SCAP vs SPY
Infrastructure Capital Small Cap Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SCAP delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SCAP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.20% | 0.09% | |
| AUM | $20M | $789.1B | |
| Dividend Yield | 7.58% | 1.01% | |
| Holdings | 85 | 505 | |
| YTD Return | +13.36% | +14.47% | |
| 1Y Return | +22.76% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 15.5% | 15.3% | |
| Max Drawdown | -24.1% | -56.5% | |
| Fund Family | Infrastructure Capital Advisors, LLC | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 11, 2023 | Jan 22, 1993 |
SCAP vs SPY Performance
Infrastructure Capital Small Cap Income ETF (SCAP) is a ETF from Infrastructure Capital Advisors, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SCAP returned +22.76% while SPY returned +21.96%. Year to date, SCAP is up 13.36% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SCAP has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -24.1% for SCAP 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
SCAP charges 2.20% per year while SPY charges 0.09%. On a $10,000 position that is $220 vs $9 annually, a gap of $211 per year that compounds over a long holding period. On income, SCAP currently yields 7.58% against 1.01% for SPY.
Holdings Overlap
SCAP and SPY share 5 holdings out of 564 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SCAP or SPY?
SCAP has an expense ratio of 2.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $211 per year of difference.
Which performed better, SCAP or SPY?
Over the past year SCAP returned +22.76% vs +21.96% for SPY, so SCAP leads on 1-year performance. Over the longest common window we track (3 years), SCAP annualized +18.98% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, SCAP or SPY?
SCAP has been the more volatile fund at 15.5% annualized versus 15.3% for SPY. Worst drawdown: SCAP -24.1% vs SPY -56.5%.
Should I hold both SCAP and SPY?
SCAP 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 SCAP and SPY?
SCAP and SPY share 5 common holdings with a 0.3% weight overlap. Combined, they hold 564 unique securities.
Which pays a higher dividend, SCAP or SPY?
SCAP yields 7.58% while SPY yields 1.01%, so SCAP currently pays the higher dividend yield.
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