HXE vs SPY
Mast HedgeIndex Adaptive Equities ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, HXE or SPY?
All Cap Blend 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 | HXE | SPY |
|---|---|---|
| Expense Ratio | 0.99% | 0.09%Best |
| AUM | $33M | $823.2B |
| Dividend Yield | 0.00% | 0.99% |
| Holdings | 90 | 1,515 |
| YTD Return | +2.31% | +13.54%Best |
| 1Y Return | - | +13.53% |
| 3Y Return (annualized) | - | +24.36% |
| 5Y Return (annualized) | - | +12.64% |
| Fund Family | Mast Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | 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.
HXE 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.
HXE vs SPY Performance
Mast HedgeIndex Adaptive Equities ETF (HXE) 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, HXE is up 2.31% versus a gain of 13.54% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
HXE 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, HXE currently yields 0.00% against 0.99% for SPY.
Holdings Overlap
At least 45.0% of SPY's money is in holdings HXE also owns.
Stated as a floor: for HXE, our book for it covers 58.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
65 positions in common, counted across the 90 positions we hold weights for in HXE and 504 in SPY, against full books of 90 and 1,515.
Top Shared Holdings
| Stock | Weight in HXE | Weight in SPY | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 1.36% | 2.48% | 1.12% |
| GOOGAlphabet Inc. C | 1.33% | 2.49% | 1.16% |
| METAMeta Platforms Inc | 1.28% | 2.22% | 0.94% |
| AAPLApple, Inc | -4.12% | 7.45% | 11.57% |
| TSLATesla Inc | 1.07% | 1.54% | 0.47% |
| MUMicron Technology, Inc. | 0.94% | 1.59% | 0.65% |
| TERTeradyne Inc - Common | 2.25% | 0.08% | 2.17% |
| LLYEli Lilly & Co. | 0.81% | 1.37% | 0.56% |
| JPMJpmorgan Chase | 0.71% | 1.43% | 0.72% |
| MRVLMarvell Technology Inc | 1.80% | 0.29% | 1.51% |
45.0% of SPY is already inside HXE.
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, HXE or SPY?
HXE 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.
What is the holdings overlap between HXE and SPY?
At least 45.0% of SPY's money is in holdings HXE also owns. Our book for HXE is partial, so the real figure is this or higher. They hold 65 positions in common, counted across the 90 positions we hold weights for in HXE and 504 in SPY.
Which pays a higher dividend, HXE or SPY?
HXE yields 0.00% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than HXE?
SPY has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.