SPBX vs SPY
AllianzIM 6 Month Buffer10 Allocation 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 | SPBX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $68M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 7 | 505 | |
| YTD Return | +8.26% | +13.39% | |
| 1Y Return | +13.15% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 6.6% | 15.3% | |
| Max Drawdown | -11.1% | -56.5% | |
| Fund Family | AllianzIM | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jan 7, 2025 | Jan 22, 1993 |
SPBX vs SPY Performance
AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) is a ETF from AllianzIM and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SPBX returned +13.15% while SPY returned +22.52%. Year to date, SPBX is up 8.26% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 6.6% for SPBX. 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 -11.1% for SPBX 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPBX charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, SPBX currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
SPBX and SPY share 0 holdings out of 509 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPBX or SPY?
SPBX has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, SPBX or SPY?
Over the past year SPBX returned +13.15% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), SPBX annualized +11.53% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, SPBX or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 6.6% for SPBX. Worst drawdown: SPBX -11.1% vs SPY -56.5%.
Should I hold both SPBX and SPY?
SPBX and SPY have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPBX and SPY?
SPBX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, SPBX or SPY?
SPBX yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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