CAS vs SPY
Simplify China A Shares PLUS 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 | CAS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.88% | 0.09% | |
| AUM | $12M | $789.1B | |
| Dividend Yield | 20.81% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +10.68% | +14.47% | |
| 1Y Return | -0.10% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 28.2% | 15.3% | |
| Max Drawdown | -24.1% | -56.5% | |
| Fund Family | Simplify Exchange Traded Funds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 13, 2025 | Jan 22, 1993 |
CAS vs SPY Performance
Simplify China A Shares PLUS Income ETF (CAS) is a ETF from Simplify Exchange Traded Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CAS returned -0.10% while SPY returned +21.96%. Year to date, CAS is up 10.68% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
CAS has been the more volatile fund, with annualized monthly volatility of 28.2% compared with 15.3% 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 -24.1% for CAS 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CAS charges 0.88% per year while SPY charges 0.09%. On a $10,000 position that is $88 vs $9 annually, a gap of $79 per year that compounds over a long holding period. On income, CAS currently yields 20.81% against 1.01% for SPY.
Holdings Overlap
CAS and SPY share 0 holdings out of 504 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, CAS or SPY?
CAS has an expense ratio of 0.88% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $79 per year of difference.
Which performed better, CAS or SPY?
Over the past year CAS returned -0.10% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CAS annualized +19.19% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, CAS or SPY?
CAS has been the more volatile fund at 28.2% annualized versus 15.3% for SPY. Worst drawdown: CAS -24.1% vs SPY -56.5%.
Should I hold both CAS and SPY?
CAS and SPY have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CAS and SPY?
CAS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, CAS or SPY?
CAS yields 20.81% while SPY yields 1.01%, so CAS currently pays the higher dividend yield.
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