HEFT vs SPY
Hedgeye Fourth Turning ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HEFT 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 43.5%.
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 | HEFT | SPY |
|---|---|---|
| Expense Ratio | 0.70% | 0.09%Best |
| AUM | $81M | $804.7B |
| Dividend Yield | 0.02% | 0.98% |
| Holdings | 51 | 505 |
| YTD Return | +3.76% | +13.82%Best |
| 1Y Return | - | +16.96% |
| 3Y Return (annualized) | - | +22.97% |
| 5Y Return (annualized) | - | +13.73% |
| Top 10 Weight | 43.5% | 37.8%Best |
| Fund Family | Hedgeye Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 20, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window.
HEFT 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.
HEFT vs SPY Performance
Hedgeye Fourth Turning ETF (HEFT) is an ETF from Hedgeye Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, HEFT is up 3.76% versus a gain of 13.82% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
HEFT charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, HEFT currently yields 0.02% against 0.98% for SPY.
Holdings Overlap
78.1% of HEFT's money is in holdings SPY also owns. 43.0% of SPY's money is in holdings HEFT also owns.
Most of HEFT is already inside SPY. Owning both mostly buys the same companies twice.
36 positions in common, counted across the 48 positions we hold weights for in HEFT and 504 in SPY, against full books of 51 and 505.
What only one of them owns
Our book lists 461 positions for SPY that do not appear in our book for HEFT (56.4% of the fund), and 11 for HEFT that do not appear in SPY (17.6%).
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 HEFT | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 9.50% | 7.26% | 2.24% |
| NVDANvidia Corp | 6.67% | 8.01% | 1.34% |
| MSFTMicrosoft Corp | 3.09% | 5.66% | 2.57% |
| AMZNAmazon.Com Inc | 4.18% | 3.79% | 0.39% |
| GOOGLAlphabet Inc,class A | 2.99% | 2.99% | 0.00% |
| LLYEli Lilly & Co. | 3.15% | 1.40% | 1.75% |
| JPMJpmorgan Chase | 2.96% | 1.45% | 1.51% |
| AMDAdvanced Micro Devices Inc | 2.55% | 1.14% | 1.41% |
| VVisa Inc Class A | 2.49% | 0.94% | 1.55% |
| MUMicron Technology, Inc. | 1.37% | 1.60% | 0.23% |
78.1% of HEFT 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, HEFT or SPY?
HEFT has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option, by $61 a year on a $10,000 investment.
What is the holdings overlap between HEFT and SPY?
78.1% of HEFT's money is in holdings SPY also owns. 43.0% of SPY's is in holdings HEFT also owns. They hold 36 positions in common, counted across the 48 positions we hold weights for in HEFT and 504 in SPY.
Which pays a higher dividend, HEFT or SPY?
HEFT yields 0.02% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than HEFT?
SPY has a lower expense ratio. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 43.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.