NIXT vs SPY
Research Affiliates Deletions ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, NIXT or SPY?
Small Cap Value against Large Cap Blend.
SPY has a lower expense ratio. NIXT led over 1Y, SPY over the full window. NIXT is less concentrated, with 8.9% of the fund in its ten largest positions against 37.8%.
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 | NIXT | SPY |
|---|---|---|
| Expense Ratio | 0.19% | 0.09%Best |
| AUM | $43M | $804.7B |
| Dividend Yield | 0.89% | 0.98% |
| Holdings | 212 | 505 |
| YTD Return | +24.56%Best | +12.09% |
| 1Y Return | +24.89%Best | +16.29% |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 16.5% | 12.7%Best |
| Max Drawdown | -27.5% | -18.8%Best |
| $10,000 over 2 years | $13,929 | $14,156Best |
| Top 10 Weight | 8.9%Best | 37.8% |
| Fund Family | RAFI Indices | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Value | Large Cap Blend |
| Inception | Sep 9, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Sep 10, 2024 to Sep 18, 2026 (2 years).
NIXT 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 covers the 2 years both funds cover.
NIXT vs SPY Performance
Research Affiliates Deletions ETF (NIXT) is an ETF from RAFI Indices and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year NIXT returned +24.89% while SPY returned +16.29%. Year to date, NIXT is up 24.56% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NIXT has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 12.7% 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 -27.5% for NIXT and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NIXT charges 0.19% per year while SPY charges 0.09%. On a $10,000 position that is $19 vs $9 annually, a gap of $10 per year that compounds over a long holding period. On income, NIXT currently yields 0.89% against 0.98% for SPY.
Holdings Overlap
18.6% of NIXT's money is in holdings SPY also owns. 0.7% of SPY's money is in holdings NIXT also owns.
NIXT and SPY share little of their money.
36 positions in common, counted across the 208 positions we hold weights for in NIXT and 504 in SPY, against full books of 212 and 505.
What only one of them owns
Our book lists 461 positions for SPY that do not appear in our book for NIXT (98.6% of the fund), and 169 for NIXT that do not appear in SPY (80.4%).
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 NIXT | Weight in SPY | Difference |
|---|---|---|---|
| MRNAModerna therapeutics | 1.45% | 0.08% | 1.37% |
| CRLCharles River Laboratories International Inc | 0.75% | 0.02% | 0.73% |
| ZBRAZebra Technologies Corp | 0.67% | 0.02% | 0.65% |
| RVTYRevvity Inc | 0.65% | 0.02% | 0.63% |
| BAXBaxter International Inc. | 0.63% | 0.02% | 0.61% |
| BBYBest Buy Co. Inc. | 0.62% | 0.02% | 0.60% |
| FDSFactset Research Systems Inc. | 0.58% | 0.02% | 0.56% |
| SJMJ M Smucker Co/The | 0.58% | 0.02% | 0.56% |
| ITGartner Inc. | 0.56% | 0.02% | 0.54% |
| AREAlexandria Real Estate Equities Inc. | 0.56% | 0.01% | 0.55% |
You are not choosing between two funds in isolation.
Whichever of NIXT and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, NIXT or SPY?
NIXT has an expense ratio of 0.19% while SPY charges 0.09%. SPY is the cheaper option, by $10 a year on a $10,000 investment.
Which performed better, NIXT or SPY?
Over the past year NIXT returned +24.89% vs +16.29% for SPY, so NIXT leads on 1-year performance. Over the longest common window we track (2 years), NIXT annualized +18.02% vs +18.98% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, NIXT or SPY?
NIXT has been the more volatile fund at 16.5% annualized versus 12.7% for SPY. Worst drawdown: NIXT -27.5% vs SPY -18.8%.
Should I hold both NIXT and SPY?
NIXT and SPY have a monthly-return correlation of 0.81, 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 NIXT and SPY?
18.6% of NIXT's money is in holdings SPY also owns. 0.7% of SPY's is in holdings NIXT also owns. They hold 36 positions in common, counted across the 208 positions we hold weights for in NIXT and 504 in SPY.
Which pays a higher dividend, NIXT or SPY?
NIXT yields 0.89% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than NIXT?
SPY has a lower expense ratio. NIXT led over 1Y, SPY over the full window. NIXT is less concentrated, with 8.9% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.