | 505 |
| YTD Return | +9.49% | +10.96%Best |
| 1Y Return | +16.61%Best | +15.52% |
| 3Y Return (annualized) | - | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 13.8% | 12.2%Best |
| Max Drawdown | -9.3% | -8.9%Best |
| $10,000 over 1.2 years | $12,827Best | $12,407 |
| Top 10 Weight | 17.7%Best | 37.8% |
| Fund Family | Frontier Economic Fund | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 25, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jun 26, 2025 to Sep 16, 2026 (1.2 years).
AKAF 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 1.2 years both funds cover.
AKAF vs SPY Performance
The Frontier Economic Fund ETF (AKAF) is an ETF from Frontier Economic Fund and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AKAF returned +16.61% while SPY returned +15.52%. Year to date, AKAF is up 9.49% versus a gain of 10.96% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AKAF has been the more volatile fund, with annualized monthly volatility of 13.8% compared with 12.2% 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 -9.3% for AKAF and -8.9% 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 0.53. They move together some of the time, and apart the rest.
Fees and Cost Over Time
AKAF charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, AKAF currently yields 2.86% against 0.98% for SPY.
Holdings Overlap
60.7% of AKAF's money is in holdings SPY also owns. 32.3% of SPY's money is in holdings AKAF also owns.
The two portfolios partly overlap.
80 positions in common, counted across the 149 positions we hold weights for in AKAF and 504 in SPY, against full books of 143 and 505.
What only one of them owns
Our book lists 417 positions for SPY that do not appear in our book for AKAF (67.0% of the fund), and 37 for AKAF that do not appear in SPY (18.0%).
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 AKAF | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 0.75% | 7.26% | 6.51% |
| MSFTMicrosoft Corp | 0.73% | 5.66% | 4.93% |
| AMZNAmazon.Com Inc | 0.70% | 3.79% | 3.09% |
| GOOGLAlphabet Inc,class A | 0.70% | 2.99% | 2.29% |
| XOMExxon Mobil Corp. | 2.16% | 1.04% | 1.12% |
| COPConocophillips Common Stock USD 0.01 | 2.22% | 0.25% | 1.97% |
| UBERUber Technologies Inc | 2.08% | 0.23% | 1.85% |
| DASHDoordash Inc - A | 2.14% | 0.13% | 2.01% |
| SLBSchlumberger Nv. | 1.55% | 0.13% | 1.42% |
| HALHalliburton Co. | 1.56% | 0.05% | 1.51% |
60.7% of AKAF 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, AKAF or SPY?
AKAF has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, AKAF or SPY?
Over the past year AKAF returned +16.61% vs +15.52% for SPY, so AKAF leads on 1-year performance. Over the longest common window we track (1 years), AKAF annualized +23.06% vs +19.69% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AKAF or SPY?
AKAF has been the more volatile fund at 13.8% annualized versus 12.2% for SPY. Worst drawdown: AKAF -9.3% vs SPY -8.9%.
Should I hold both AKAF and SPY?
AKAF and SPY have a monthly-return correlation of 0.53, 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 AKAF and SPY?
60.7% of AKAF's money is in holdings SPY also owns. 32.3% of SPY's is in holdings AKAF also owns. They hold 80 positions in common, counted across the 149 positions we hold weights for in AKAF and 504 in SPY.
Which pays a higher dividend, AKAF or SPY?
AKAF yields 2.86% while SPY yields 0.98%, so AKAF currently pays the higher dividend yield.
Is SPY better than AKAF?
SPY has a lower expense ratio. AKAF led over 1Y and the full window. AKAF is less concentrated, with 17.7% 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.