HAWG vs SPY
HCM Hedged Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HAWG or SPY?
SPY costs less.
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.8%.
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 | HAWG | SPY |
|---|---|---|
| Expense Ratio | 1.35% | 0.09%Best |
| AUM | $96M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 488 | 505 |
| YTD Return | -0.89% | +11.97%Best |
| 1Y Return | - | +16.40% |
| 3Y Return (annualized) | - | +21.10% |
| 5Y Return (annualized) | - | +12.88% |
| Top 10 Weight | 52.8% | 37.8%Best |
| Fund Family | Howard Capital Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 13, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
HAWG 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
HAWG vs SPY Performance
HCM Hedged Equity ETF (HAWG) is an ETF from Howard Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, HAWG is down 0.89% versus a gain of 11.97% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
HAWG charges 1.35% per year while SPY charges 0.09%. On a $10,000 position that is $135 vs $9 annually, a gap of $126 per year that compounds over a long holding period. On income, HAWG currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
95.5% of HAWG's money is in holdings SPY also owns. 96.8% of SPY's money is in holdings HAWG also owns.
Most of SPY is already inside HAWG. Owning both mostly buys the same companies twice.
406 positions in common, counted across the 488 positions we hold weights for in HAWG and 504 in SPY, against full books of 488 and 505.
What only one of them owns
Our book lists 94 positions for SPY that do not appear in our book for HAWG (2.7% of the fund), and 68 for HAWG that do not appear in SPY (2.2%).
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 HAWG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 11.32% | 8.01% | 3.31% |
| AAPLApple, Inc | 9.65% | 7.26% | 2.39% |
| MSFTMicrosoft Corp | 7.72% | 5.66% | 2.06% |
| AMZNAmazon.Com Inc | 5.25% | 3.79% | 1.46% |
| GOOGLAlphabet Inc,class A | 4.17% | 2.99% | 1.18% |
| AVGOBroadcom Inc | 3.51% | 2.66% | 0.85% |
| GOOGAlphabet Inc | 3.60% | 2.39% | 1.21% |
| METAMeta Platforms Inc | 2.86% | 1.93% | 0.93% |
| MUMicron Technology, Inc. | 2.43% | 1.60% | 0.83% |
| TSLATesla Inc | 2.28% | 1.52% | 0.76% |
96.8% of SPY is already inside HAWG.
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, HAWG or SPY?
HAWG has an expense ratio of 1.35% while SPY charges 0.09%. SPY is the cheaper option, by $126 a year on a $10,000 investment.
What is the holdings overlap between HAWG and SPY?
96.8% of SPY's money is in holdings HAWG also owns. 96.8% of SPY's is in holdings HAWG also owns. They hold 406 positions in common, counted across the 488 positions we hold weights for in HAWG and 504 in SPY.
Which pays a higher dividend, HAWG or SPY?
HAWG yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than HAWG?
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 52.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.