RFFC vs SPY
ALPS Active Equity Opportunity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RFFC or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. RFFC led over 1Y, SPY over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.0%.
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 | RFFC | SPY |
|---|---|---|
| Expense Ratio | 0.48% | 0.09%Best |
| AUM | $32M | $804.7B |
| Dividend Yield | 0.61% | 0.98% |
| Holdings | 58 | 505 |
| YTD Return | +14.76%Best | +13.51% |
| 1Y Return | +22.35%Best | +18.19% |
| 3Y Return (annualized) | +23.20% | +23.29%Best |
| 5Y Return (annualized) | +12.53% | +13.21%Best |
| Volatility (annualized) | 16.1% | 15.3%Best |
| Max Drawdown | -36.5% | -34.1%Best |
| $10,000 over 5 years | $18,044 | $18,596Best |
| Top 10 Weight | 41.0% | 37.8%Best |
| Fund Family | ALPS Advisors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 6, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 7, 2016 to Sep 25, 2026 (10.3 years).
RFFC 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 10.3 years both funds cover.
RFFC vs SPY Performance
ALPS Active Equity Opportunity ETF (RFFC) is an ETF from ALPS Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RFFC returned +22.35% while SPY returned +18.19%. Year to date, RFFC is up 14.76% versus a gain of 13.51% for SPY.
Over three years, RFFC compounded at +23.20% per year against +23.29% for SPY; over five years the annualized figures are +12.53% and +13.21% respectively. Across the full 10-year window we track, SPY has the edge at +14.20% annualized vs +12.10%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RFFC has been the more volatile fund, with annualized monthly volatility of 16.1% 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 -36.5% for RFFC and -34.1% 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
RFFC charges 0.48% per year while SPY charges 0.09%. On a $10,000 position that is $48 vs $9 annually, a gap of $39 per year that compounds over a long holding period. On income, RFFC currently yields 0.61% against 0.98% for SPY.
Holdings Overlap
83.6% of RFFC's money is in holdings SPY also owns. 44.7% of SPY's money is in holdings RFFC also owns.
Most of RFFC is already inside SPY. Owning both mostly buys the same companies twice.
49 positions in common, counted across the 58 positions we hold weights for in RFFC and 504 in SPY, against full books of 58 and 505.
What only one of them owns
Our book lists 448 positions for SPY that do not appear in our book for RFFC (54.6% of the fund), and 5 for RFFC that do not appear in SPY (6.5%).
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 RFFC | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 5.35% | 8.01% | 2.66% |
| AAPLApple, Inc | 5.18% | 7.26% | 2.08% |
| MSFTMicrosoft Corp | 5.81% | 5.66% | 0.15% |
| GOOGLAlphabet Inc,class A | 4.67% | 2.99% | 1.68% |
| AMZNAmazon.Com Inc | 3.69% | 3.79% | 0.10% |
| JNJJohnson & Johnson - Common | 3.91% | 0.99% | 2.92% |
| METAMeta Platforms Inc | 2.13% | 1.93% | 0.20% |
| JPMJpmorgan Chase | 2.50% | 1.45% | 1.05% |
| CATCaterpillar, Inc. | 2.44% | 0.55% | 1.89% |
| LRCXLrcx Uw Equity | 2.25% | 0.55% | 1.70% |
83.6% of RFFC is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, RFFC or SPY?
RFFC has an expense ratio of 0.48% while SPY charges 0.09%. SPY is the cheaper option, by $39 a year on a $10,000 investment.
Which performed better, RFFC or SPY?
Over the past year RFFC returned +22.35% vs +18.19% for SPY, so RFFC leads on 1-year performance. Over the longest common window we track (10 years), RFFC annualized +12.10% vs +14.20% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RFFC or SPY?
RFFC has been the more volatile fund at 16.1% annualized versus 15.3% for SPY. Worst drawdown: RFFC -36.5% vs SPY -34.1%.
Should I hold both RFFC and SPY?
RFFC and SPY have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between RFFC and SPY?
83.6% of RFFC's money is in holdings SPY also owns. 44.7% of SPY's is in holdings RFFC also owns. They hold 49 positions in common, counted across the 58 positions we hold weights for in RFFC and 504 in SPY.
Which pays a higher dividend, RFFC or SPY?
RFFC yields 0.61% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RFFC?
SPY has a lower expense ratio. RFFC led over 1Y, SPY over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 41.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.