AVLV vs SPY
Avantis US Large Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AVLV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. AVLV led over 1Y, 3Y, 5Y and the full window. AVLV is less concentrated, with 25.6% of the fund in its ten largest positions against 37.8%.
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 | AVLV | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $21.5B | $804.7B |
| Dividend Yield | 1.04% | 0.98% |
| Holdings | 274 | 505 |
| YTD Return | +20.74%Best | +12.09% |
| 1Y Return | +28.51%Best | +16.29% |
| 3Y Return (annualized) | +21.41%Best | +21.20% |
| 5Y Return (annualized) | +14.30%Best | +13.37% |
| Volatility (annualized) | 16.6% | 15.7%Best |
| Max Drawdown | -19.5%Best | -24.5% |
| $10,000 over 5 years | $19,509Best | $18,728 |
| Top 10 Weight | 25.6%Best | 37.8% |
| Fund Family | Avantis Investors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 21, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 23, 2021 to Sep 18, 2026 (5 years).
AVLV 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 5 years both funds cover.
AVLV vs SPY Performance
Avantis US Large Cap Value ETF (AVLV) is an ETF from Avantis Investors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year AVLV returned +28.51% while SPY returned +16.29%. Year to date, AVLV is up 20.74% versus a gain of 12.09% for SPY.
Over three years, AVLV compounded at +21.41% per year against +21.20% for SPY; over five years the annualized figures are +14.30% and +13.37% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVLV has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 15.7% 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 -19.5% for AVLV and -24.5% 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVLV 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, AVLV currently yields 1.04% against 0.98% for SPY.
Holdings Overlap
82.6% of AVLV's money is in holdings SPY also owns. 40.1% of SPY's money is in holdings AVLV also owns.
Most of AVLV is already inside SPY. Owning both mostly buys the same companies twice.
139 positions in common, counted across the 299 positions we hold weights for in AVLV and 504 in SPY, against full books of 274 and 505.
What only one of them owns
Our book lists 359 positions for SPY that do not appear in our book for AVLV (59.4% of the fund), and 141 for AVLV that do not appear in SPY (16.5%).
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 AVLV | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.63% | 7.26% | 4.63% |
| MSFTMicrosoft Corp | 3.28% | 5.66% | 2.38% |
| AMZNAmazon.Com Inc | 2.87% | 3.79% | 0.92% |
| METAMeta Platforms Inc | 2.81% | 1.93% | 0.88% |
| MUMicron Technology, Inc. | 2.96% | 1.60% | 1.36% |
| JPMJpmorgan Chase | 2.71% | 1.45% | 1.26% |
| LLYEli Lilly & Co. | 2.00% | 1.40% | 0.60% |
| XOMExxon Mobil Corp. | 2.35% | 1.04% | 1.31% |
| COSTCostco Wholesale Corp. | 2.24% | 0.63% | 1.61% |
| CATCaterpillar, Inc. | 1.52% | 0.55% | 0.97% |
82.6% of AVLV 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, AVLV or SPY?
AVLV has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, AVLV or SPY?
Over the past year AVLV returned +28.51% vs +16.29% for SPY, so AVLV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AVLV or SPY?
AVLV has been the more volatile fund at 16.6% annualized versus 15.7% for SPY. Worst drawdown: AVLV -19.5% vs SPY -24.5%.
Should I hold both AVLV and SPY?
AVLV and SPY have a monthly-return correlation of 0.89, 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 AVLV and SPY?
82.6% of AVLV's money is in holdings SPY also owns. 40.1% of SPY's is in holdings AVLV also owns. They hold 139 positions in common, counted across the 299 positions we hold weights for in AVLV and 504 in SPY.
Which pays a higher dividend, AVLV or SPY?
AVLV yields 1.04% while SPY yields 0.98%, so AVLV currently pays the higher dividend yield.
Is SPY better than AVLV?
SPY has a lower expense ratio. AVLV led over 1Y, 3Y, 5Y and the full window. AVLV is less concentrated, with 25.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.