HFGM vs SPY
Unlimited HFGM Global Macro ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. HFGM delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | HFGM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.01% | 0.09% | |
| AUM | $162M | $821.1B | |
| Dividend Yield | 10.69% | 1.01% | |
| Holdings | 34 | 505 | |
| YTD Return | +9.04% | +12.68% | |
| 1Y Return | +22.81% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 17.1% | 15.3% | |
| Max Drawdown | -15.1% | -56.5% | |
| Fund Family | Unlimited Funds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 14, 2025 | Jan 22, 1993 |
HFGM vs SPY Performance
Unlimited HFGM Global Macro ETF (HFGM) is a ETF from Unlimited Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year HFGM returned +22.81% while SPY returned +21.82%. Year to date, HFGM is up 9.04% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
HFGM has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 15.3% 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 -15.1% for HFGM 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
HFGM charges 1.01% per year while SPY charges 0.09%. On a $10,000 position that is $101 vs $9 annually, a gap of $92 per year that compounds over a long holding period. On income, HFGM currently yields 10.69% against 1.01% for SPY.
Holdings Overlap
HFGM and SPY share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, HFGM or SPY?
HFGM has an expense ratio of 1.01% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, HFGM or SPY?
Over the past year HFGM returned +22.81% vs +21.82% for SPY, so HFGM leads on 1-year performance. Over the longest common window we track (1 years), HFGM annualized +28.00% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, HFGM or SPY?
HFGM has been the more volatile fund at 17.1% annualized versus 15.3% for SPY. Worst drawdown: HFGM -15.1% vs SPY -56.5%.
Should I hold both HFGM and SPY?
HFGM and SPY have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between HFGM and SPY?
HFGM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, HFGM or SPY?
HFGM yields 10.69% while SPY yields 1.01%, so HFGM currently pays the higher dividend yield.
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