MJ vs SPY
Amplify Alternative Harvest 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 | MJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $99M | $789.1B | |
| Dividend Yield | 2.33% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | -19.22% | +13.39% | |
| 1Y Return | -18.22% | +22.52% | |
| 3Y Return (annualized) | -8.39% | +21.36% | |
| 5Y Return (annualized) | -32.67% | +13.19% | |
| Volatility (annualized) | 50.5% | 15.3% | |
| Max Drawdown | -95.8% | -56.5% | |
| Fund Family | Amplify ETFs | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Dec 3, 2015 | Jan 22, 1993 |
MJ vs SPY Performance
Amplify Alternative Harvest ETF (MJ) is a ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MJ returned -18.22% while SPY returned +22.52%. Year to date, MJ is down 19.22% versus a gain of 13.39% for SPY.
Over three years, MJ compounded at -8.39% per year against +21.36% for SPY; over five years the annualized figures are -32.67% and +13.19% respectively. Across the full 11-year window we track, SPY has the edge at +8.84% annualized vs -17.42%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MJ has been the more volatile fund, with annualized monthly volatility of 50.5% 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 -95.8% for MJ 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 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MJ charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, MJ currently yields 2.33% against 1.01% for SPY.
Holdings Overlap
MJ and SPY share 0 holdings out of 513 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, MJ or SPY?
MJ has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, MJ or SPY?
Over the past year MJ returned -18.22% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), MJ annualized -17.42% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MJ or SPY?
MJ has been the more volatile fund at 50.5% annualized versus 15.3% for SPY. Worst drawdown: MJ -95.8% vs SPY -56.5%.
Should I hold both MJ and SPY?
MJ and SPY have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MJ and SPY?
MJ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, MJ or SPY?
MJ yields 2.33% while SPY yields 1.01%, so MJ currently pays the higher dividend yield.
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