FOWF vs SPY
Pacer Solactive Whitney Future of Warfare 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 505 holdings.
Side-by-Side Comparison
| Metric | FOWF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.49% | 0.09% | |
| AUM | $16M | $814.4B | |
| Dividend Yield | 0.73% | 1.01% | |
| Holdings | 98 | 505 | |
| YTD Return | +9.83% | +12.60% | |
| 1Y Return | +15.66% | +20.83% | |
| 3Y Return (annualized) | - | +20.98% | |
| 5Y Return (annualized) | - | +12.56% | |
| Volatility (annualized) | 12.6% | 15.3% | |
| Max Drawdown | -12.3% | -56.5% | |
| Fund Family | Pacer ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 17, 2024 | Jan 22, 1993 |
FOWF vs SPY Performance
Pacer Solactive Whitney Future of Warfare ETF (FOWF) is a ETF from Pacer ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FOWF returned +15.66% while SPY returned +20.83%. Year to date, FOWF is up 9.83% versus a gain of 12.60% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for FOWF. 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 -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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
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 1.01% for SPY.
Holdings Overlap
FOWF and SPY share 56 holdings out of 541 unique holdings combined, representing a 11.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $40 per year of difference.
Which performed better, FOWF or SPY?
Over the past year FOWF returned +15.66% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), FOWF annualized +23.92% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, FOWF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.6% for FOWF. Worst drawdown: FOWF -12.3% vs SPY -56.5%.
Should I hold both FOWF and SPY?
FOWF and SPY have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FOWF and SPY?
FOWF and SPY share 56 common holdings with a 11.6% weight overlap. Combined, they hold 541 unique securities.
Which pays a higher dividend, FOWF or SPY?
FOWF yields 0.73% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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