ASLV vs SPY
Allspring Special Large Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ASLV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 40.0%.
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 | ASLV | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $216M | $804.7B |
| Dividend Yield | 0.80% | 0.98% |
| Holdings | 46 | 505 |
| YTD Return | +7.36% | +11.52%Best |
| 1Y Return | +11.38% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 10.5%Best | 12.1% |
| Max Drawdown | -11.0%Best | -12.4% |
| $10,000 over 1.5 years | $12,387 | $13,675Best |
| Top 10 Weight | 40.0% | 38.0%Best |
| Fund Family | Allspring Global Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 26, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Mar 27, 2025 to Sep 10, 2026 (1.5 years).
ASLV 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 1.5 years both funds cover.
ASLV vs SPY Performance
Allspring Special Large Value ETF (ASLV) is an ETF from Allspring Global Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ASLV returned +11.38% while SPY returned +17.48%. Year to date, ASLV is up 7.36% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.1% compared with 10.5% for ASLV. 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 -11.0% for ASLV and -12.4% 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 0.68. They move together some of the time, and apart the rest.
Fees and Cost Over Time
ASLV charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, ASLV currently yields 0.80% against 0.98% for SPY.
Holdings Overlap
83.1% of ASLV's money is in holdings SPY also owns. 32.4% of SPY's money is in holdings ASLV also owns.
Most of ASLV is already inside SPY. Owning both mostly buys the same companies twice.
35 positions in common, counted across the 44 positions we hold weights for in ASLV and 504 in SPY, against full books of 46 and 505.
What only one of them owns
Our book lists 459 positions for SPY that do not appear in our book for ASLV (67.2% of the fund), and 4 for ASLV that do not appear in SPY (6.6%).
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 ASLV | Weight in SPY | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 7.65% | 4.08% | 3.57% |
| AAPLApple, Inc | 3.64% | 6.83% | 3.19% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.79% | 5.50% | 0.71% |
| GOOGAlphabet Inc | 2.94% | 2.67% | 0.27% |
| BRK.BBerkshire Hathaway B | 3.43% | 1.42% | 2.01% |
| AVGOBroadcom Inc | 1.88% | 2.97% | 1.09% |
| JNJJohnson & Johnson | 3.19% | 0.92% | 2.27% |
| NEENextera Energy Inc. | 3.70% | 0.27% | 3.43% |
| COFCapital One Financial Corp. | 3.55% | 0.21% | 3.34% |
| VVisa Inc | 2.52% | 0.92% | 1.60% |
83.1% of ASLV 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.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, ASLV or SPY?
ASLV has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, ASLV or SPY?
Over the past year ASLV returned +11.38% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ASLV annualized +15.34% vs +23.20% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ASLV or SPY?
SPY has been the more volatile fund at 12.1% annualized versus 10.5% for ASLV. Worst drawdown: ASLV -11.0% vs SPY -12.4%.
Should I hold both ASLV and SPY?
ASLV and SPY have a monthly-return correlation of 0.68, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ASLV and SPY?
83.1% of ASLV's money is in holdings SPY also owns. 32.4% of SPY's is in holdings ASLV also owns. They hold 35 positions in common, counted across the 44 positions we hold weights for in ASLV and 504 in SPY.
Which pays a higher dividend, ASLV or SPY?
ASLV yields 0.80% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than ASLV?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 40.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.