FWD vs SPY
AB Disruptors ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FWD or SPY?
FWD has been ahead.
SPY has a lower expense ratio. FWD led over 1Y, 3Y and the full window. FWD is less concentrated, with 24.8% of the fund in its ten largest positions against 38.0%.
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 | FWD | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $3.2B | $814.4B |
| Dividend Yield | 0.09% | 1.01% |
| Holdings | 125 | 505 |
| YTD Return | +19.28%Best | +13.78% |
| 1Y Return | +38.68%Best | +21.44% |
| 3Y Return (annualized) | +31.25%Best | +21.38% |
| 5Y Return (annualized) | - | +12.80% |
| Volatility (annualized) | 24.0% | 12.4%Best |
| Max Drawdown | -29.0% | -18.8%Best |
| $10,000 over 3.5 years | $26,502Best | $20,750 |
| Top 10 Weight | 24.8%Best | 38.0% |
| Fund Family | AllianceBernstein L.P. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 22, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Mar 22, 2023 to Sep 3, 2026 (3.5 years).
FWD 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 3.5 years both funds cover.
FWD vs SPY Performance
AB Disruptors ETF (FWD) is an ETF from AllianceBernstein L.P. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FWD returned +38.68% while SPY returned +21.44%. Year to date, FWD is up 19.28% versus a gain of 13.78% for SPY.
Over three years, FWD compounded at +31.25% per year against +21.38% for SPY. Across the full 4-year window we track, FWD has the edge at +32.11% annualized vs +23.19%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FWD has been the more volatile fund, with annualized monthly volatility of 24.0% compared with 12.4% 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 -29.0% for FWD 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FWD charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, FWD currently yields 0.09% against 1.01% for SPY.
Holdings Overlap
58.5% of FWD's money is in holdings SPY also owns. 39.5% of SPY's money is in holdings FWD also owns.
The two portfolios partly overlap.
55 positions in common, counted across the 106 positions we hold weights for in FWD and 504 in SPY, against full books of 125 and 505.
What only one of them owns
Our book lists 441 positions for SPY that do not appear in our book for FWD (60.0% of the fund), and 23 for FWD that do not appear in SPY (14.9%).
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 FWD | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 4.11% | 7.71% | 3.60% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.74% | 5.50% | 2.76% |
| AMZNAmazon.Com Inc | 2.75% | 4.08% | 1.33% |
| GOOGLAlphabet Inc.Class A | 2.49% | 3.33% | 0.84% |
| AVGOBroadcom Inc | 2.71% | 2.97% | 0.26% |
| AMDAdvanced Micro Devices Inc | 1.92% | 1.27% | 0.65% |
| AMATApplied Materials, Inc. | 2.14% | 0.65% | 1.49% |
| LRCXLrcx Uw Equity | 1.92% | 0.60% | 1.32% |
| LLYEli Lilly & Co. | 0.90% | 1.33% | 0.43% |
| CATCaterpillar, Inc. | 1.54% | 0.61% | 0.93% |
58.5% of FWD 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, FWD or SPY?
FWD has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, FWD or SPY?
Over the past year FWD returned +38.68% vs +21.44% for SPY, so FWD leads on 1-year performance. Over the longest common window we track (4 years), FWD annualized +32.11% vs +23.19% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FWD or SPY?
FWD has been the more volatile fund at 24.0% annualized versus 12.4% for SPY. Worst drawdown: FWD -29.0% vs SPY -18.8%.
Should I hold both FWD and SPY?
FWD and SPY have a monthly-return correlation of 0.82, 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 FWD and SPY?
58.5% of FWD's money is in holdings SPY also owns. 39.5% of SPY's is in holdings FWD also owns. They hold 55 positions in common, counted across the 106 positions we hold weights for in FWD and 504 in SPY.
Which pays a higher dividend, FWD or SPY?
FWD yields 0.09% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FWD?
SPY has a lower expense ratio. FWD led over 1Y, 3Y and the full window. FWD is less concentrated, with 24.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.