MGMT vs SPY
Ballast Small/Mid Cap ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MGMT delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MGMT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.10% | 0.09% | |
| AUM | $176M | $821.1B | |
| Dividend Yield | 0.30% | 1.01% | |
| Holdings | 55 | 505 | |
| YTD Return | +16.01% | +12.93% | |
| 1Y Return | +21.05% | +20.62% | |
| 3Y Return (annualized) | +14.95% | +22.00% | |
| 5Y Return (annualized) | +8.33% | +13.33% | |
| Volatility (annualized) | 18.1% | 15.3% | |
| Max Drawdown | -24.9% | -56.5% | |
| Fund Family | Ballast Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 2, 2020 | Jan 22, 1993 |
MGMT vs SPY Performance
Ballast Small/Mid Cap ETF (MGMT) is a ETF from Ballast Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MGMT returned +21.05% while SPY returned +20.62%. Year to date, MGMT is up 16.01% versus a gain of 12.93% for SPY.
Over three years, MGMT compounded at +14.95% per year against +22.00% for SPY; over five years the annualized figures are +8.33% and +13.33% respectively. Across the full 6-year window we track, MGMT has the edge at +13.91% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MGMT has been the more volatile fund, with annualized monthly volatility of 18.1% 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 -24.9% for MGMT 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MGMT charges 1.10% per year while SPY charges 0.09%. On a $10,000 position that is $110 vs $9 annually, a gap of $101 per year that compounds over a long holding period. On income, MGMT currently yields 0.30% against 1.01% for SPY.
Holdings Overlap
MGMT and SPY share 0 holdings out of 559 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MGMT or SPY?
MGMT has an expense ratio of 1.10% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $101 per year of difference.
Which performed better, MGMT or SPY?
Over the past year MGMT returned +21.05% vs +20.62% for SPY, so MGMT leads on 1-year performance. Over the longest common window we track (6 years), MGMT annualized +13.91% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, MGMT or SPY?
MGMT has been the more volatile fund at 18.1% annualized versus 15.3% for SPY. Worst drawdown: MGMT -24.9% vs SPY -56.5%.
Should I hold both MGMT and SPY?
MGMT and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MGMT and SPY?
MGMT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 559 unique securities.
Which pays a higher dividend, MGMT or SPY?
MGMT yields 0.30% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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