FOWF vs SPY
Pacer Solactive Whitney Future of Warfare ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FOWF or SPY?
Each has led over a different period.
SPY has a lower expense ratio. FOWF led over the full window, SPY over 1Y. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 47.8%.
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 | FOWF | SPY |
|---|---|---|
| Expense Ratio | 0.49% | 0.09%Best |
| AUM | $16M | $804.7B |
| Dividend Yield | 0.73% | 0.98% |
| Holdings | 98 | 505 |
| YTD Return | +8.40% | +13.51%Best |
| 1Y Return | +12.09% | +18.19%Best |
| 3Y Return (annualized) | - | +23.29% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 12.9% | 12.6%Best |
| Max Drawdown | -12.3%Best | -18.8% |
| $10,000 over 1.8 years | $14,316Best | $13,497 |
| Top 10 Weight | 47.8% | 37.8%Best |
| Fund Family | Pacer ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 17, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.8 years row, are measured over the window both funds cover: Dec 18, 2024 to Sep 25, 2026 (1.8 years).
FOWF 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 1.8 years both funds cover.
FOWF vs SPY Performance
Pacer Solactive Whitney Future of Warfare ETF (FOWF) is an ETF from Pacer ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FOWF returned +12.09% while SPY returned +18.19%. Year to date, FOWF is up 8.40% versus a gain of 13.51% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FOWF has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 12.6% 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 -12.3% for FOWF and -18.8% 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 0.52. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FOWF charges 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, FOWF currently yields 0.73% against 0.98% for SPY.
Holdings Overlap
75.7% of FOWF's money is in holdings SPY also owns. 29.7% of SPY's money is in holdings FOWF also owns.
Most of FOWF is already inside SPY. Owning both mostly buys the same companies twice.
54 positions in common, counted across the 88 positions we hold weights for in FOWF and 504 in SPY, against full books of 98 and 505.
What only one of them owns
Our book lists 443 positions for SPY that do not appear in our book for FOWF (69.6% of the fund), and 7 for FOWF that do not appear in SPY (4.6%).
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 FOWF | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 0.75% | 8.01% | 7.26% |
| RTXRaytheon Co. | 7.11% | 0.42% | 6.69% |
| LMTLockheed Martin Corp | 7.14% | 0.17% | 6.97% |
| GDGeneral Dynamics Corp. | 7.12% | 0.14% | 6.98% |
| BABoeing Co | 6.91% | 0.25% | 6.66% |
| NOCNorthrop Grumman Corp. | 7.04% | 0.11% | 6.93% |
| MSFTMicrosoft Corp | 0.74% | 5.66% | 4.92% |
| AMZNAmazon.Com Inc | 0.73% | 3.79% | 3.06% |
| LDOSLeidos Holdings, Inc. | 3.88% | 0.03% | 3.85% |
| LHXL3Harris Technologies Inc. | 3.44% | 0.07% | 3.37% |
75.7% of FOWF 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, FOWF or SPY?
FOWF has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, FOWF or SPY?
Over the past year FOWF returned +12.09% vs +18.19% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), FOWF annualized +22.06% vs +18.13% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FOWF or SPY?
FOWF has been the more volatile fund at 12.9% annualized versus 12.6% for SPY. Worst drawdown: FOWF -12.3% vs SPY -18.8%.
Should I hold both FOWF and SPY?
FOWF and SPY have a monthly-return correlation of 0.52, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FOWF and SPY?
75.7% of FOWF's money is in holdings SPY also owns. 29.7% of SPY's is in holdings FOWF also owns. They hold 54 positions in common, counted across the 88 positions we hold weights for in FOWF and 504 in SPY.
Which pays a higher dividend, FOWF or SPY?
FOWF yields 0.73% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FOWF?
SPY has a lower expense ratio. FOWF led over the full window, SPY over 1Y. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 47.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.