MARW vs SPY
AllianzIM US Equity Buffer20 Mar ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MARW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.74% | 0.09% | |
| AUM | $87M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 5 | 505 | |
| YTD Return | +6.84% | +14.47% | |
| 1Y Return | +10.79% | +21.96% | |
| 3Y Return (annualized) | +11.11% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 4.9% | 15.3% | |
| Max Drawdown | -7.6% | -56.5% | |
| Fund Family | AllianzIM | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 28, 2023 | Jan 22, 1993 |
MARW vs SPY Performance
AllianzIM US Equity Buffer20 Mar ETF (MARW) is a ETF from AllianzIM and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MARW returned +10.79% while SPY returned +21.96%. Year to date, MARW is up 6.84% versus a gain of 14.47% for SPY.
Over three years, MARW compounded at +11.11% per year against +21.70% for SPY. Across the full 4-year window we track, MARW has the edge at +11.78% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.9% 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 -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 0.94. 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 1.01% for SPY.
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. On a $10,000 investment, that is $65 per year of difference.
Which performed better, MARW or SPY?
Over the past year MARW returned +10.79% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), MARW annualized +11.78% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MARW or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.9% for MARW. Worst drawdown: MARW -7.6% vs SPY -56.5%.
Should I hold both MARW and SPY?
MARW and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
Which pays a higher dividend, MARW or SPY?
MARW yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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