CGRO vs SPY
CoreValues Alpha Greater China Growth 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 | CGRO | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.89% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 3.69% | 1.01% | |
| Holdings | 33 | 505 | |
| YTD Return | -17.51% | +13.39% | |
| 1Y Return | -13.88% | +22.52% | |
| 3Y Return (annualized) | +5.89% | +21.36% | |
| 5Y Return (annualized) | +5.89% | +13.19% | |
| Volatility (annualized) | 62.6% | 15.3% | |
| Max Drawdown | -42.1% | -56.5% | |
| Fund Family | CORE VALUES ALPHA | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 16, 2023 | Jan 22, 1993 |
CGRO vs SPY Performance
CoreValues Alpha Greater China Growth ETF (CGRO) is a ETF from CORE VALUES ALPHA and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CGRO returned -13.88% while SPY returned +22.52%. Year to date, CGRO is down 17.51% versus a gain of 13.39% for SPY.
Over three years, CGRO compounded at +5.89% per year against +21.36% for SPY; over five years the annualized figures are +5.89% and +13.19% respectively. Across the full 6-year window we track, CGRO has the edge at +15.45% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGRO has been the more volatile fund, with annualized monthly volatility of 62.6% 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 -42.1% for CGRO 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 -0.11. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CGRO charges 0.89% per year while SPY charges 0.09%. On a $10,000 position that is $89 vs $9 annually, a gap of $80 per year that compounds over a long holding period. On income, CGRO currently yields 3.69% against 1.01% for SPY.
Holdings Overlap
CGRO and SPY share 1 holdings out of 533 unique holdings combined, representing a 1.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CGRO | Weight in SPY | Difference |
|---|---|---|---|
| TSLA | 3.94% | 1.82% | 2.12% |
Frequently Asked Questions
Which is cheaper, CGRO or SPY?
CGRO has an expense ratio of 0.89% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $80 per year of difference.
Which performed better, CGRO or SPY?
Over the past year CGRO returned -13.88% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), CGRO annualized +15.45% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, CGRO or SPY?
CGRO has been the more volatile fund at 62.6% annualized versus 15.3% for SPY. Worst drawdown: CGRO -42.1% vs SPY -56.5%.
Should I hold both CGRO and SPY?
CGRO and SPY have a monthly-return correlation of -0.11, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGRO and SPY?
CGRO and SPY share 1 common holdings with a 1.8% weight overlap. Combined, they hold 533 unique securities.
Which pays a higher dividend, CGRO or SPY?
CGRO yields 3.69% while SPY yields 1.01%, so CGRO currently pays the higher dividend yield.
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