ASMF vs SPY
Virtus AlphaSimplex Managed Futures ETF 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 505 holdings.
Side-by-Side Comparison
| Metric | ASMF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $30M | $821.1B | |
| Dividend Yield | 0.20% | 1.01% | |
| Holdings | 22 | 505 | |
| YTD Return | +8.50% | +13.47% | |
| 1Y Return | +15.17% | +20.57% | |
| 3Y Return (annualized) | - | +21.83% | |
| 5Y Return (annualized) | - | +12.88% | |
| Volatility (annualized) | 8.5% | 15.3% | |
| Max Drawdown | -15.3% | -56.5% | |
| Fund Family | Virtus Investment Partners | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | May 15, 2024 | Jan 22, 1993 |
ASMF vs SPY Performance
Virtus AlphaSimplex Managed Futures ETF (ASMF) is a ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ASMF returned +15.17% while SPY returned +20.57%. Year to date, ASMF is up 8.50% versus a gain of 13.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.5% for ASMF. 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 -15.3% for ASMF 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 0.33. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ASMF charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, ASMF currently yields 0.20% against 1.01% for SPY.
Holdings Overlap
ASMF and SPY share 0 holdings out of 505 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, ASMF or SPY?
ASMF has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, ASMF or SPY?
Over the past year ASMF returned +15.17% vs +20.57% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), ASMF annualized +2.79% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, ASMF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.5% for ASMF. Worst drawdown: ASMF -15.3% vs SPY -56.5%.
Should I hold both ASMF and SPY?
ASMF and SPY have a monthly-return correlation of 0.33, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ASMF and SPY?
ASMF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, ASMF or SPY?
ASMF yields 0.20% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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