MSSS vs SPY
Monarch Select Subsector Index ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MSSS delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MSSS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.43% | 0.09% | |
| AUM | $145M | $789.1B | |
| Dividend Yield | 0.28% | 1.01% | |
| Holdings | 12 | 505 | |
| YTD Return | +21.96% | +14.47% | |
| 1Y Return | +23.70% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 15.9% | 15.3% | |
| Max Drawdown | -19.1% | -56.5% | |
| Fund Family | Monarch Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 12, 2024 | Jan 22, 1993 |
MSSS vs SPY Performance
Monarch Select Subsector Index ETF (MSSS) is a ETF from Monarch Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MSSS returned +23.70% while SPY returned +21.96%. Year to date, MSSS is up 21.96% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
MSSS has been the more volatile fund, with annualized monthly volatility of 15.9% 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 -19.1% for MSSS 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MSSS charges 1.43% per year while SPY charges 0.09%. On a $10,000 position that is $143 vs $9 annually, a gap of $134 per year that compounds over a long holding period. On income, MSSS currently yields 0.28% against 1.01% for SPY.
Holdings Overlap
MSSS 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, MSSS or SPY?
MSSS has an expense ratio of 1.43% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $134 per year of difference.
Which performed better, MSSS or SPY?
Over the past year MSSS returned +23.70% vs +21.96% for SPY, so MSSS leads on 1-year performance. Over the longest common window we track (2 years), MSSS annualized +17.32% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, MSSS or SPY?
MSSS has been the more volatile fund at 15.9% annualized versus 15.3% for SPY. Worst drawdown: MSSS -19.1% vs SPY -56.5%.
Should I hold both MSSS and SPY?
MSSS and SPY have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MSSS and SPY?
MSSS and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, MSSS or SPY?
MSSS yields 0.28% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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