LOWV vs SPY
AB US Low Volatility Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LOWV or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.7%.
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 | LOWV | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $200M | $804.7B |
| Dividend Yield | 0.86% | 0.98% |
| Holdings | 72 | 505 |
| YTD Return | +6.11% | +12.99%Best |
| 1Y Return | +6.25% | +16.73%Best |
| 3Y Return (annualized) | +15.90% | +22.52%Best |
| 5Y Return (annualized) | - | +13.07% |
| Volatility (annualized) | 9.8%Best | 12.4% |
| Max Drawdown | -13.9%Best | -18.8% |
| $10,000 over 3.5 years | $17,210 | $20,369Best |
| Top 10 Weight | 41.7% | 37.8%Best |
| Fund Family | AllianceBernstein L.P. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Mar 22, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Mar 22, 2023 to Sep 23, 2026 (3.5 years).
LOWV 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 3.5 years both funds cover.
LOWV vs SPY Performance
AB US Low Volatility Equity ETF (LOWV) is an ETF from AllianceBernstein L.P. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year LOWV returned +6.25% while SPY returned +16.73%. Year to date, LOWV is up 6.11% versus a gain of 12.99% for SPY.
Over three years, LOWV compounded at +15.90% per year against +22.52% for SPY. Across the full 4-year window we track, SPY has the edge at +22.54% annualized vs +16.78%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 9.8% for LOWV. 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 -13.9% for LOWV 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
LOWV charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, LOWV currently yields 0.86% against 0.98% for SPY.
Holdings Overlap
86.3% of LOWV's money is in holdings SPY also owns. 46.8% of SPY's money is in holdings LOWV also owns.
Most of LOWV is already inside SPY. Owning both mostly buys the same companies twice.
52 positions in common, counted across the 68 positions we hold weights for in LOWV and 504 in SPY, against full books of 72 and 505.
What only one of them owns
Our book lists 446 positions for SPY that do not appear in our book for LOWV (52.6% of the fund), and 10 for LOWV that do not appear in SPY (7.7%).
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 LOWV | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.27% | 8.01% | 1.74% |
| AAPLApple, Inc | 6.52% | 7.26% | 0.74% |
| MSFTMicrosoft Corp | 5.93% | 5.66% | 0.27% |
| GOOGAlphabet Inc | 5.87% | 2.39% | 3.48% |
| AMZNAmazon.Com Inc | 3.71% | 3.79% | 0.08% |
| AVGOBroadcom Inc | 4.19% | 2.66% | 1.53% |
| VVisa Inc Class A | 2.36% | 0.94% | 1.42% |
| JPMJpmorgan Chase | 1.68% | 1.45% | 0.23% |
| LLYEli Lilly & Co. | 1.70% | 1.40% | 0.30% |
| CSCOCisco Systems Inc. - Ordinary Shares | 2.37% | 0.66% | 1.71% |
86.3% of LOWV is already inside SPY.
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, LOWV or SPY?
LOWV has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, LOWV or SPY?
Over the past year LOWV returned +6.25% vs +16.73% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), LOWV annualized +16.78% vs +22.54% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LOWV or SPY?
SPY has been the more volatile fund at 12.4% annualized versus 9.8% for LOWV. Worst drawdown: LOWV -13.9% vs SPY -18.8%.
Should I hold both LOWV and SPY?
LOWV and SPY have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between LOWV and SPY?
86.3% of LOWV's money is in holdings SPY also owns. 46.8% of SPY's is in holdings LOWV also owns. They hold 52 positions in common, counted across the 68 positions we hold weights for in LOWV and 504 in SPY.
Which pays a higher dividend, LOWV or SPY?
LOWV yields 0.86% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than LOWV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.92. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.