CPAI vs SPY
Counterpoint Quantitative Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. CPAI delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CPAI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $437M | $821.1B | |
| Dividend Yield | 0.71% | 1.01% | |
| Holdings | 52 | 505 | |
| YTD Return | +28.25% | +12.22% | |
| 1Y Return | +43.87% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 17.0% | 15.3% | |
| Max Drawdown | -21.5% | -56.5% | |
| Fund Family | Counterpoint Mutual Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 28, 2023 | Jan 22, 1993 |
CPAI vs SPY Performance
Counterpoint Quantitative Equity ETF (CPAI) is a ETF from Counterpoint Mutual Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CPAI returned +43.87% while SPY returned +20.83%. Year to date, CPAI is up 28.25% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
CPAI has been the more volatile fund, with annualized monthly volatility of 17.0% 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 -21.5% for CPAI 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPAI charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, CPAI currently yields 0.71% against 1.01% for SPY.
Holdings Overlap
CPAI and SPY share 23 holdings out of 531 unique holdings combined, representing a 7.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CPAI or SPY?
CPAI has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CPAI or SPY?
Over the past year CPAI returned +43.87% vs +20.83% for SPY, so CPAI leads on 1-year performance. Over the longest common window we track (3 years), CPAI annualized +31.10% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, CPAI or SPY?
CPAI has been the more volatile fund at 17.0% annualized versus 15.3% for SPY. Worst drawdown: CPAI -21.5% vs SPY -56.5%.
Should I hold both CPAI and SPY?
CPAI and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CPAI and SPY?
CPAI and SPY share 23 common holdings with a 7.6% weight overlap. Combined, they hold 531 unique securities.
Which pays a higher dividend, CPAI or SPY?
CPAI yields 0.71% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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