SMAP vs SPY
Amplify Small-Mid Cap Equity 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 503 holdings.
Side-by-Side Comparison
| Metric | SMAP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $1M | $789.1B | |
| Dividend Yield | 0.42% | 1.01% | |
| Holdings | 57 | 505 | |
| YTD Return | +6.50% | +14.47% | |
| 1Y Return | +12.14% | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 15.0% | 15.3% | |
| Max Drawdown | -24.2% | -56.5% | |
| Fund Family | Amplify ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 23, 2024 | Jan 22, 1993 |
SMAP vs SPY Performance
Amplify Small-Mid Cap Equity ETF (SMAP) is a ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMAP returned +12.14% while SPY returned +21.96%. Year to date, SMAP is up 6.50% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.0% for SMAP. 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 -24.2% for SMAP 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMAP charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, SMAP currently yields 0.42% against 1.01% for SPY.
Holdings Overlap
SMAP and SPY share 12 holdings out of 547 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SMAP or SPY?
SMAP has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, SMAP or SPY?
Over the past year SMAP returned +12.14% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SMAP annualized +5.13% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, SMAP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.0% for SMAP. Worst drawdown: SMAP -24.2% vs SPY -56.5%.
Should I hold both SMAP and SPY?
SMAP and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMAP and SPY?
SMAP and SPY share 12 common holdings with a 0.6% weight overlap. Combined, they hold 547 unique securities.
Which pays a higher dividend, SMAP or SPY?
SMAP yields 0.42% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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