KEAT vs SPY
Keating Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. KEAT delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | KEAT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $122M | $821.1B | |
| Dividend Yield | 2.51% | 1.01% | |
| Holdings | 30 | 505 | |
| YTD Return | +16.13% | +12.22% | |
| 1Y Return | +27.26% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 12.2% | 15.3% | |
| Max Drawdown | -10.6% | -56.5% | |
| Fund Family | Keating Investment Counselors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 27, 2024 | Jan 22, 1993 |
KEAT vs SPY Performance
Keating Active ETF (KEAT) is a ETF from Keating Investment Counselors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KEAT returned +27.26% while SPY returned +20.83%. Year to date, KEAT is up 16.13% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.2% for KEAT. 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 -10.6% for KEAT and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.14. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
KEAT charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, KEAT currently yields 2.51% against 1.01% for SPY.
Holdings Overlap
KEAT and SPY share 6 holdings out of 527 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, KEAT or SPY?
KEAT has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, KEAT or SPY?
Over the past year KEAT returned +27.26% vs +20.83% for SPY, so KEAT leads on 1-year performance. Over the longest common window we track (2 years), KEAT annualized +17.39% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, KEAT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.2% for KEAT. Worst drawdown: KEAT -10.6% vs SPY -56.5%.
Should I hold both KEAT and SPY?
KEAT and SPY have a monthly-return correlation of 0.14, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between KEAT and SPY?
KEAT and SPY share 6 common holdings with a 1.1% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, KEAT or SPY?
KEAT yields 2.51% while SPY yields 1.01%, so KEAT currently pays the higher dividend yield.
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