MAKX vs SPY
Proshares S&P Kensho Smart Factories ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MAKX or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. MAKX led over 1Y, SPY over the full window. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 59.1%.
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 | MAKX | SPY |
|---|---|---|
| Expense Ratio | 0.58% | 0.09%Best |
| AUM | $5M | $777.9B |
| Dividend Yield | 0.08% | 1.00% |
| Holdings | 25 | 1,011 |
| Volatility (annualized) | 28.8% | 15.5%Best |
| Max Drawdown | -40.3% | -24.5%Best |
| $10,000 over 5 years | $16,798 | $19,305Best |
| Top 10 Weight | 59.1% | 38.9%Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 29, 2021 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 25 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. MAKX has data through Oct 12, 2026 and SPY through Nov 6, 2026.
Volatility and max drawdown, and the $10,000 over 5 years row, are measured over the window both funds cover: Sep 30, 2021 to Oct 12, 2026 (5 years).
Risk: Volatility and Drawdowns
MAKX has been the more volatile fund, with annualized monthly volatility of 28.8% compared with 15.5% for SPY. 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 -40.3% for MAKX and -24.5% 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MAKX charges 0.58% per year while SPY charges 0.09%. On a $10,000 position that is $58 vs $9 annually, a gap of $49 per year that compounds over a long holding period. On income, MAKX currently yields 0.08% against 1.00% for SPY.
Holdings Overlap
36.7% of MAKX's money is in holdings SPY also owns. 9.1% of SPY's money is in holdings MAKX also owns.
The two portfolios partly overlap.
9 positions in common, counted across the 24 positions we hold weights for in MAKX and 504 in SPY, against full books of 25 and 1,011.
What only one of them owns
Our book lists 490 positions for SPY that do not appear in our book for MAKX (90.6% of the fund), and 11 for MAKX that do not appear in SPY (49.8%).
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 MAKX | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 3.39% | 8.05% | 4.66% |
| EMREmerson Elec Co | 6.18% | 0.14% | 6.04% |
| ROKRockwell Automation | 5.60% | 0.07% | 5.53% |
| ADSKAutodesk, Inc. | 4.94% | 0.07% | 4.87% |
| ZBRAZebra Technologies Corp | 4.92% | 0.03% | 4.89% |
| AMATApplied Material | 3.79% | 0.53% | 3.26% |
| SNPSSynopsys | 2.93% | 0.14% | 2.79% |
| DOVDover Corp. | 2.51% | 0.04% | 2.47% |
| ONOn Semiconductor Corp | 2.42% | 0.04% | 2.38% |
36.7% of MAKX 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, MAKX or SPY?
MAKX has an expense ratio of 0.58% while SPY charges 0.09%. SPY is the cheaper option, by $49 a year on a $10,000 investment.
Which is riskier, MAKX or SPY?
MAKX has been the more volatile fund at 28.8% annualized versus 15.5% for SPY. Worst drawdown: MAKX -40.3% vs SPY -24.5%.
Should I hold both MAKX and SPY?
MAKX and SPY have a monthly-return correlation of 0.82, 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 MAKX and SPY?
36.7% of MAKX's money is in holdings SPY also owns. 9.1% of SPY's is in holdings MAKX also owns. They hold 9 positions in common, counted across the 24 positions we hold weights for in MAKX and 504 in SPY.
Which pays a higher dividend, MAKX or SPY?
MAKX yields 0.08% while SPY yields 1.00%, so SPY currently pays the higher dividend yield.
Is SPY better than MAKX?
SPY has a lower expense ratio. MAKX led over 1Y, SPY over the full window. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 59.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.