DAK vs SPY
Dakota Active 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 503 holdings.
Side-by-Side Comparison
| Metric | DAK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.43% | 0.09% | |
| AUM | $42M | $789.1B | |
| Dividend Yield | 0.76% | 1.01% | |
| Holdings | 170 | 505 | |
| YTD Return | +13.88% | +14.47% | |
| 1Y Return | +20.32% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 12.2% | 15.3% | |
| Max Drawdown | -7.9% | -56.5% | |
| Fund Family | Dakota | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 30, 2025 | Jan 22, 1993 |
DAK vs SPY Performance
Dakota Active Equity ETF (DAK) is a ETF from Dakota and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DAK returned +20.32% while SPY returned +21.96%. Year to date, DAK is up 13.88% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.2% for DAK. 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 -7.9% for DAK 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 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
DAK charges 0.43% per year while SPY charges 0.09%. On a $10,000 position that is $43 vs $9 annually, a gap of $34 per year that compounds over a long holding period. On income, DAK currently yields 0.76% against 1.01% for SPY.
Holdings Overlap
DAK and SPY share 116 holdings out of 525 unique holdings combined, representing a 41.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DAK or SPY?
DAK has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $34 per year of difference.
Which performed better, DAK or SPY?
Over the past year DAK returned +20.32% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), DAK annualized +21.40% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, DAK or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.2% for DAK. Worst drawdown: DAK -7.9% vs SPY -56.5%.
Should I hold both DAK and SPY?
DAK and SPY have a monthly-return correlation of 0.98, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between DAK and SPY?
DAK and SPY share 116 common holdings with a 41.3% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, DAK or SPY?
DAK yields 0.76% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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