NRSH vs SPY
Aztlan North America Nearshoring Stock Selection ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NRSH delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NRSH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.76% | 0.09% | |
| AUM | $34M | $821.1B | |
| Dividend Yield | 0.31% | 1.01% | |
| Holdings | 33 | 505 | |
| YTD Return | +33.24% | +12.22% | |
| 1Y Return | +49.38% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 23.2% | 15.3% | |
| Max Drawdown | -24.0% | -56.5% | |
| Fund Family | Aztlan Equity Management, LLC | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 29, 2023 | Jan 22, 1993 |
NRSH vs SPY Performance
Aztlan North America Nearshoring Stock Selection ETF (NRSH) is a ETF from Aztlan Equity Management, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NRSH returned +49.38% while SPY returned +20.83%. Year to date, NRSH is up 33.24% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
NRSH has been the more volatile fund, with annualized monthly volatility of 23.2% 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 -24.0% for NRSH 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 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
NRSH charges 0.76% per year while SPY charges 0.09%. On a $10,000 position that is $76 vs $9 annually, a gap of $67 per year that compounds over a long holding period. On income, NRSH currently yields 0.31% against 1.01% for SPY.
Holdings Overlap
NRSH and SPY share 16 holdings out of 520 unique holdings combined, representing a 10.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NRSH or SPY?
NRSH has an expense ratio of 0.76% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $67 per year of difference.
Which performed better, NRSH or SPY?
Over the past year NRSH returned +49.38% vs +20.83% for SPY, so NRSH leads on 1-year performance. Over the longest common window we track (3 years), NRSH annualized +18.02% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, NRSH or SPY?
NRSH has been the more volatile fund at 23.2% annualized versus 15.3% for SPY. Worst drawdown: NRSH -24.0% vs SPY -56.5%.
Should I hold both NRSH and SPY?
NRSH and SPY have a monthly-return correlation of 0.75, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NRSH and SPY?
NRSH and SPY share 16 common holdings with a 10.8% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, NRSH or SPY?
NRSH yields 0.31% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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