AVMU vs SPY
Avantis Core Municipal Fixed Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. AVMU offers more diversification with 541 holdings.
Side-by-Side Comparison
| Metric | AVMU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $173M | $821.1B | |
| Dividend Yield | 3.57% | 1.01% | |
| Holdings | 541 | 505 | |
| YTD Return | -0.47% | +12.22% | |
| 1Y Return | +5.62% | +20.83% | |
| 3Y Return (annualized) | +3.05% | +21.70% | |
| 5Y Return (annualized) | +0.40% | +12.98% | |
| Volatility (annualized) | 6.0% | 15.3% | |
| Max Drawdown | -12.4% | -56.5% | |
| Fund Family | Avantis Investors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 10, 2020 | Jan 22, 1993 |
AVMU vs SPY Performance
Avantis Core Municipal Fixed Income ETF (AVMU) 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 AVMU returned +5.62% while SPY returned +20.83%. Year to date, AVMU is down 0.47% versus a gain of 12.22% for SPY.
Over three years, AVMU compounded at +3.05% per year against +21.70% for SPY; over five years the annualized figures are +0.40% and +12.98% respectively. Across the full 6-year window we track, SPY has the edge at +8.79% annualized vs +0.48%. 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 6.0% for AVMU. 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 -12.4% for AVMU 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AVMU 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, AVMU currently yields 3.57% against 1.01% for SPY.
Holdings Overlap
AVMU and SPY share 0 holdings out of 805 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, AVMU or SPY?
AVMU 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, AVMU or SPY?
Over the past year AVMU returned +5.62% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), AVMU annualized +0.48% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, AVMU or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.0% for AVMU. Worst drawdown: AVMU -12.4% vs SPY -56.5%.
Should I hold both AVMU and SPY?
AVMU and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVMU and SPY?
AVMU and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 805 unique securities.
Which pays a higher dividend, AVMU or SPY?
AVMU yields 3.57% while SPY yields 1.01%, so AVMU currently pays the higher dividend yield.
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