COWS vs SPY
Amplify Cash Flow Dividend Leaders ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, COWS or SPY?
Each has led over a different period.
SPY has a lower expense ratio. COWS led over 1Y, SPY over 3Y and the full window. COWS is less concentrated, with 32.8% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | COWS | SPY |
|---|---|---|
| Expense Ratio | 0.19% | 0.09%Best |
| AUM | $44M | $814.4B |
| Dividend Yield | 1.53% | 1.01% |
| Holdings | 42 | 505 |
| YTD Return | +20.62%Best | +13.34% |
| 1Y Return | +26.60%Best | +19.97% |
| 3Y Return (annualized) | +19.57% | +21.20%Best |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 15.7% | 12.4%Best |
| Max Drawdown | -24.8% | -18.8%Best |
| $10,000 over 3 years | $17,095 | $17,989Best |
| Top 10 Weight | 32.8%Best | 38.0% |
| Fund Family | Amplify ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 13, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 13, 2023 to Sep 4, 2026 (3 years).
COWS vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
COWS vs SPY Performance
Amplify Cash Flow Dividend Leaders ETF (COWS) is an ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year COWS returned +26.60% while SPY returned +19.97%. Year to date, COWS is up 20.62% versus a gain of 13.34% for SPY.
Over three years, COWS compounded at +19.57% per year against +21.20% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
COWS has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 12.4% 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 -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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
60.0% of COWS's money is in holdings SPY also owns. 2.0% of SPY's money is in holdings COWS also owns.
The two portfolios partly overlap.
25 positions in common, counted across the 41 positions we hold weights for in COWS and 503 in SPY, against full books of 42 and 505.
What only one of them owns
Our book lists 469 positions for SPY that do not appear in our book for COWS (97.4% of the fund), and 16 for COWS that do not appear in SPY (39.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in COWS | Weight in SPY | Difference |
|---|---|---|---|
| BKNGBooking Holdings, Inc. | 3.54% | 0.23% | 3.31% |
| WSMWilliams-sonoma Inc | 3.23% | 0.04% | 3.19% |
| ROPROPER TECHNOLOGIES INC | 3.19% | 0.06% | 3.13% |
| INTUIntuitinc. | 3.04% | 0.13% | 2.91% |
| CORCencora Inc | 3.02% | 0.09% | 2.93% |
| MCKMckesson Corp. | 2.92% | 0.15% | 2.77% |
| HASHasbro Inc | 3.02% | 0.02% | 3.00% |
| AVYAvery Dennison Corp. | 3.01% | 0.02% | 2.99% |
| FDXFedex Corp. | 2.65% | 0.10% | 2.55% |
| EQTEqt Corp. | 2.61% | 0.05% | 2.56% |
60.0% of COWS is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $10 a year on a $10,000 investment.
Which performed better, COWS or SPY?
Over the past year COWS returned +26.60% vs +19.97% for SPY, so COWS leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, COWS or SPY?
COWS has been the more volatile fund at 15.7% annualized versus 12.4% for SPY. Worst drawdown: COWS -24.8% vs SPY -18.8%.
Should I hold both COWS and SPY?
COWS and SPY have a monthly-return correlation of 0.73, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between COWS and SPY?
60.0% of COWS's money is in holdings SPY also owns. 2.0% of SPY's is in holdings COWS also owns. They hold 25 positions in common, counted across the 41 positions we hold weights for in COWS and 503 in SPY.
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.
Is SPY better than COWS?
SPY has a lower expense ratio. COWS led over 1Y, SPY over 3Y and the full window. COWS is less concentrated, with 32.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.