CPAG vs SPY
CPAG vs SPY
F/m Compoundr US Aggregate 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 | CPAG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.31% | 0.09% | |
| AUM | $145M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 2 | 505 | |
| YTD Return | -0.38% | +13.79% | |
| 1Y Return | +1.78% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 3.1% | 15.3% | |
| Max Drawdown | -2.8% | -56.5% | |
| Fund Family | F-m investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Aug 12, 2025 | Jan 22, 1993 |
CPAG vs SPY Performance
F/m Compoundr US Aggregate Bond ETF (CPAG) is a ETF from F-m investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CPAG returned +1.78% while SPY returned +23.66%. Year to date, CPAG is down 0.38% 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 3.1% for CPAG. 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 -2.8% for CPAG 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 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CPAG charges 0.31% per year while SPY charges 0.09%. On a $10,000 position that is $31 vs $9 annually, a gap of $22 per year that compounds over a long holding period. On income, CPAG currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
CPAG and SPY share 0 holdings out of 504 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, CPAG or SPY?
CPAG has an expense ratio of 0.31% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, CPAG or SPY?
Over the past year CPAG returned +1.78% vs +23.66% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, CPAG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 3.1% for CPAG. Worst drawdown: CPAG -2.8% vs SPY -56.5%.
Should I hold both CPAG and SPY?
CPAG and SPY have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CPAG and SPY?
CPAG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, CPAG or SPY?
CPAG yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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