AMLP vs SPY
Alerian MLP ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AMLP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.09% | |
| AUM | $12.8B | $789.1B | |
| Dividend Yield | 7.76% | 1.01% | |
| Holdings | 14 | 505 | |
| YTD Return | +19.87% | +13.68% | |
| 1Y Return | +21.09% | +21.53% | |
| 3Y Return (annualized) | +18.86% | +21.44% | |
| 5Y Return (annualized) | +19.16% | +13.18% | |
| Volatility (annualized) | 25.4% | 15.3% | |
| Max Drawdown | -85.4% | -56.5% | |
| Fund Family | ALPS Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 25, 2010 | Jan 22, 1993 |
AMLP vs SPY Performance
Alerian MLP ETF (AMLP) is a ETF from ALPS Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AMLP returned +21.09% while SPY returned +21.53%. Year to date, AMLP is up 19.87% versus a gain of 13.68% for SPY.
Over three years, AMLP compounded at +18.86% per year against +21.44% for SPY; over five years the annualized figures are +19.16% and +13.18% respectively. Across the full 16-year window we track, SPY has the edge at +8.85% annualized vs +0.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AMLP has been the more volatile fund, with annualized monthly volatility of 25.4% 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 -85.4% for AMLP 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AMLP charges 1.01% per year while SPY charges 0.09%. On a $10,000 position that is $101 vs $9 annually, a gap of $92 per year that compounds over a long holding period. On income, AMLP currently yields 7.76% against 1.01% for SPY.
Holdings Overlap
AMLP and SPY share 0 holdings out of 517 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AMLP or SPY?
AMLP has an expense ratio of 1.01% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, AMLP or SPY?
Over the past year AMLP returned +21.09% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), AMLP annualized +0.82% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AMLP or SPY?
AMLP has been the more volatile fund at 25.4% annualized versus 15.3% for SPY. Worst drawdown: AMLP -85.4% vs SPY -56.5%.
Should I hold both AMLP and SPY?
AMLP and SPY have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AMLP and SPY?
AMLP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, AMLP or SPY?
AMLP yields 7.76% while SPY yields 1.01%, so AMLP currently pays the higher dividend yield.
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