HAP vs SPY
VanEck Natural Resources ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HAP or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. HAP led over 1Y and 5Y, SPY over 3Y and the full window. HAP is less concentrated, with 36.8% 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 | HAP | SPY |
|---|---|---|
| Expense Ratio | 0.41% | 0.09%Best |
| AUM | $299M | $814.4B |
| Dividend Yield | 1.94% | 1.01% |
| Holdings | 131 | 505 |
| YTD Return | +27.29%Best | +13.34% |
| 1Y Return | +44.57%Best | +19.97% |
| 3Y Return (annualized) | +17.96% | +21.20%Best |
| 5Y Return (annualized) | +13.42%Best | +12.81% |
| Volatility (annualized) | 20.2% | 15.5%Best |
| Max Drawdown | -50.7% | -46.8%Best |
| $10,000 over 5 years | $18,769Best | $18,270 |
| Top 10 Weight | 36.8%Best | 38.0% |
| Fund Family | VanEck | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 29, 2008 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 3, 2008 to Sep 4, 2026 (18 years).
HAP 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 18 years both funds cover.
HAP vs SPY Performance
VanEck Natural Resources ETF (HAP) is an ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year HAP returned +44.57% while SPY returned +19.97%. Year to date, HAP is up 27.29% versus a gain of 13.34% for SPY.
Over three years, HAP compounded at +17.96% per year against +21.20% for SPY; over five years the annualized figures are +13.42% and +12.81% respectively. Across the full 18-year window we track, SPY has the edge at +10.94% annualized vs +6.36%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HAP has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 15.5% 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 -50.7% for HAP and -46.8% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HAP charges 0.41% per year while SPY charges 0.09%. On a $10,000 position that is $41 vs $9 annually, a gap of $32 per year that compounds over a long holding period. On income, HAP currently yields 1.94% against 1.01% for SPY.
Holdings Overlap
38.0% of HAP's money is in holdings SPY also owns. 4.2% of SPY's money is in holdings HAP also owns.
The two portfolios partly overlap.
30 positions in common, counted across the 133 positions we hold weights for in HAP and 503 in SPY, against full books of 131 and 505.
What only one of them owns
Our book lists 463 positions for SPY that do not appear in our book for HAP (95.3% of the fund), and 19 for HAP that do not appear in SPY (15.8%).
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 HAP | Weight in SPY | Difference |
|---|---|---|---|
| XOMExxon Mobil Corp | 4.83% | 0.96% | 3.87% |
| DEDeere & Co. | 5.24% | 0.23% | 5.01% |
| CVXChevron Corp.United States -Energy | 4.71% | 0.54% | 4.17% |
| NEENextera Energy Inc | 3.73% | 0.27% | 3.46% |
| CTVACorteva Inc. | 2.94% | 0.08% | 2.86% |
| NEMNewmont Corp. | 1.65% | 0.16% | 1.49% |
| ADMArcher-Daniels-Midland Co. | 1.62% | 0.06% | 1.56% |
| COPConocophillips Co | 1.04% | 0.22% | 0.82% |
| CFCf Industries Ho | 1.14% | 0.03% | 1.11% |
| TSNTyson Foods Inc. Class A | 1.04% | 0.02% | 1.02% |
38.0% of HAP 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, HAP or SPY?
HAP has an expense ratio of 0.41% while SPY charges 0.09%. SPY is the cheaper option, by $32 a year on a $10,000 investment.
Which performed better, HAP or SPY?
Over the past year HAP returned +44.57% vs +19.97% for SPY, so HAP leads on 1-year performance. Over the longest common window we track (18 years), HAP annualized +6.36% vs +10.94% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HAP or SPY?
HAP has been the more volatile fund at 20.2% annualized versus 15.5% for SPY. Worst drawdown: HAP -50.7% vs SPY -46.8%.
Should I hold both HAP and SPY?
HAP and SPY have a monthly-return correlation of 0.77, 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 HAP and SPY?
38.0% of HAP's money is in holdings SPY also owns. 4.2% of SPY's is in holdings HAP also owns. They hold 30 positions in common, counted across the 133 positions we hold weights for in HAP and 503 in SPY.
Which pays a higher dividend, HAP or SPY?
HAP yields 1.94% while SPY yields 1.01%, so HAP currently pays the higher dividend yield.
Is SPY better than HAP?
SPY has a lower expense ratio. HAP led over 1Y and 5Y, SPY over 3Y and the full window. HAP is less concentrated, with 36.8% 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.