LIAE vs SPY
LifeX 2050 Inflation-Protected Longevity Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LIAE or SPY?
Inflation Protection against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 91.3%.
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 | LIAE | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $3M | $804.7B |
| Dividend Yield | 9.77% | 0.98% |
| Holdings | 19 | 505 |
| YTD Return | -6.20% | +12.09%Best |
| 1Y Return | -6.18% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 5.9%Best | 12.7% |
| Max Drawdown | -8.5%Best | -18.8% |
| $10,000 over 2 years | $9,417 | $13,844Best |
| Top 10 Weight | 91.3% | 37.8%Best |
| Fund Family | Stone Ridge Asset Management | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Inflation Protection | Large Cap Blend |
| Inception | Jan 17, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 16, 2024 to Sep 18, 2026 (2 years).
LIAE 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 covers the 2 years both funds cover.
LIAE vs SPY Performance
LifeX 2050 Inflation-Protected Longevity Income ETF (LIAE) is an ETF from Stone Ridge Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year LIAE returned -6.18% while SPY returned +16.29%. Year to date, LIAE is down 6.20% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 5.9% for LIAE. 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 -8.5% for LIAE and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.36. They move together some of the time, and apart the rest.
Fees and Cost Over Time
LIAE charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, LIAE currently yields 9.77% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 17 holdings in LIAE and 504 in SPY, totalling 99.3% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 17 positions we hold weights for in LIAE and 504 in SPY, against full books of 19 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for LIAE (99.3% of the fund), and 17 for LIAE that do not appear in SPY (99.3%).
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.
You are not choosing between two funds in isolation.
Whichever of LIAE 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, LIAE or SPY?
LIAE has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, LIAE or SPY?
Over the past year LIAE returned -6.18% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), LIAE annualized -2.96% vs +17.66% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LIAE or SPY?
SPY has been the more volatile fund at 12.7% annualized versus 5.9% for LIAE. Worst drawdown: LIAE -8.5% vs SPY -18.8%.
Should I hold both LIAE and SPY?
LIAE and SPY have a monthly-return correlation of 0.36, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, LIAE or SPY?
LIAE yields 9.77% while SPY yields 0.98%, so LIAE currently pays the higher dividend yield.
Is SPY better than LIAE?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 91.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.