CWS vs SPY
AdvisorShares Focused Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CWS or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 51.9%.
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 | CWS | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $131M | $814.4B |
| Dividend Yield | 0.29% | 1.01% |
| Holdings | 27 | 505 |
| YTD Return | +3.90% | +13.34%Best |
| 1Y Return | +4.08% | +19.97%Best |
| 3Y Return (annualized) | +9.58% | +21.20%Best |
| 5Y Return (annualized) | +8.25% | +12.81%Best |
| Volatility (annualized) | 16.1% | 15.4%Best |
| Max Drawdown | -33.8%Best | -34.1% |
| $10,000 over 5 years | $14,864 | $18,270Best |
| Top 10 Weight | 51.9% | 38.0%Best |
| Fund Family | Advisor Shares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Sep 20, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 21, 2016 to Sep 4, 2026 (10 years).
CWS 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 10 years both funds cover.
CWS vs SPY Performance
AdvisorShares Focused Equity ETF (CWS) is an ETF from Advisor Shares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CWS returned +4.08% while SPY returned +19.97%. Year to date, CWS is up 3.90% versus a gain of 13.34% for SPY.
Over three years, CWS compounded at +9.58% per year against +21.20% for SPY; over five years the annualized figures are +8.25% and +12.81% respectively. Across the full 10-year window we track, SPY has the edge at +14.49% annualized vs +11.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CWS has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.4% 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 -33.8% for CWS and -34.1% 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 0.87. 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
70.6% of CWS's money is in holdings SPY also owns. 2.2% of SPY's money is in holdings CWS also owns.
Most of CWS is already inside SPY. Owning both mostly buys the same companies twice.
19 positions in common, counted across the 26 positions we hold weights for in CWS and 503 in SPY, against full books of 27 and 505.
What only one of them owns
Measured across the 26 and 503 positions we hold weights for.
SPY holds 474 positions CWS does not, 97.2% of the fund.
Largest: NVDA 7.71%, AAPL 6.83%, MSFT 5.50%, AMZN 4.08%, GOOGL 3.33%
Top Shared Holdings
| Stock | Weight in CWS | Weight in SPY | Difference |
|---|---|---|---|
| FIXComfort Systems Usa Inc Common Stock | 7.58% | 0.09% | 7.49% |
| CASYCasey's General Stores Inc | 5.84% | 0.05% | 5.79% |
| APHAmphenol Corp. Class A | 4.72% | 0.32% | 4.40% |
| HSICHenry Schein, Inc. | 4.42% | 0.01% | 4.41% |
| TMOThermo Fisherscientific Inc. | 3.83% | 0.32% | 3.51% |
| MCKMckesson Corp. | 3.94% | 0.15% | 3.79% |
| AWKAmerican Water Works Co. Inc. | 3.84% | 0.04% | 3.80% |
| SYKStryker Corp 3.375 11/25 | 3.54% | 0.17% | 3.37% |
| MCOMoody'S Corp Common | 3.59% | 0.11% | 3.48% |
| ICEInterContinental Hotels Group PLC Ord Gbp0.208521303 | 3.57% | 0.13% | 3.44% |
70.6% of CWS 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, CWS or SPY?
CWS has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, CWS or SPY?
Over the past year CWS returned +4.08% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), CWS annualized +11.57% vs +14.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CWS or SPY?
CWS has been the more volatile fund at 16.1% annualized versus 15.4% for SPY. Worst drawdown: CWS -33.8% vs SPY -34.1%.
Should I hold both CWS and SPY?
CWS and SPY have a monthly-return correlation of 0.87, 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 CWS and SPY?
70.6% of CWS's money is in holdings SPY also owns. 2.2% of SPY's is in holdings CWS also owns. They hold 19 positions in common, counted across the 26 positions we hold weights for in CWS and 503 in SPY.
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.
Is SPY better than CWS?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 51.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.