NVIR vs SPY
Horizon Kinetics Energy Remediation ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. NVIR delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NVIR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $5M | $821.1B | |
| Dividend Yield | 0.76% | 1.01% | |
| Holdings | 41 | 505 | |
| YTD Return | +22.75% | +12.22% | |
| 1Y Return | +35.25% | +20.83% | |
| 3Y Return (annualized) | +15.65% | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 14.7% | 15.3% | |
| Max Drawdown | -22.5% | -56.5% | |
| Fund Family | Horizon Kinetics LLC | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Feb 21, 2023 | Jan 22, 1993 |
NVIR vs SPY Performance
Horizon Kinetics Energy Remediation ETF (NVIR) is a ETF from Horizon Kinetics LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year NVIR returned +35.25% while SPY returned +20.83%. Year to date, NVIR is up 22.75% versus a gain of 12.22% for SPY.
Over three years, NVIR compounded at +15.65% per year against +21.70% for SPY. Across the full 4-year window we track, NVIR has the edge at +16.68% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.7% for NVIR. 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 -22.5% for NVIR 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 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NVIR charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, NVIR currently yields 0.76% against 1.01% for SPY.
Holdings Overlap
NVIR and SPY share 16 holdings out of 527 unique holdings combined, representing a 2.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NVIR or SPY?
NVIR has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, NVIR or SPY?
Over the past year NVIR returned +35.25% vs +20.83% for SPY, so NVIR leads on 1-year performance. Over the longest common window we track (4 years), NVIR annualized +16.68% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, NVIR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.7% for NVIR. Worst drawdown: NVIR -22.5% vs SPY -56.5%.
Should I hold both NVIR and SPY?
NVIR and SPY have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NVIR and SPY?
NVIR and SPY share 16 common holdings with a 2.1% weight overlap. Combined, they hold 527 unique securities.
Which pays a higher dividend, NVIR or SPY?
NVIR yields 0.76% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.