MFUS vs SPY
PIMCO RAFI Dynamic Multi-Factor US Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MFUS or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. MFUS led over 1Y and 5Y, SPY over 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. MFUS is less concentrated, with 16.5% of the fund in its ten largest positions against 38.0%.
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 | MFUS | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $297M | $804.7B |
| Dividend Yield | 1.37% | 0.98% |
| Holdings | 884 | 505 |
| YTD Return | +16.85%Best | +12.47% |
| 1Y Return | +19.52%Best | +17.51% |
| 3Y Return (annualized) | +20.73% | +21.18%Best |
| 5Y Return (annualized) | +13.03%Best | +12.88% |
| Volatility (annualized) | 15.6%Best | 16.2% |
| Max Drawdown | -35.2% | -34.1%Best |
| $10,000 over 5 years | $18,449Best | $18,327 |
| Top 10 Weight | 16.5%Best | 38.0% |
| Fund Family | PIMCO (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Aug 31, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Sep 6, 2017 to Sep 11, 2026 (9 years).
MFUS 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 9 years both funds cover.
MFUS vs SPY Performance
PIMCO RAFI Dynamic Multi-Factor US Equity ETF (MFUS) is an ETF from PIMCO (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MFUS returned +19.52% while SPY returned +17.51%. Year to date, MFUS is up 16.85% versus a gain of 12.47% for SPY.
Over three years, MFUS compounded at +20.73% per year against +21.18% for SPY; over five years the annualized figures are +13.03% and +12.88% respectively. Across the full 9-year window we track, SPY has the edge at +14.29% annualized vs +12.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 15.6% for MFUS. 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 -35.2% for MFUS and -34.1% 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MFUS charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, MFUS currently yields 1.37% against 0.98% for SPY.
Holdings Overlap
75.3% of MFUS's money is in holdings SPY also owns. 65.6% of SPY's money is in holdings MFUS also owns.
Most of MFUS is already inside SPY. Owning both mostly buys the same companies twice.
335 positions in common, counted across the 794 positions we hold weights for in MFUS and 504 in SPY, against full books of 884 and 505.
What only one of them owns
Our book lists 162 positions for SPY that do not appear in our book for MFUS (34.0% of the fund), and 441 for MFUS that do not appear in SPY (20.3%).
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 MFUS | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.60% | 7.71% | 7.11% |
| AAPLApple, Inc | 1.22% | 6.83% | 5.61% |
| AVGOBroadcom Inc | 1.47% | 2.97% | 1.50% |
| INTCIntel Corp. | 2.83% | 0.72% | 2.11% |
| LLYEli Lilly & Co. | 1.50% | 1.33% | 0.17% |
| JNJJohnson & Johnson | 1.75% | 0.92% | 0.83% |
| WMTWalmart, Inc. | 1.72% | 0.73% | 0.99% |
| BRK.BBerkshire Hathaway B | 1.01% | 1.42% | 0.41% |
| MUMicron Technology, Inc. | 0.71% | 1.51% | 0.80% |
| METAMeta Platforms, Inc. | 0.19% | 1.94% | 1.75% |
75.3% of MFUS 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, MFUS or SPY?
MFUS has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, MFUS or SPY?
Over the past year MFUS returned +19.52% vs +17.51% for SPY, so MFUS leads on 1-year performance. Over the longest common window we track (9 years), MFUS annualized +12.54% vs +14.29% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MFUS or SPY?
SPY has been the more volatile fund at 16.2% annualized versus 15.6% for MFUS. Worst drawdown: MFUS -35.2% vs SPY -34.1%.
Should I hold both MFUS and SPY?
MFUS and SPY have a monthly-return correlation of 0.93, 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.
What is the holdings overlap between MFUS and SPY?
75.3% of MFUS's money is in holdings SPY also owns. 65.6% of SPY's is in holdings MFUS also owns. They hold 335 positions in common, counted across the 794 positions we hold weights for in MFUS and 504 in SPY.
Which pays a higher dividend, MFUS or SPY?
MFUS yields 1.37% while SPY yields 0.98%, so MFUS currently pays the higher dividend yield.
Is SPY better than MFUS?
SPY has a lower expense ratio. MFUS led over 1Y and 5Y, SPY over 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. MFUS is less concentrated, with 16.5% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.