AVIV vs SPY
Avantis International Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AVIV delivered stronger 1-year returns. AVIV offers more diversification with 620 holdings.
Side-by-Side Comparison
| Metric | AVIV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $2.1B | $821.1B | |
| Dividend Yield | 2.46% | 1.01% | |
| Holdings | 620 | 505 | |
| YTD Return | +16.43% | +12.22% | |
| 1Y Return | +29.55% | +20.83% | |
| 3Y Return (annualized) | +23.80% | +21.70% | |
| 5Y Return (annualized) | +14.39% | +12.98% | |
| Volatility (annualized) | 16.1% | 15.3% | |
| Max Drawdown | -27.7% | -56.5% | |
| Fund Family | Avantis Investors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 29, 2021 | Jan 22, 1993 |
AVIV vs SPY Performance
Avantis International Large Cap Value ETF (AVIV) is a ETF from Avantis Investors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AVIV returned +29.55% while SPY returned +20.83%. Year to date, AVIV is up 16.43% versus a gain of 12.22% for SPY.
Over three years, AVIV compounded at +23.80% per year against +21.70% for SPY; over five years the annualized figures are +14.39% and +12.98% respectively. Across the full 5-year window we track, AVIV has the edge at +14.39% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVIV has been the more volatile fund, with annualized monthly volatility of 16.1% 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 -27.7% for AVIV 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 0.71. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVIV charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, AVIV currently yields 2.46% against 1.01% for SPY.
Holdings Overlap
AVIV and SPY share 1 holdings out of 1092 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AVIV | Weight in SPY | Difference |
|---|---|---|---|
| CCL | 0.04% | 0.06% | 0.02% |
Frequently Asked Questions
Which is cheaper, AVIV or SPY?
AVIV has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, AVIV or SPY?
Over the past year AVIV returned +29.55% vs +20.83% for SPY, so AVIV leads on 1-year performance. Over the longest common window we track (5 years), AVIV annualized +14.39% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, AVIV or SPY?
AVIV has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: AVIV -27.7% vs SPY -56.5%.
Should I hold both AVIV and SPY?
AVIV and SPY have a monthly-return correlation of 0.71, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVIV and SPY?
AVIV and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1092 unique securities.
Which pays a higher dividend, AVIV or SPY?
AVIV yields 2.46% while SPY yields 1.01%, so AVIV currently pays the higher dividend yield.
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