EVNT vs SPY
AltShares Event Driven 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 | EVNT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.33% | 0.09% | |
| AUM | $13M | $789.1B | |
| Dividend Yield | 4.53% | 1.01% | |
| Holdings | 82 | 505 | |
| YTD Return | +7.28% | +13.79% | |
| 1Y Return | +12.53% | +23.66% | |
| 3Y Return (annualized) | +9.94% | +21.40% | |
| 5Y Return (annualized) | +5.26% | +13.37% | |
| Volatility (annualized) | 7.2% | 15.3% | |
| Max Drawdown | -13.8% | -56.5% | |
| Fund Family | AltShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 20, 2021 | Jan 22, 1993 |
EVNT vs SPY Performance
AltShares Event Driven ETF (EVNT) is a ETF from AltShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EVNT returned +12.53% while SPY returned +23.66%. Year to date, EVNT is up 7.28% versus a gain of 13.79% for SPY.
Over three years, EVNT compounded at +9.94% per year against +21.40% for SPY; over five years the annualized figures are +5.26% and +13.37% respectively. Across the full 5-year window we track, SPY has the edge at +8.85% annualized vs +5.26%. 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 7.2% for EVNT. 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 -13.8% for EVNT 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EVNT charges 1.33% per year while SPY charges 0.09%. On a $10,000 position that is $133 vs $9 annually, a gap of $124 per year that compounds over a long holding period. On income, EVNT currently yields 4.53% against 1.01% for SPY.
Holdings Overlap
EVNT and SPY share 18 holdings out of 563 unique holdings combined, representing a 1.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EVNT or SPY?
EVNT has an expense ratio of 1.33% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $124 per year of difference.
Which performed better, EVNT or SPY?
Over the past year EVNT returned +12.53% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), EVNT annualized +5.26% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, EVNT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.2% for EVNT. Worst drawdown: EVNT -13.8% vs SPY -56.5%.
Should I hold both EVNT and SPY?
EVNT and SPY have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EVNT and SPY?
EVNT and SPY share 18 common holdings with a 1.8% weight overlap. Combined, they hold 563 unique securities.
Which pays a higher dividend, EVNT or SPY?
EVNT yields 4.53% while SPY yields 1.01%, so EVNT currently pays the higher dividend yield.
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