ANEW vs SPY
MSCI Transformational Changes ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ANEW or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. ANEW is less concentrated, with 22.3% of the fund in its ten largest positions against 38.0%.
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 | ANEW | SPY |
|---|---|---|
| Expense Ratio | 0.45% | 0.09%Best |
| AUM | $8M | $804.7B |
| Dividend Yield | 0.50% | 0.98% |
| Holdings | 148 | 505 |
| YTD Return | +6.25% | +12.19%Best |
| 1Y Return | +4.27% | +18.53%Best |
| 3Y Return (annualized) | +14.74% | +20.88%Best |
| 5Y Return (annualized) | +2.96% | +12.69%Best |
| Volatility (annualized) | 16.8% | 15.4%Best |
| Max Drawdown | -39.9% | -24.5%Best |
| $10,000 over 5 years | $11,570 | $18,173Best |
| Top 10 Weight | 22.3%Best | 38.0% |
| Fund Family | ProShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Oct 14, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 16, 2020 to Sep 9, 2026 (5.9 years).
ANEW 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 5.9 years both funds cover.
ANEW vs SPY Performance
MSCI Transformational Changes ETF (ANEW) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ANEW returned +4.27% while SPY returned +18.53%. Year to date, ANEW is up 6.25% versus a gain of 12.19% for SPY.
Over three years, ANEW compounded at +14.74% per year against +20.88% for SPY; over five years the annualized figures are +2.96% and +12.69% respectively. Across the full 6-year window we track, SPY has the edge at +15.71% annualized vs +5.66%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ANEW has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 15.4% 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 -39.9% for ANEW and -24.5% 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ANEW charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, ANEW currently yields 0.50% against 0.98% for SPY.
Holdings Overlap
59.2% of ANEW's money is in holdings SPY also owns. 48.4% of SPY's money is in holdings ANEW also owns.
The two portfolios partly overlap.
58 positions in common, counted across the 146 positions we hold weights for in ANEW and 504 in SPY, against full books of 148 and 505.
What only one of them owns
Our book lists 436 positions for SPY that do not appear in our book for ANEW (51.1% of the fund), and 54 for ANEW that do not appear in SPY (15.1%).
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 ANEW | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 1.86% | 7.71% | 5.85% |
| AAPLApple, Inc | 1.95% | 6.83% | 4.88% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.19% | 5.50% | 3.31% |
| AMZNAmazon.Com Inc | 1.97% | 4.08% | 2.11% |
| GOOGLAlphabet A Usd 0.001 | 1.75% | 3.33% | 1.58% |
| AVGOBroadcom Inc | 1.91% | 2.97% | 1.06% |
| METAMeta Platforms, Inc. | 1.83% | 1.94% | 0.11% |
| LLYEli Lilly & Co. | 2.14% | 1.33% | 0.81% |
| ABBVAbbvie Inc. | 2.16% | 0.65% | 1.51% |
| DASHDoordash Inc | 2.51% | 0.12% | 2.39% |
59.2% of ANEW 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.
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Frequently Asked Questions
Which is cheaper, ANEW or SPY?
ANEW has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, ANEW or SPY?
Over the past year ANEW returned +4.27% vs +18.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), ANEW annualized +5.66% vs +15.71% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ANEW or SPY?
ANEW has been the more volatile fund at 16.8% annualized versus 15.4% for SPY. Worst drawdown: ANEW -39.9% vs SPY -24.5%.
Should I hold both ANEW and SPY?
ANEW and SPY have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ANEW and SPY?
59.2% of ANEW's money is in holdings SPY also owns. 48.4% of SPY's is in holdings ANEW also owns. They hold 58 positions in common, counted across the 146 positions we hold weights for in ANEW and 504 in SPY.
Which pays a higher dividend, ANEW or SPY?
ANEW yields 0.50% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than ANEW?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. ANEW is less concentrated, with 22.3% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.