DAK vs SPY
Dakota Active Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, DAK or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. DAK is less concentrated, with 32.9% of the fund in its ten largest positions against 37.8%.
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 | DAK | SPY |
|---|---|---|
| Expense Ratio | 0.43% | 0.09%Best |
| AUM | $44M | $804.7B |
| Dividend Yield | 0.73% | 0.98% |
| Holdings | 140 | 505 |
| YTD Return | +12.17%Best | +12.09% |
| 1Y Return | +15.26% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 11.8%Best | 12.4% |
| Max Drawdown | -7.9%Best | -8.9% |
| $10,000 over 1.1 years | $11,973 | $12,064Best |
| Top 10 Weight | 32.9%Best | 37.8% |
| Fund Family | Dakota | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jul 30, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Jul 30, 2025 to Sep 18, 2026 (1.1 years).
DAK 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 1.1 years both funds cover.
DAK vs SPY Performance
Dakota Active Equity ETF (DAK) is an ETF from Dakota and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DAK returned +15.26% while SPY returned +16.29%. Year to date, DAK is up 12.17% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 11.8% 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 -8.9% 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 0.98. 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 0.73% against 0.98% for SPY.
Holdings Overlap
78.5% of DAK's money is in holdings SPY also owns. 61.0% of SPY's money is in holdings DAK also owns.
Most of DAK is already inside SPY. Owning both mostly buys the same companies twice.
116 positions in common, counted across the 139 positions we hold weights for in DAK and 504 in SPY, against full books of 140 and 505.
What only one of them owns
Our book lists 381 positions for SPY that do not appear in our book for DAK (38.4% of the fund), and 20 for DAK that do not appear in SPY (21.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in DAK | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 5.92% | 7.26% | 1.34% |
| NVDANvidia Corp | 2.43% | 8.01% | 5.58% |
| MSFTMicrosoft Corp | 3.28% | 5.66% | 2.38% |
| AMZNAmazon.Com Inc | 2.39% | 3.79% | 1.40% |
| GOOGAlphabet Inc | 3.32% | 2.39% | 0.93% |
| JPMJpmorgan Chase | 3.03% | 1.45% | 1.58% |
| GOOGLAlphabet Inc,class A | 1.18% | 2.99% | 1.81% |
| AMDAdvanced Micro Devices Inc | 2.62% | 1.14% | 1.48% |
| ADIAnalog Devices, Inc. | 2.50% | 0.26% | 2.24% |
| BKBank Of New York Mellon Corp | 2.53% | 0.17% | 2.36% |
78.5% of DAK 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, DAK or SPY?
DAK has an expense ratio of 0.43% while SPY charges 0.09%. SPY is the cheaper option, by $34 a year on a $10,000 investment.
Which performed better, DAK or SPY?
Over the past year DAK returned +15.26% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), DAK annualized +17.79% vs +18.60% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DAK or SPY?
SPY has been the more volatile fund at 12.4% annualized versus 11.8% for DAK. Worst drawdown: DAK -7.9% vs SPY -8.9%.
Should I hold both DAK and SPY?
DAK and SPY have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between DAK and SPY?
78.5% of DAK's money is in holdings SPY also owns. 61.0% of SPY's is in holdings DAK also owns. They hold 116 positions in common, counted across the 139 positions we hold weights for in DAK and 504 in SPY.
Which pays a higher dividend, DAK or SPY?
DAK yields 0.73% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than DAK?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. DAK is less concentrated, with 32.9% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.