HKND vs SPY
Humankind US Stock ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HKND or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. HKND is less concentrated, with 25.6% of the fund in its ten largest positions against 37.8%.
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 | HKND | SPY |
|---|---|---|
| Expense Ratio | 0.11% | 0.09%Best |
| AUM | $142M | $804.7B |
| Dividend Yield | 2.12% | 0.98% |
| Holdings | 1,001 | 505 |
| Volatility (annualized) | 13.7%Best | 15.4% |
| Max Drawdown | -19.0%Best | -24.5% |
| $10,000 over 4.8 years | $15,070 | $18,630Best |
| Top 10 Weight | 25.6%Best | 37.8% |
| Fund Family | Humankind | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Feb 24, 2021 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 291 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. HKND has data through Dec 1, 2025 and SPY through Sep 18, 2026.
Volatility and max drawdown, and the $10,000 over 4.8 years row, are measured over the window both funds cover: Feb 24, 2021 to Dec 1, 2025 (4.8 years).
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 13.7% for HKND. 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 -19.0% for HKND and -24.5% 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
HKND charges 0.11% per year while SPY charges 0.09%. On a $10,000 position that is $11 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, HKND currently yields 2.12% against 0.98% for SPY.
Holdings Overlap
82.3% of HKND's money is in holdings SPY also owns. 77.7% of SPY's money is in holdings HKND also owns.
Most of HKND is already inside SPY. Owning both mostly buys the same companies twice.
The two holdings books were reported 336 days apart, HKND as of Sep 30, 2025 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
340 positions in common, counted across the 959 positions we hold weights for in HKND and 504 in SPY, against full books of 1,001 and 505.
What only one of them owns
Our book lists 158 positions for SPY that do not appear in our book for HKND (21.6% of the fund), and 512 for HKND that do not appear in SPY (16.8%).
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 HKND | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.63% | 7.26% | 4.63% |
| NVDANvidia Corp | 0.10% | 8.01% | 7.91% |
| MSFTMicrosoft Corp | 2.11% | 5.66% | 3.55% |
| GOOGLAlphabet Inc,class A | 4.54% | 2.99% | 1.55% |
| AMZNAmazon.Com Inc | 0.74% | 3.79% | 3.05% |
| LLYEli Lilly & Co. | 2.51% | 1.40% | 1.11% |
| ADMArcher-Daniels-Midland Co. | 3.21% | 0.06% | 3.15% |
| JNJJohnson & Johnson - Common | 2.23% | 0.99% | 1.24% |
| ABBVAbbvie Inc. | 2.37% | 0.70% | 1.67% |
| INTCIntel Corporation | 2.30% | 0.67% | 1.63% |
82.3% of HKND 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, HKND or SPY?
HKND has an expense ratio of 0.11% while SPY charges 0.09%. SPY is the cheaper option, by $2 a year on a $10,000 investment.
Which is riskier, HKND or SPY?
SPY has been the more volatile fund at 15.4% annualized versus 13.7% for HKND. Worst drawdown: HKND -19.0% vs SPY -24.5%.
Should I hold both HKND and SPY?
HKND and SPY have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between HKND and SPY?
82.3% of HKND's money is in holdings SPY also owns. 77.7% of SPY's is in holdings HKND also owns. They hold 340 positions in common, counted across the 959 positions we hold weights for in HKND and 504 in SPY.
Which pays a higher dividend, HKND or SPY?
HKND yields 2.12% while SPY yields 0.98%, so HKND currently pays the higher dividend yield.
Is SPY better than HKND?
SPY has a lower expense ratio. SPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.91. HKND is less concentrated, with 25.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.