MADE vs SPY
MADE vs SPY
iShares US Manufacturing ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MADE delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MADE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $63M | $789.1B | |
| Dividend Yield | 0.61% | 1.01% | |
| Holdings | 117 | 505 | |
| YTD Return | +20.72% | +13.28% | |
| 1Y Return | +39.15% | +23.94% | |
| 3Y Return (annualized) | - | +21.07% | |
| 5Y Return (annualized) | - | +13.27% | |
| Volatility (annualized) | 18.9% | 15.3% | |
| Max Drawdown | -23.8% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 17, 2024 | Jan 22, 1993 |
MADE vs SPY Performance
iShares US Manufacturing ETF (MADE) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MADE returned +39.15% while SPY returned +23.94%. Year to date, MADE is up 20.72% versus a gain of 13.28% for SPY.
Risk: Volatility and Drawdowns
MADE has been the more volatile fund, with annualized monthly volatility of 18.9% compared with 15.3% for SPY. 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 -23.8% for MADE 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MADE charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, MADE currently yields 0.61% against 1.01% for SPY.
Holdings Overlap
MADE and SPY share 42 holdings out of 575 unique holdings combined, representing a 5.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MADE | Weight in SPY | Difference |
|---|---|---|---|
| CAT | 4.21% | 0.69% | 3.52% |
| APH | 4.15% | 0.32% | 3.83% |
| DE | 4.21% | 0.25% | 3.96% |
| ETN | Pro | Pro | Pro |
| CMI | Pro | Pro | Pro |
| VRT | Pro | Pro | Pro |
| RTX | Pro | Pro | Pro |
| PH | Pro | Pro | Pro |
| TT | Pro | Pro | Pro |
| GM | Pro | Pro | Pro |
See all 10 holdings MADE shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, MADE or SPY?
MADE has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, MADE or SPY?
Over the past year MADE returned +39.15% vs +23.94% for SPY, so MADE leads on 1-year performance. Over the longest common window we track (2 years), MADE annualized +26.27% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MADE or SPY?
MADE has been the more volatile fund at 18.9% annualized versus 15.3% for SPY. Worst drawdown: MADE -23.8% vs SPY -56.5%.
Should I hold both MADE and SPY?
MADE and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MADE and SPY?
MADE and SPY share 42 common holdings with a 5.2% weight overlap. Combined, they hold 575 unique securities.
Which pays a higher dividend, MADE or SPY?
MADE yields 0.61% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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