MINV vs SPY
Matthews Asia Innovators Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MINV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MINV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $161M | $789.1B | |
| Dividend Yield | 0.97% | 1.01% | |
| Holdings | 62 | 505 | |
| YTD Return | +35.86% | +13.39% | |
| 1Y Return | +53.33% | +22.52% | |
| 3Y Return (annualized) | +29.58% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 27.5% | 15.3% | |
| Max Drawdown | -23.5% | -56.5% | |
| Fund Family | Matthews Asia Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 13, 2022 | Jan 22, 1993 |
MINV vs SPY Performance
Matthews Asia Innovators Active ETF (MINV) is a ETF from Matthews Asia Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MINV returned +53.33% while SPY returned +22.52%. Year to date, MINV is up 35.86% versus a gain of 13.39% for SPY.
Over three years, MINV compounded at +29.58% per year against +21.36% for SPY. Across the full 4-year window we track, MINV has the edge at +18.99% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MINV has been the more volatile fund, with annualized monthly volatility of 27.5% 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 -23.5% for MINV 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 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MINV charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, MINV currently yields 0.97% against 1.01% for SPY.
Holdings Overlap
MINV and SPY share 0 holdings out of 569 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, MINV or SPY?
MINV has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, MINV or SPY?
Over the past year MINV returned +53.33% vs +22.52% for SPY, so MINV leads on 1-year performance. Over the longest common window we track (4 years), MINV annualized +18.99% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MINV or SPY?
MINV has been the more volatile fund at 27.5% annualized versus 15.3% for SPY. Worst drawdown: MINV -23.5% vs SPY -56.5%.
Should I hold both MINV and SPY?
MINV and SPY have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MINV and SPY?
MINV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 569 unique securities.
Which pays a higher dividend, MINV or SPY?
MINV yields 0.97% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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