APOC vs SPY
Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct 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 | APOC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $70M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | +0.82% | +13.75% | |
| 1Y Return | +2.70% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 3.7% | 15.3% | |
| Max Drawdown | -4.2% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 1, 2024 | Jan 22, 1993 |
APOC vs SPY Performance
Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct (APOC) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year APOC returned +2.70% while SPY returned +22.91%. Year to date, APOC is up 0.82% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.7% for APOC. 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 -4.2% for APOC 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
APOC charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, APOC currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
APOC and SPY share 0 holdings out of 504 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, APOC or SPY?
APOC has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, APOC or SPY?
Over the past year APOC returned +2.70% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), APOC annualized +2.69% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, APOC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.7% for APOC. Worst drawdown: APOC -4.2% vs SPY -56.5%.
Should I hold both APOC and SPY?
APOC and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between APOC and SPY?
APOC and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, APOC or SPY?
APOC yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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