AOHY vs SPY
AOHY vs SPY
Angel Oak High Yield Opportunities 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 | AOHY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $124M | $789.1B | |
| Dividend Yield | 6.61% | 1.01% | |
| Holdings | 187 | 505 | |
| YTD Return | +2.60% | +13.79% | |
| 1Y Return | +5.24% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 3.0% | 15.3% | |
| Max Drawdown | -4.2% | -56.5% | |
| Fund Family | Angel Oak Capital Advisors | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 20, 2024 | Jan 22, 1993 |
AOHY vs SPY Performance
Angel Oak High Yield Opportunities ETF (AOHY) is a ETF from Angel Oak Capital Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year AOHY returned +5.24% while SPY returned +23.66%. Year to date, AOHY is up 2.60% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 3.0% for AOHY. 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 -4.2% for AOHY 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AOHY charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, AOHY currently yields 6.61% against 1.01% for SPY.
Holdings Overlap
AOHY and SPY share 0 holdings out of 625 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, AOHY or SPY?
AOHY has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, AOHY or SPY?
Over the past year AOHY returned +5.24% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), AOHY annualized +7.27% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, AOHY or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.0% for AOHY. Worst drawdown: AOHY -4.2% vs SPY -56.5%.
Should I hold both AOHY and SPY?
AOHY and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AOHY and SPY?
AOHY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 625 unique securities.
Which pays a higher dividend, AOHY or SPY?
AOHY yields 6.61% while SPY yields 1.01%, so AOHY currently pays the higher dividend yield.
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