HOLD vs SPY
Harbor Alpha Layering ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HOLD or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
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 | HOLD | SPY |
|---|---|---|
| Expense Ratio | 0.70% | 0.09%Best |
| AUM | $8M | $804.7B |
| Dividend Yield | 6.93% | 0.98% |
| Holdings | 20 | 505 |
| YTD Return | +5.69% | +10.96%Best |
| 1Y Return | +12.13% | +15.52%Best |
| 3Y Return (annualized) | - | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 15.1% | 13.1%Best |
| Max Drawdown | -9.5% | -8.9%Best |
| $10,000 over 1.1 years | $11,549 | $11,840Best |
| Fund Family | Harbor Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 13, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 14, 2025 to Sep 16, 2026 (1.1 years).
HOLD 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 1.1 years both funds cover.
HOLD vs SPY Performance
Harbor Alpha Layering ETF (HOLD) is an ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year HOLD returned +12.13% while SPY returned +15.52%. Year to date, HOLD is up 5.69% versus a gain of 10.96% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HOLD has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 13.1% 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 -9.5% for HOLD and -8.9% 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HOLD 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, HOLD currently yields 6.93% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1 holding in HOLD and 504 in SPY, totalling 95.4% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 1 positions we hold weights for in HOLD and 504 in SPY, against full books of 20 and 505.
You are not choosing between two funds in isolation.
Whichever of HOLD and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HOLD or SPY?
HOLD 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.
Which performed better, HOLD or SPY?
Over the past year HOLD returned +12.13% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), HOLD annualized +13.99% vs +16.60% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HOLD or SPY?
HOLD has been the more volatile fund at 15.1% annualized versus 13.1% for SPY. Worst drawdown: HOLD -9.5% vs SPY -8.9%.
Should I hold both HOLD and SPY?
HOLD and SPY have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HOLD or SPY?
HOLD yields 6.93% while SPY yields 0.98%, so HOLD currently pays the higher dividend yield.
Is SPY better than HOLD?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.