MKOR vs SPY
Matthews Korea Active ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MKOR delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MKOR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $137M | $821.1B | |
| Dividend Yield | 1.81% | 1.01% | |
| Holdings | 47 | 505 | |
| YTD Return | +71.58% | +14.24% | |
| 1Y Return | +127.15% | +21.71% | |
| 3Y Return (annualized) | +39.55% | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 37.1% | 15.3% | |
| Max Drawdown | -29.4% | -56.5% | |
| Fund Family | Matthews Asia Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 29, 2010 | Jan 22, 1993 |
MKOR vs SPY Performance
Matthews Korea Active ETF (MKOR) 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 MKOR returned +127.15% while SPY returned +21.71%. Year to date, MKOR is up 71.58% versus a gain of 14.24% for SPY.
Over three years, MKOR compounded at +39.55% per year against +22.10% for SPY. Across the full 3-year window we track, MKOR has the edge at +34.97% annualized vs +8.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MKOR has been the more volatile fund, with annualized monthly volatility of 37.1% 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 -29.4% for MKOR 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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MKOR 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, MKOR currently yields 1.81% against 1.01% for SPY.
Holdings Overlap
MKOR and SPY share 0 holdings out of 555 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, MKOR or SPY?
MKOR 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, MKOR or SPY?
Over the past year MKOR returned +127.15% vs +21.71% for SPY, so MKOR leads on 1-year performance. Over the longest common window we track (3 years), MKOR annualized +34.97% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, MKOR or SPY?
MKOR has been the more volatile fund at 37.1% annualized versus 15.3% for SPY. Worst drawdown: MKOR -29.4% vs SPY -56.5%.
Should I hold both MKOR and SPY?
MKOR and SPY have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MKOR and SPY?
MKOR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, MKOR or SPY?
MKOR yields 1.81% while SPY yields 1.01%, so MKOR currently pays the higher dividend yield.
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