KAT vs SPYM
Scharf ETF vs State Street SPDR Portfolio S&P 500 ETF
Which is better, KAT or SPYM?
SPYM has been ahead.
SPYM has a lower expense ratio. SPYM led over 1Y and the full window. SPYM is less concentrated, with 39.0% of the fund in its ten largest positions against 50.9%.
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 | KAT | SPYM |
|---|---|---|
| Expense Ratio | 0.75% | 0.02%Best |
| AUM | $657M | $185.2B |
| Dividend Yield | 0.53% | 1.01% |
| Holdings | 68 | 509 |
| YTD Return | +6.42% | +13.57%Best |
| 1Y Return | +4.30% | +17.53%Best |
| 3Y Return (annualized) | - | +22.46% |
| 5Y Return (annualized) | - | +13.29% |
| Volatility (annualized) | 12.7% | 12.3%Best |
| Max Drawdown | -9.3% | -8.9%Best |
| $10,000 over 1.1 years | $10,725 | $12,074Best |
| Top 10 Weight | 50.9% | 39.0%Best |
| Fund Family | Scharf Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Dec 30, 2011 | Nov 8, 2005 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 25, 2025 to Oct 14, 2026 (1.1 years).
KAT vs SPYM 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.
KAT vs SPYM Performance
Scharf ETF (KAT) is an ETF from Scharf Funds and State Street SPDR Portfolio S&P 500 ETF (SPYM) is an ETF from State Street Investment Management. Over the past year KAT returned +4.30% while SPYM returned +17.53%. Year to date, KAT is up 6.42% versus a gain of 13.57% for SPYM.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KAT has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 12.3% for SPYM. 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 -9.3% for KAT and -8.9% for SPYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
KAT charges 0.75% per year while SPYM charges 0.02%. On a $10,000 position that is $75 vs $2 annually, a gap of $73 per year that compounds over a long holding period. On income, KAT currently yields 0.53% against 1.01% for SPYM.
Holdings Overlap
77.6% of KAT's money is in holdings SPYM also owns. 16.9% of SPYM's money is in holdings KAT also owns.
Most of KAT is already inside SPYM. Owning both mostly buys the same companies twice.
23 positions in common, counted across the 31 positions we hold weights for in KAT and 505 in SPYM, against full books of 68 and 509.
What only one of them owns
Our book lists 475 positions for SPYM that do not appear in our book for KAT (82.4% of the fund), and 3 for KAT that do not appear in SPYM (9.1%).
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 KAT | Weight in SPYM | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.30% | 5.76% | 0.54% |
| AMZNAmazon.Com Inc | 5.94% | 3.70% | 2.24% |
| METAMeta Platforms Inc | 6.06% | 2.41% | 3.65% |
| OXYOccidental Petroleum Corp. | 5.72% | 0.06% | 5.66% |
| UNPUnion Pacific Corp | 5.36% | 0.25% | 5.11% |
| VVisa Inc Class A | 4.50% | 0.92% | 3.58% |
| MCKMckesson Corp. | 4.70% | 0.16% | 4.54% |
| MMCMarsh & Mclennan Cos Inc Common Stock Usd 1 | 4.11% | 0.12% | 3.99% |
| SCHWSchwab Strategic T | 3.47% | 0.24% | 3.23% |
| AAgilent Technologies Inc | 3.36% | 0.07% | 3.29% |
77.6% of KAT is already inside SPYM.
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, KAT or SPYM?
KAT has an expense ratio of 0.75% while SPYM charges 0.02%. SPYM is the cheaper option, by $73 a year on a $10,000 investment.
Which performed better, KAT or SPYM?
Over the past year KAT returned +4.30% vs +17.53% for SPYM, so SPYM leads on 1-year performance. Over the longest common window we track (1 years), KAT annualized +6.57% vs +18.69% for SPYM. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KAT or SPYM?
KAT has been the more volatile fund at 12.7% annualized versus 12.3% for SPYM. Worst drawdown: KAT -9.3% vs SPYM -8.9%.
Should I hold both KAT and SPYM?
KAT and SPYM have a monthly-return correlation of 0.48, 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 KAT and SPYM?
77.6% of KAT's money is in holdings SPYM also owns. 16.9% of SPYM's is in holdings KAT also owns. They hold 23 positions in common, counted across the 31 positions we hold weights for in KAT and 505 in SPYM.
Which pays a higher dividend, KAT or SPYM?
KAT yields 0.53% while SPYM yields 1.01%, so SPYM currently pays the higher dividend yield.
Is SPYM better than KAT?
SPYM has a lower expense ratio. SPYM led over 1Y and the full window. SPYM is less concentrated, with 39.0% of the fund in its ten largest positions against 50.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.