MDPL vs SPY
Monarch Dividend Plus Index 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 | MDPL | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.24% | 0.09% | |
| AUM | $58M | $789.1B | |
| Dividend Yield | 1.66% | 1.01% | |
| Holdings | 32 | 505 | |
| YTD Return | +9.01% | +13.75% | |
| 1Y Return | +13.70% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 15.5% | 15.3% | |
| Max Drawdown | -14.2% | -56.5% | |
| Fund Family | Monarch Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 12, 2024 | Jan 22, 1993 |
MDPL vs SPY Performance
Monarch Dividend Plus Index ETF (MDPL) is a ETF from Monarch Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MDPL returned +13.70% while SPY returned +22.91%. Year to date, MDPL is up 9.01% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
MDPL has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -14.2% for MDPL 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 0.36. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MDPL charges 1.24% per year while SPY charges 0.09%. On a $10,000 position that is $124 vs $9 annually, a gap of $115 per year that compounds over a long holding period. On income, MDPL currently yields 1.66% against 1.01% for SPY.
Holdings Overlap
MDPL and SPY share 17 holdings out of 516 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MDPL or SPY?
MDPL has an expense ratio of 1.24% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $115 per year of difference.
Which performed better, MDPL or SPY?
Over the past year MDPL returned +13.70% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), MDPL annualized +7.23% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MDPL or SPY?
MDPL has been the more volatile fund at 15.5% annualized versus 15.3% for SPY. Worst drawdown: MDPL -14.2% vs SPY -56.5%.
Should I hold both MDPL and SPY?
MDPL and SPY have a monthly-return correlation of 0.36, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MDPL and SPY?
MDPL and SPY share 17 common holdings with a 1.5% weight overlap. Combined, they hold 516 unique securities.
Which pays a higher dividend, MDPL or SPY?
MDPL yields 1.66% while SPY yields 1.01%, so MDPL currently pays the higher dividend yield.
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