AFIX vs SPY
AFIX vs SPY
Allspring Broad Market Core Bond 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 | AFIX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $217M | $789.1B | |
| Dividend Yield | 5.03% | 1.01% | |
| Holdings | 561 | 505 | |
| YTD Return | -0.45% | +9.93% | |
| 1Y Return | +2.94% | +19.50% | |
| 3Y Return (annualized) | - | +19.33% | |
| 5Y Return (annualized) | - | +12.82% | |
| Volatility (annualized) | 3.6% | 15.3% | |
| Max Drawdown | -3.3% | -56.5% | |
| Fund Family | Allspring Global Investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 4, 2024 | Jan 22, 1993 |
AFIX vs SPY Performance
Allspring Broad Market Core Bond ETF (AFIX) is a ETF from Allspring Global Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AFIX returned +2.94% while SPY returned +19.50%. Year to date, AFIX is down 0.45% versus a gain of 9.93% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.6% for AFIX. 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 -3.3% for AFIX 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 0.14. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
AFIX charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, AFIX currently yields 5.03% against 1.01% for SPY.
Holdings Overlap
AFIX and SPY share 1 holdings out of 881 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in AFIX | Weight in SPY | Difference |
|---|---|---|---|
| T | 0.06% | 0.22% | 0.16% |
Frequently Asked Questions
Which is cheaper, AFIX or SPY?
AFIX has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, AFIX or SPY?
Over the past year AFIX returned +2.94% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), AFIX annualized +3.10% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, AFIX or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.6% for AFIX. Worst drawdown: AFIX -3.3% vs SPY -56.5%.
Should I hold both AFIX and SPY?
AFIX and SPY have a monthly-return correlation of 0.14, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AFIX and SPY?
AFIX and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 881 unique securities.
Which pays a higher dividend, AFIX or SPY?
AFIX yields 5.03% while SPY yields 1.01%, so AFIX currently pays the higher dividend yield.
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