KWIN vs SPY
KraneShares Wahed Alternative Income Index ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KWIN 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 | KWIN | SPY |
|---|---|---|
| Expense Ratio | 0.51% | 0.09%Best |
| AUM | $62M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 322 | 505 |
| YTD Return | +2.45% | +12.09%Best |
| 1Y Return | - | +16.29% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Fund Family | KraneShares | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Nov 5, 2025 | Jan 22, 1993 |
Not shown on this pair: Volatility (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
KWIN 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.
KWIN vs SPY Performance
KraneShares Wahed Alternative Income Index ETF (KWIN) is an ETF from KraneShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Year to date, KWIN is up 2.45% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Fees and Cost Over Time
KWIN charges 0.51% per year while SPY charges 0.09%. On a $10,000 position that is $51 vs $9 annually, a gap of $42 per year that compounds over a long holding period. On income, KWIN currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
At least 10.1% of SPY's money is in holdings KWIN also owns.
Only one direction is shown: for KWIN, our book for it lists positions totalling 106.7% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
SPY and KWIN share little of their money.
25 positions in common, counted across the 25 positions we hold weights for in KWIN and 504 in SPY, against full books of 322 and 505.
Top Shared Holdings
| Stock | Weight in KWIN | Weight in SPY | Difference |
|---|---|---|---|
| TSLATesla Inc | 6.13% | 1.52% | 4.61% |
| AMZNAmazon.Com Inc | 3.61% | 3.79% | 0.18% |
| SNPSSynopsys | 6.12% | 0.12% | 6.00% |
| VRTXNvaesrtex Pharmaceuticals Inc | 5.64% | 0.21% | 5.43% |
| WDAYWorkday, Inc., Class A | 5.72% | 0.06% | 5.66% |
| CDNSCadence Design Systems Inc. | 5.21% | 0.13% | 5.08% |
| NOWServicenow, Inc | 4.79% | 0.22% | 4.57% |
| BSXBoston Scientific Corp. | 4.66% | 0.11% | 4.55% |
| CRWDCrowdstrike Holdings Inc | 4.41% | 0.33% | 4.08% |
| ADBEAdobe Systems | 4.55% | 0.18% | 4.37% |
You are not choosing between two funds in isolation.
Whichever of KWIN 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, KWIN or SPY?
KWIN has an expense ratio of 0.51% while SPY charges 0.09%. SPY is the cheaper option, by $42 a year on a $10,000 investment.
What is the holdings overlap between KWIN and SPY?
At least 10.1% of SPY's money is in holdings KWIN also owns. Our book for KWIN is partial, so the real figure is this or higher. They hold 25 positions in common, counted across the 25 positions we hold weights for in KWIN and 504 in SPY.
Which pays a higher dividend, KWIN or SPY?
KWIN yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than KWIN?
SPY has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.