COWS vs SPY
Amplify Cash Flow Dividend Leaders ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. COWS delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | COWS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.09% | |
| AUM | $43M | $821.1B | |
| Dividend Yield | 1.53% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | +19.19% | +13.70% | |
| 1Y Return | +30.15% | +21.44% | |
| 3Y Return (annualized) | +19.44% | +22.50% | |
| 5Y Return (annualized) | - | +13.24% | |
| Volatility (annualized) | 15.8% | 15.3% | |
| Max Drawdown | -24.8% | -56.5% | |
| Fund Family | Amplify ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 13, 2023 | Jan 22, 1993 |
COWS vs SPY Performance
Amplify Cash Flow Dividend Leaders ETF (COWS) is a ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year COWS returned +30.15% while SPY returned +21.44%. Year to date, COWS is up 19.19% versus a gain of 13.70% for SPY.
Over three years, COWS compounded at +19.44% per year against +22.50% for SPY. Across the full 3-year window we track, COWS has the edge at +19.44% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
COWS has been the more volatile fund, with annualized monthly volatility of 15.8% 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 -24.8% for COWS 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
COWS charges 0.19% per year while SPY charges 0.09%. On a $10,000 position that is $19 vs $9 annually, a gap of $10 per year that compounds over a long holding period. On income, COWS currently yields 1.53% against 1.01% for SPY.
Holdings Overlap
COWS and SPY share 24 holdings out of 521 unique holdings combined, representing a 1.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, COWS or SPY?
COWS has an expense ratio of 0.19% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, COWS or SPY?
Over the past year COWS returned +30.15% vs +21.44% for SPY, so COWS leads on 1-year performance. Over the longest common window we track (3 years), COWS annualized +19.44% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, COWS or SPY?
COWS has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: COWS -24.8% vs SPY -56.5%.
Should I hold both COWS and SPY?
COWS and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between COWS and SPY?
COWS and SPY share 24 common holdings with a 1.8% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, COWS or SPY?
COWS yields 1.53% while SPY yields 1.01%, so COWS currently pays the higher dividend yield.
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