AVLC vs SPY
Avantis US Large Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. AVLC delivered stronger 1-year returns. AVLC offers more diversification with 856 holdings.
Side-by-Side Comparison
| Metric | AVLC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $1.5B | $821.1B | |
| Dividend Yield | 0.82% | 1.01% | |
| Holdings | 856 | 505 | |
| YTD Return | +16.10% | +12.71% | |
| 1Y Return | +24.69% | +20.53% | |
| 3Y Return (annualized) | +24.50% | +21.60% | |
| 5Y Return (annualized) | - | +12.79% | |
| Volatility (annualized) | 12.9% | 15.3% | |
| Max Drawdown | -19.6% | -56.5% | |
| Fund Family | Avantis Investors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 26, 2023 | Jan 22, 1993 |
AVLC vs SPY Performance
Avantis US Large Cap Equity ETF (AVLC) 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 AVLC returned +24.69% while SPY returned +20.53%. Year to date, AVLC is up 16.10% versus a gain of 12.71% for SPY.
Over three years, AVLC compounded at +24.50% per year against +21.60% for SPY. Across the full 3-year window we track, AVLC has the edge at +24.50% annualized vs +8.80%. 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 12.9% for AVLC. 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 -19.6% for AVLC 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AVLC charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, AVLC currently yields 0.82% against 1.01% for SPY.
Holdings Overlap
AVLC and SPY share 433 holdings out of 880 unique holdings combined, representing a 72.0% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, AVLC or SPY?
AVLC has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, AVLC or SPY?
Over the past year AVLC returned +24.69% vs +20.53% for SPY, so AVLC leads on 1-year performance. Over the longest common window we track (3 years), AVLC annualized +24.50% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, AVLC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.9% for AVLC. Worst drawdown: AVLC -19.6% vs SPY -56.5%.
Should I hold both AVLC and SPY?
AVLC and SPY have a monthly-return correlation of 0.98, 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 AVLC and SPY?
AVLC and SPY share 433 common holdings with a 72.0% weight overlap. Combined, they hold 880 unique securities.
Which pays a higher dividend, AVLC or SPY?
AVLC yields 0.82% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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