BUYW vs SPY
Main BuyWrite 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 505 holdings.
Side-by-Side Comparison
| Metric | BUYW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.99% | 0.09% | |
| AUM | $1.3B | $821.1B | |
| Dividend Yield | 5.92% | 1.01% | |
| Holdings | 21 | 505 | |
| YTD Return | +2.59% | +12.71% | |
| 1Y Return | +5.03% | +20.53% | |
| 3Y Return (annualized) | +7.65% | +21.60% | |
| 5Y Return (annualized) | - | +12.79% | |
| Volatility (annualized) | 4.6% | 15.3% | |
| Max Drawdown | -9.4% | -56.5% | |
| Fund Family | Main Management Fund Advisors, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 29, 2015 | Jan 22, 1993 |
BUYW vs SPY Performance
Main BuyWrite ETF (BUYW) is a ETF from Main Management Fund Advisors, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BUYW returned +5.03% while SPY returned +20.53%. Year to date, BUYW is up 2.59% versus a gain of 12.71% for SPY.
Over three years, BUYW compounded at +7.65% per year against +21.60% for SPY. Across the full 4-year window we track, BUYW has the edge at +8.80% 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 4.6% for BUYW. 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 -9.4% for BUYW 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BUYW charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, BUYW currently yields 5.92% against 1.01% for SPY.
Holdings Overlap
BUYW and SPY share 0 holdings out of 513 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, BUYW or SPY?
BUYW has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $90 per year of difference.
Which performed better, BUYW or SPY?
Over the past year BUYW returned +5.03% vs +20.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), BUYW annualized +8.80% vs +8.80% for SPY. Past performance does not guarantee future results.
Which is riskier, BUYW or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.6% for BUYW. Worst drawdown: BUYW -9.4% vs SPY -56.5%.
Should I hold both BUYW and SPY?
BUYW and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BUYW and SPY?
BUYW and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, BUYW or SPY?
BUYW yields 5.92% while SPY yields 1.01%, so BUYW currently pays the higher dividend yield.
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