HVAC vs SPY
AdvisorShares HVAC and Industrials ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HVAC or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. HVAC led over the full window, SPY over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 57.9%.
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 | HVAC | SPY |
|---|---|---|
| Expense Ratio | 1.00% | 0.09%Best |
| AUM | $14M | $804.7B |
| Dividend Yield | 0.17% | 0.98% |
| Holdings | 22 | 505 |
| YTD Return | +3.76% | +11.52%Best |
| 1Y Return | +9.31% | +17.48%Best |
| 3Y Return (annualized) | - | +20.62% |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 28.6% | 13.2%Best |
| Max Drawdown | -24.7% | -18.8%Best |
| $10,000 over 1.6 years | $13,319Best | $12,817 |
| Top 10 Weight | 57.9% | 38.0%Best |
| Fund Family | AdvisorShares Trust | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Feb 3, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 4, 2025 to Sep 10, 2026 (1.6 years).
HVAC 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 1.6 years both funds cover.
HVAC vs SPY Performance
AdvisorShares HVAC and Industrials ETF (HVAC) is an ETF from AdvisorShares Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year HVAC returned +9.31% while SPY returned +17.48%. Year to date, HVAC is up 3.76% versus a gain of 11.52% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HVAC has been the more volatile fund, with annualized monthly volatility of 28.6% compared with 13.2% 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 -24.7% for HVAC and -18.8% 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 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HVAC charges 1.00% per year while SPY charges 0.09%. On a $10,000 position that is $100 vs $9 annually, a gap of $91 per year that compounds over a long holding period. On income, HVAC currently yields 0.17% against 0.98% for SPY.
Holdings Overlap
61.0% of HVAC's money is in holdings SPY also owns. 1.7% of SPY's money is in holdings HVAC also owns.
The two portfolios partly overlap.
12 positions in common, counted across the 21 positions we hold weights for in HVAC and 504 in SPY, against full books of 22 and 505.
What only one of them owns
Our book lists 482 positions for SPY that do not appear in our book for HVAC (97.8% of the fund), and 7 for HVAC that do not appear in SPY (28.8%).
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 HVAC | Weight in SPY | Difference |
|---|---|---|---|
| FIXComfort Systems USA Inc. | 7.41% | 0.09% | 7.32% |
| JBLJabil, Inc. | 6.17% | 0.05% | 6.12% |
| APHAmphenol Corp. Class A | 5.83% | 0.32% | 5.51% |
| MMM3m Co. | 5.68% | 0.14% | 5.54% |
| VRTVertiv Group Corp | 5.60% | 0.16% | 5.44% |
| AMEAmetek Inc. | 5.51% | 0.09% | 5.42% |
| PWRQuanta Services, Inc. | 5.23% | 0.16% | 5.07% |
| GEVGE Vernova, LLC | 4.69% | 0.41% | 4.28% |
| CARRCarrier Global Corporation | 4.11% | 0.08% | 4.03% |
| TTTrane Technologies Plc Common Stock | 3.76% | 0.16% | 3.60% |
61.0% of HVAC 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, HVAC or SPY?
HVAC has an expense ratio of 1.00% while SPY charges 0.09%. SPY is the cheaper option, by $91 a year on a $10,000 investment.
Which performed better, HVAC or SPY?
Over the past year HVAC returned +9.31% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), HVAC annualized +19.62% vs +16.78% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HVAC or SPY?
HVAC has been the more volatile fund at 28.6% annualized versus 13.2% for SPY. Worst drawdown: HVAC -24.7% vs SPY -18.8%.
Should I hold both HVAC and SPY?
HVAC and SPY have a monthly-return correlation of 0.58, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between HVAC and SPY?
61.0% of HVAC's money is in holdings SPY also owns. 1.7% of SPY's is in holdings HVAC also owns. They hold 12 positions in common, counted across the 21 positions we hold weights for in HVAC and 504 in SPY.
Which pays a higher dividend, HVAC or SPY?
HVAC yields 0.17% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than HVAC?
SPY has a lower expense ratio. HVAC led over the full window, SPY over 1Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 57.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.