NDAA vs SPY
Ned Davis Research 360 Dynamic Allocation 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 | NDAA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $4M | $789.1B | |
| Dividend Yield | 2.47% | 1.01% | |
| Holdings | 10 | 505 | |
| YTD Return | +11.36% | +13.75% | |
| 1Y Return | +21.01% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 9.9% | 15.3% | |
| Max Drawdown | -13.5% | -56.5% | |
| Fund Family | Ned Davis Research | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Oct 16, 2024 | Jan 22, 1993 |
NDAA vs SPY Performance
Ned Davis Research 360 Dynamic Allocation ETF (NDAA) is a ETF from Ned Davis Research and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NDAA returned +21.01% while SPY returned +22.91%. Year to date, NDAA is up 11.36% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.9% for NDAA. 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 -13.5% for NDAA 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
NDAA charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, NDAA currently yields 2.47% against 1.01% for SPY.
Holdings Overlap
NDAA and SPY share 0 holdings out of 512 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, NDAA or SPY?
NDAA has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, NDAA or SPY?
Over the past year NDAA returned +21.01% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), NDAA annualized +13.67% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, NDAA or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.9% for NDAA. Worst drawdown: NDAA -13.5% vs SPY -56.5%.
Should I hold both NDAA and SPY?
NDAA and SPY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between NDAA and SPY?
NDAA and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 512 unique securities.
Which pays a higher dividend, NDAA or SPY?
NDAA yields 2.47% while SPY yields 1.01%, so NDAA currently pays the higher dividend yield.
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