MNZL vs SPY
Manzil Russell Halal USA Broad Market ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MNZL or SPY?
MNZL has been ahead.
SPY has a lower expense ratio. MNZL led over 1Y. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 41.8%.
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 | MNZL | SPY |
|---|---|---|
| Expense Ratio | 0.40% | 0.09%Best |
| AUM | $38M | $777.9B |
| Dividend Yield | 0.03% | 1.00% |
| Holdings | 975 | 1,011 |
| YTD Return | +16.32%Best | +10.63% |
| 1Y Return | +20.24%Best | +11.24% |
| 3Y Return (annualized) | - | +20.94% |
| 5Y Return (annualized) | - | +11.58% |
| Volatility (annualized) | 17.1% | 13.4%Best |
| Top 10 Weight | 41.8% | 38.9%Best |
| Fund Family | Manzil Investment Advisors, LLC | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window.
MNZL 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
MNZL vs SPY Performance
Manzil Russell Halal USA Broad Market ETF (MNZL) is an ETF from Manzil Investment Advisors, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MNZL returned +20.24% while SPY returned +11.24%. Year to date, MNZL is up 16.32% versus a gain of 10.63% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MNZL has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 13.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MNZL charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, MNZL currently yields 0.03% against 1.00% for SPY.
Holdings Overlap
90.8% of MNZL's money is in holdings SPY also owns. 40.9% of SPY's money is in holdings MNZL also owns.
Most of MNZL is already inside SPY. Owning both mostly buys the same companies twice.
242 positions in common, counted across the 484 positions we hold weights for in MNZL and 504 in SPY, against full books of 975 and 1,011.
What only one of them owns
Our book lists 257 positions for SPY that do not appear in our book for MNZL (58.8% of the fund), and 216 for MNZL that do not appear in SPY (8.1%).
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 MNZL | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple Inc | 16.67% | 7.53% | 9.14% |
| AVGOBroadcom Inc | 5.40% | 2.48% | 2.92% |
| TSLATesla Inc | 3.56% | 1.56% | 2.00% |
| MUMicron Technology, Inc. | 3.54% | 1.55% | 1.99% |
| LLYEli Lilly & Co | 3.36% | 1.45% | 1.91% |
| AMDAdvanced Micro Devices Inc | 3.08% | 1.40% | 1.68% |
| JNJJohnson & Johnson - Common | 2.06% | 0.92% | 1.14% |
| ABBVAbbvie Inc. | 1.69% | 0.75% | 0.94% |
| PGProcter & Gamble Company | 1.23% | 0.55% | 0.68% |
| MRKMerck & Company Inc | 1.21% | 0.55% | 0.66% |
90.8% of MNZL 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, MNZL or SPY?
MNZL has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option, by $31 a year on a $10,000 investment.
Which performed better, MNZL or SPY?
Over the past year MNZL returned +20.24% vs +11.24% for SPY, so MNZL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MNZL or SPY?
MNZL has been the more volatile fund at 17.1% annualized versus 13.4% for SPY.
Should I hold both MNZL and SPY?
MNZL and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between MNZL and SPY?
90.8% of MNZL's money is in holdings SPY also owns. 40.9% of SPY's is in holdings MNZL also owns. They hold 242 positions in common, counted across the 484 positions we hold weights for in MNZL and 504 in SPY.
Which pays a higher dividend, MNZL or SPY?
MNZL yields 0.03% while SPY yields 1.00%, so SPY currently pays the higher dividend yield.
Is SPY better than MNZL?
SPY has a lower expense ratio. MNZL led over 1Y. SPY is less concentrated, with 38.9% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.