DAPR vs SPY
FT Vest US Equity Deep Buffer ETF - April 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 | DAPR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $307M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 5 | 505 | |
| YTD Return | +5.83% | +14.47% | |
| 1Y Return | +8.93% | +21.96% | |
| 3Y Return (annualized) | +10.50% | +21.70% | |
| 5Y Return (annualized) | +6.17% | +13.30% | |
| Volatility (annualized) | 6.4% | 15.3% | |
| Max Drawdown | -10.5% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 16, 2021 | Jan 22, 1993 |
DAPR vs SPY Performance
FT Vest US Equity Deep Buffer ETF - April (DAPR) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DAPR returned +8.93% while SPY returned +21.96%. Year to date, DAPR is up 5.83% versus a gain of 14.47% for SPY.
Over three years, DAPR compounded at +10.50% per year against +21.70% for SPY; over five years the annualized figures are +6.17% and +13.30% respectively. Across the full 5-year window we track, SPY has the edge at +8.87% annualized vs +6.36%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.4% for DAPR. 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 -10.5% for DAPR 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DAPR charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, DAPR currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
DAPR and SPY share 0 holdings out of 504 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DAPR or SPY?
DAPR has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, DAPR or SPY?
Over the past year DAPR returned +8.93% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), DAPR annualized +6.36% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, DAPR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.4% for DAPR. Worst drawdown: DAPR -10.5% vs SPY -56.5%.
Should I hold both DAPR and SPY?
DAPR and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DAPR and SPY?
DAPR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, DAPR or SPY?
DAPR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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