APUE vs SPY
ActivePassive US Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. APUE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | APUE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.31% | 0.09% | |
| AUM | $2.4B | $789.1B | |
| Dividend Yield | 0.75% | 1.01% | |
| Holdings | 442 | 505 | |
| YTD Return | +14.36% | +13.68% | |
| 1Y Return | +22.84% | +21.53% | |
| 3Y Return (annualized) | +21.12% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 13.0% | 15.3% | |
| Max Drawdown | -19.1% | -56.5% | |
| Fund Family | Envestnet Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 3, 2023 | Jan 22, 1993 |
APUE vs SPY Performance
ActivePassive US Equity ETF (APUE) is a ETF from Envestnet Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year APUE returned +22.84% while SPY returned +21.53%. Year to date, APUE is up 14.36% versus a gain of 13.68% for SPY.
Over three years, APUE compounded at +21.12% per year against +21.44% for SPY. Across the full 3-year window we track, APUE has the edge at +22.79% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.0% for APUE. 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 -19.1% for APUE 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 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
APUE charges 0.31% per year while SPY charges 0.09%. On a $10,000 position that is $31 vs $9 annually, a gap of $22 per year that compounds over a long holding period. On income, APUE currently yields 0.75% against 1.01% for SPY.
Holdings Overlap
APUE and SPY share 380 holdings out of 559 unique holdings combined, representing a 78.7% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, APUE or SPY?
APUE has an expense ratio of 0.31% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, APUE or SPY?
Over the past year APUE returned +22.84% vs +21.53% for SPY, so APUE leads on 1-year performance. Over the longest common window we track (3 years), APUE annualized +22.79% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, APUE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.0% for APUE. Worst drawdown: APUE -19.1% vs SPY -56.5%.
Should I hold both APUE and SPY?
APUE and SPY have a monthly-return correlation of 0.99, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between APUE and SPY?
APUE and SPY share 380 common holdings with a 78.7% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, APUE or SPY?
APUE yields 0.75% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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