DWAT vs SPY
Arrow DWA Tactical 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 | DWAT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.83% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 10.89% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | -4.04% | +13.68% | |
| 1Y Return | +0.06% | +21.53% | |
| 3Y Return (annualized) | +0.81% | +21.44% | |
| 5Y Return (annualized) | +8.05% | +13.18% | |
| Volatility (annualized) | 12.8% | 15.3% | |
| Max Drawdown | -34.7% | -56.5% | |
| Fund Family | Arrow Investment Trust | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 1, 2014 | Jan 22, 1993 |
DWAT vs SPY Performance
Arrow DWA Tactical ETF (DWAT) is a ETF from Arrow Investment Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DWAT returned +0.06% while SPY returned +21.53%. Year to date, DWAT is down 4.04% versus a gain of 13.68% for SPY.
Over three years, DWAT compounded at +0.81% per year against +21.44% for SPY; over five years the annualized figures are +8.05% and +13.18% respectively. Across the full 11-year window we track, SPY has the edge at +8.85% annualized vs +4.84%. 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 12.8% for DWAT. 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 -34.7% for DWAT 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DWAT charges 1.83% per year while SPY charges 0.09%. On a $10,000 position that is $183 vs $9 annually, a gap of $174 per year that compounds over a long holding period. On income, DWAT currently yields 10.89% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, DWAT or SPY?
DWAT has an expense ratio of 1.83% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $174 per year of difference.
Which performed better, DWAT or SPY?
Over the past year DWAT returned +0.06% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), DWAT annualized +4.84% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, DWAT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.8% for DWAT. Worst drawdown: DWAT -34.7% vs SPY -56.5%.
Should I hold both DWAT and SPY?
DWAT and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, DWAT or SPY?
DWAT yields 10.89% while SPY yields 1.01%, so DWAT currently pays the higher dividend yield.
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