ASIA vs SPY
Matthews Pacific Tiger Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ASIA delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ASIA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $52M | $821.1B | |
| Dividend Yield | 0.91% | 1.01% | |
| Holdings | 74 | 505 | |
| YTD Return | +18.17% | +12.68% | |
| 1Y Return | +36.50% | +21.82% | |
| 3Y Return (annualized) | +18.89% | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 18.8% | 15.3% | |
| Max Drawdown | -23.9% | -56.5% | |
| Fund Family | Matthews Asia Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 21, 2023 | Jan 22, 1993 |
ASIA vs SPY Performance
Matthews Pacific Tiger Active ETF (ASIA) is a ETF from Matthews Asia Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ASIA returned +36.50% while SPY returned +21.82%. Year to date, ASIA is up 18.17% versus a gain of 12.68% for SPY.
Over three years, ASIA compounded at +18.89% per year against +21.98% for SPY. Across the full 3-year window we track, ASIA has the edge at +18.89% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ASIA has been the more volatile fund, with annualized monthly volatility of 18.8% 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 -23.9% for ASIA 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 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ASIA 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, ASIA currently yields 0.91% against 1.01% for SPY.
Holdings Overlap
ASIA and SPY share 0 holdings out of 561 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, ASIA or SPY?
ASIA 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, ASIA or SPY?
Over the past year ASIA returned +36.50% vs +21.82% for SPY, so ASIA leads on 1-year performance. Over the longest common window we track (3 years), ASIA annualized +18.89% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, ASIA or SPY?
ASIA has been the more volatile fund at 18.8% annualized versus 15.3% for SPY. Worst drawdown: ASIA -23.9% vs SPY -56.5%.
Should I hold both ASIA and SPY?
ASIA and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ASIA and SPY?
ASIA and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 561 unique securities.
Which pays a higher dividend, ASIA or SPY?
ASIA yields 0.91% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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