AVSF vs SPY
Avantis Short-Term 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. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | AVSF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $653M | $789.1B | |
| Dividend Yield | 4.35% | 1.01% | |
| Holdings | 496 | 505 | |
| YTD Return | +1.02% | +13.68% | |
| 1Y Return | +4.33% | +21.53% | |
| 3Y Return (annualized) | +2.84% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 2.9% | 15.3% | |
| Max Drawdown | -8.8% | -56.5% | |
| Fund Family | Avantis Investors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 14, 2020 | Jan 22, 1993 |
AVSF vs SPY Performance
Avantis Short-Term Fixed Income ETF (AVSF) 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 AVSF returned +4.33% while SPY returned +21.53%. Year to date, AVSF is up 1.02% versus a gain of 13.68% for SPY.
Over three years, AVSF compounded at +2.84% per year against +21.44% for SPY. Across the full 5-year window we track, SPY has the edge at +8.85% annualized vs +0.78%. 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 2.9% for AVSF. 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 -8.8% for AVSF 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AVSF 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, AVSF currently yields 4.35% against 1.01% for SPY.
Holdings Overlap
AVSF and SPY share 1 holdings out of 968 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AVSF | Weight in SPY | Difference |
|---|---|---|---|
| KDP | 0.08% | 0.07% | 0.01% |
Frequently Asked Questions
Which is cheaper, AVSF or SPY?
AVSF 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, AVSF or SPY?
Over the past year AVSF returned +4.33% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), AVSF annualized +0.78% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AVSF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 2.9% for AVSF. Worst drawdown: AVSF -8.8% vs SPY -56.5%.
Should I hold both AVSF and SPY?
AVSF and SPY have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AVSF and SPY?
AVSF and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 968 unique securities.
Which pays a higher dividend, AVSF or SPY?
AVSF yields 4.35% while SPY yields 1.01%, so AVSF currently pays the higher dividend yield.
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