MAPP vs SPY
MAPP vs SPY
Harbor Multi-Asset Explorer 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 | MAPP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $10M | $789.1B | |
| Dividend Yield | 2.78% | 1.01% | |
| Holdings | 24 | 505 | |
| YTD Return | +6.29% | +13.50% | |
| 1Y Return | +16.06% | +23.56% | |
| 3Y Return (annualized) | +15.09% | +21.17% | |
| 5Y Return (annualized) | - | +13.46% | |
| Volatility (annualized) | 8.5% | 15.3% | |
| Max Drawdown | -12.9% | -56.5% | |
| Fund Family | Harbor Funds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Sep 13, 2023 | Jan 22, 1993 |
MAPP vs SPY Performance
Harbor Multi-Asset Explorer ETF (MAPP) is a ETF from Harbor Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MAPP returned +16.06% while SPY returned +23.56%. Year to date, MAPP is up 6.29% versus a gain of 13.50% for SPY.
Over three years, MAPP compounded at +15.09% per year against +21.17% for SPY. Across the full 3-year window we track, MAPP has the edge at +15.09% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.5% for MAPP. 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 -12.9% for MAPP 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MAPP charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, MAPP currently yields 2.78% against 1.01% for SPY.
Holdings Overlap
MAPP and SPY share 0 holdings out of 526 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, MAPP or SPY?
MAPP has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, MAPP or SPY?
Over the past year MAPP returned +16.06% vs +23.56% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), MAPP annualized +15.09% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MAPP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.5% for MAPP. Worst drawdown: MAPP -12.9% vs SPY -56.5%.
Should I hold both MAPP and SPY?
MAPP and SPY have a monthly-return correlation of 0.89, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MAPP and SPY?
MAPP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 526 unique securities.
Which pays a higher dividend, MAPP or SPY?
MAPP yields 2.78% while SPY yields 1.01%, so MAPP currently pays the higher dividend yield.
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