DARP vs SPY
Grizzle Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. DARP delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | DARP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $32M | $789.1B | |
| Dividend Yield | 0.33% | 1.01% | |
| Holdings | 81 | 505 | |
| YTD Return | +25.46% | +13.75% | |
| 1Y Return | +51.97% | +22.91% | |
| 3Y Return (annualized) | +33.48% | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 22.1% | 15.3% | |
| Max Drawdown | -30.3% | -56.5% | |
| Fund Family | Grizzle Investment Management LLC | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 17, 2021 | Jan 22, 1993 |
DARP vs SPY Performance
Grizzle Growth ETF (DARP) is a ETF from Grizzle Investment Management LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DARP returned +51.97% while SPY returned +22.91%. Year to date, DARP is up 25.46% versus a gain of 13.75% for SPY.
Over three years, DARP compounded at +33.48% per year against +21.67% for SPY. Across the full 3-year window we track, DARP has the edge at +33.48% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DARP has been the more volatile fund, with annualized monthly volatility of 22.1% 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 -30.3% for DARP 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DARP charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, DARP currently yields 0.33% against 1.01% for SPY.
Holdings Overlap
DARP and SPY share 20 holdings out of 521 unique holdings combined, representing a 27.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DARP or SPY?
DARP has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, DARP or SPY?
Over the past year DARP returned +51.97% vs +22.91% for SPY, so DARP leads on 1-year performance. Over the longest common window we track (3 years), DARP annualized +33.48% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DARP or SPY?
DARP has been the more volatile fund at 22.1% annualized versus 15.3% for SPY. Worst drawdown: DARP -30.3% vs SPY -56.5%.
Should I hold both DARP and SPY?
DARP and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DARP and SPY?
DARP and SPY share 20 common holdings with a 27.7% weight overlap. Combined, they hold 521 unique securities.
Which pays a higher dividend, DARP or SPY?
DARP yields 0.33% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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