CVAR vs SPY
Cultivar 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 505 holdings.
Side-by-Side Comparison
| Metric | CVAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.87% | 0.09% | |
| AUM | $44M | $821.1B | |
| Dividend Yield | 1.36% | 1.01% | |
| Holdings | 89 | 505 | |
| YTD Return | +12.17% | +13.21% | |
| 1Y Return | +15.32% | +19.87% | |
| 3Y Return (annualized) | +11.21% | +21.16% | |
| 5Y Return (annualized) | - | +12.74% | |
| Volatility (annualized) | 15.8% | 15.3% | |
| Max Drawdown | -19.4% | -56.5% | |
| Fund Family | Cultivar ETF | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 22, 2021 | Jan 22, 1993 |
CVAR vs SPY Performance
Cultivar ETF (CVAR) is a ETF from Cultivar ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CVAR returned +15.32% while SPY returned +19.87%. Year to date, CVAR is up 12.17% versus a gain of 13.21% for SPY.
Over three years, CVAR compounded at +11.21% per year against +21.16% for SPY. Across the full 5-year window we track, SPY has the edge at +8.82% annualized vs +7.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVAR 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 -19.4% for CVAR 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
CVAR charges 0.87% per year while SPY charges 0.09%. On a $10,000 position that is $87 vs $9 annually, a gap of $78 per year that compounds over a long holding period. On income, CVAR currently yields 1.36% against 1.01% for SPY.
Holdings Overlap
CVAR and SPY share 48 holdings out of 545 unique holdings combined, representing a 4.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVAR or SPY?
CVAR has an expense ratio of 0.87% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $78 per year of difference.
Which performed better, CVAR or SPY?
Over the past year CVAR returned +15.32% vs +19.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), CVAR annualized +7.41% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CVAR or SPY?
CVAR has been the more volatile fund at 15.8% annualized versus 15.3% for SPY. Worst drawdown: CVAR -19.4% vs SPY -56.5%.
Should I hold both CVAR and SPY?
CVAR 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 CVAR and SPY?
CVAR and SPY share 48 common holdings with a 4.3% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, CVAR or SPY?
CVAR yields 1.36% while SPY yields 1.01%, so CVAR currently pays the higher dividend yield.
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