MARW vs SPY
AllianzIM US Equity Buffer20 Mar ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MARW or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94.
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 | MARW | SPY |
|---|---|---|
| Expense Ratio | 0.74% | 0.09%Best |
| AUM | $85M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 5 | 505 |
| YTD Return | +7.01% | +12.22%Best |
| 1Y Return | +9.84% | +16.97%Best |
| 3Y Return (annualized) | +10.99% | +21.16%Best |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 4.8%Best | 12.5% |
| Max Drawdown | -7.6%Best | -18.8% |
| $10,000 over 3.5 years | $14,633 | $20,011Best |
| Fund Family | AllianzIM | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 28, 2023 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3.5 years row, are measured over the window both funds cover: Mar 1, 2023 to Sep 17, 2026 (3.5 years).
MARW 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.
MARW vs SPY Performance
AllianzIM US Equity Buffer20 Mar ETF (MARW) is an ETF from AllianzIM and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MARW returned +9.84% while SPY returned +16.97%. Year to date, MARW is up 7.01% versus a gain of 12.22% for SPY.
Over three years, MARW compounded at +10.99% per year against +21.16% for SPY. Across the full 4-year window we track, SPY has the edge at +21.92% annualized vs +11.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.5% compared with 4.8% for MARW. 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 -7.6% for MARW 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MARW charges 0.74% per year while SPY charges 0.09%. On a $10,000 position that is $74 vs $9 annually, a gap of $65 per year that compounds over a long holding period. On income, MARW currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of MARW 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, MARW or SPY?
MARW has an expense ratio of 0.74% while SPY charges 0.09%. SPY is the cheaper option, by $65 a year on a $10,000 investment.
Which performed better, MARW or SPY?
Over the past year MARW returned +9.84% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), MARW annualized +11.49% vs +21.92% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MARW or SPY?
SPY has been the more volatile fund at 12.5% annualized versus 4.8% for MARW. Worst drawdown: MARW -7.6% vs SPY -18.8%.
Should I hold both MARW and SPY?
MARW and SPY have a monthly-return correlation of 0.94, 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.
Which pays a higher dividend, MARW or SPY?
MARW yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than MARW?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. Which one suits a particular account depends on what it is for. This is information, not a recommendation.