RPAR vs SPY
RPAR Risk Parity 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 505 holdings.
Side-by-Side Comparison
| Metric | RPAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.52% | 0.09% | |
| AUM | $580M | $821.1B | |
| Dividend Yield | 2.45% | 1.01% | |
| Holdings | 138 | 505 | |
| YTD Return | +5.56% | +12.22% | |
| 1Y Return | +15.02% | +20.83% | |
| 3Y Return (annualized) | +10.48% | +21.70% | |
| 5Y Return (annualized) | +1.22% | +12.98% | |
| Volatility (annualized) | 13.4% | 15.3% | |
| Max Drawdown | -30.2% | -56.5% | |
| Fund Family | Rpar ETF | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Dec 12, 2019 | Jan 22, 1993 |
RPAR vs SPY Performance
RPAR Risk Parity ETF (RPAR) is a ETF from Rpar ETF and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RPAR returned +15.02% while SPY returned +20.83%. Year to date, RPAR is up 5.56% versus a gain of 12.22% for SPY.
Over three years, RPAR compounded at +10.48% per year against +21.70% for SPY; over five years the annualized figures are +1.22% and +12.98% respectively. Across the full 7-year window we track, SPY has the edge at +8.79% annualized vs +4.09%. 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 13.4% for RPAR. 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 -30.2% for RPAR 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RPAR charges 0.52% per year while SPY charges 0.09%. On a $10,000 position that is $52 vs $9 annually, a gap of $43 per year that compounds over a long holding period. On income, RPAR currently yields 2.45% against 1.01% for SPY.
Holdings Overlap
RPAR and SPY share 19 holdings out of 614 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RPAR or SPY?
RPAR has an expense ratio of 0.52% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $43 per year of difference.
Which performed better, RPAR or SPY?
Over the past year RPAR returned +15.02% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), RPAR annualized +4.09% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, RPAR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.4% for RPAR. Worst drawdown: RPAR -30.2% vs SPY -56.5%.
Should I hold both RPAR and SPY?
RPAR and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RPAR and SPY?
RPAR and SPY share 19 common holdings with a 2.7% weight overlap. Combined, they hold 614 unique securities.
Which pays a higher dividend, RPAR or SPY?
RPAR yields 2.45% while SPY yields 1.01%, so RPAR currently pays the higher dividend yield.
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