MAKX vs SPY
Proshares S&P Kensho Smart Factories ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MAKX delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MAKX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.58% | 0.09% | |
| AUM | $5M | $821.1B | |
| Dividend Yield | 0.14% | 1.01% | |
| Holdings | 25 | 505 | |
| YTD Return | +29.88% | +12.22% | |
| 1Y Return | +35.61% | +20.83% | |
| 3Y Return (annualized) | +24.60% | +21.70% | |
| 5Y Return (annualized) | +11.25% | +12.98% | |
| Volatility (annualized) | 29.2% | 15.3% | |
| Max Drawdown | -40.3% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 29, 2021 | Jan 22, 1993 |
MAKX vs SPY Performance
Proshares S&P Kensho Smart Factories ETF (MAKX) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MAKX returned +35.61% while SPY returned +20.83%. Year to date, MAKX is up 29.88% versus a gain of 12.22% for SPY.
Over three years, MAKX compounded at +24.60% per year against +21.70% for SPY; over five years the annualized figures are +11.25% and +12.98% respectively. Across the full 5-year window we track, MAKX has the edge at +11.25% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MAKX has been the more volatile fund, with annualized monthly volatility of 29.2% compared with 15.3% 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 -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 0.83. 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 0.14% against 1.01% for SPY.
Holdings Overlap
MAKX and SPY share 9 holdings out of 519 unique holdings combined, representing a 4.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $49 per year of difference.
Which performed better, MAKX or SPY?
Over the past year MAKX returned +35.61% vs +20.83% for SPY, so MAKX leads on 1-year performance. Over the longest common window we track (5 years), MAKX annualized +11.25% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, MAKX or SPY?
MAKX has been the more volatile fund at 29.2% annualized versus 15.3% for SPY. Worst drawdown: MAKX -40.3% vs SPY -56.5%.
Should I hold both MAKX and SPY?
MAKX and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MAKX and SPY?
MAKX and SPY share 9 common holdings with a 4.1% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, MAKX or SPY?
MAKX yields 0.14% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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