CWS vs SPY
AdvisorShares Focused Equity 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 | CWS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $134M | $821.1B | |
| Dividend Yield | 0.29% | 1.01% | |
| Holdings | 27 | 505 | |
| YTD Return | +5.79% | +12.93% | |
| 1Y Return | +6.33% | +20.62% | |
| 3Y Return (annualized) | +11.04% | +22.00% | |
| 5Y Return (annualized) | +8.91% | +13.33% | |
| Volatility (annualized) | 16.2% | 15.3% | |
| Max Drawdown | -33.8% | -56.5% | |
| Fund Family | Advisor Shares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 20, 2016 | Jan 22, 1993 |
CWS vs SPY Performance
AdvisorShares Focused Equity ETF (CWS) is a ETF from Advisor Shares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CWS returned +6.33% while SPY returned +20.62%. Year to date, CWS is up 5.79% versus a gain of 12.93% for SPY.
Over three years, CWS compounded at +11.04% per year against +22.00% for SPY; over five years the annualized figures are +8.91% and +13.33% respectively. Across the full 10-year window we track, CWS has the edge at +11.83% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CWS has been the more volatile fund, with annualized monthly volatility of 16.2% 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 -33.8% for CWS 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CWS charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, CWS currently yields 0.29% against 1.01% for SPY.
Holdings Overlap
CWS and SPY share 19 holdings out of 511 unique holdings combined, representing a 2.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CWS or SPY?
CWS has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, CWS or SPY?
Over the past year CWS returned +6.33% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), CWS annualized +11.83% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CWS or SPY?
CWS has been the more volatile fund at 16.2% annualized versus 15.3% for SPY. Worst drawdown: CWS -33.8% vs SPY -56.5%.
Should I hold both CWS and SPY?
CWS and SPY have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CWS and SPY?
CWS and SPY share 19 common holdings with a 2.2% weight overlap. Combined, they hold 511 unique securities.
Which pays a higher dividend, CWS or SPY?
CWS yields 0.29% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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