HXA vs SPY
Mast HedgeIndex Corporate Arbitrage ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HXA or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio.
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 | HXA | SPY |
|---|---|---|
| Expense Ratio | 0.99% | 0.09%Best |
| AUM | $51M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 30 | 1,515 |
| YTD Return | +0.30% | +13.50%Best |
| 1Y Return | - | +13.13% |
| 3Y Return (annualized) | - | +24.30% |
| 5Y Return (annualized) | - | +12.37% |
| Fund Family | Mast Funds | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Aug 21, 2026 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
HXA 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.
HXA vs SPY Performance
Mast HedgeIndex Corporate Arbitrage ETF (HXA) is an ETF from Mast Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, HXA is up 0.30% versus a gain of 13.50% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
HXA charges 0.99% per year while SPY charges 0.09%. On a $10,000 position that is $99 vs $9 annually, a gap of $90 per year that compounds over a long holding period. On income, HXA currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
At least 0.9% of SPY's money is in holdings HXA also owns.
Stated as a floor: for HXA, our book for it covers 31.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
11 positions in common, counted across the 30 positions we hold weights for in HXA and 504 in SPY, against full books of 30 and 1,515.
Top Shared Holdings
| Stock | Weight in HXA | Weight in SPY | Difference |
|---|---|---|---|
| CRMSalesforce Inc Crm Us Equity | 0.82% | 0.32% | 0.50% |
| HCAHca Healthcare Inc. | 0.76% | 0.10% | 0.66% |
| HLTHilton Worldwide Holdings Inc. | 0.70% | 0.11% | 0.59% |
| APPAppLovin Corp. Com Cl A | 0.64% | 0.14% | 0.50% |
| EGEverest Group Ltd Common Stock | 0.72% | 0.02% | 0.70% |
| CSGPCostar Group Inc. | 0.67% | 0.02% | 0.65% |
| COOCooper Cos Inc/The | 0.51% | 0.02% | 0.49% |
| FICOFair Issac Corp . | 0.46% | 0.04% | 0.42% |
| FOXAFox Corp. Class A | -2.31% | 0.02% | 2.33% |
| ONOn Semiconductor Corp | -2.67% | 0.04% | 2.71% |
You are not choosing between two funds in isolation.
Whichever of HXA 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, HXA or SPY?
HXA has an expense ratio of 0.99% while SPY charges 0.09%. SPY is the cheaper option, by $90 a year on a $10,000 investment.
Which pays a higher dividend, HXA or SPY?
HXA yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than HXA?
SPY has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.