MFUS vs SPY
MFUS vs SPY
PIMCO RAFI Dynamic Multi-Factor US Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MFUS delivered stronger 1-year returns. MFUS offers more diversification with 844 holdings.
Side-by-Side Comparison
| Metric | MFUS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.09% | |
| AUM | $296M | $789.1B | |
| Dividend Yield | 1.37% | 1.01% | |
| Holdings | 858 | 505 | |
| YTD Return | +15.14% | +9.93% | |
| 1Y Return | +24.56% | +19.50% | |
| 3Y Return (annualized) | +19.24% | +19.33% | |
| 5Y Return (annualized) | +12.89% | +12.82% | |
| Volatility (annualized) | 15.7% | 15.3% | |
| Max Drawdown | -35.2% | -56.5% | |
| Fund Family | PIMCO (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 31, 2017 | Jan 22, 1993 |
MFUS vs SPY Performance
PIMCO RAFI Dynamic Multi-Factor US Equity ETF (MFUS) is a ETF from PIMCO (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MFUS returned +24.56% while SPY returned +19.50%. Year to date, MFUS is up 15.14% versus a gain of 9.93% for SPY.
Over three years, MFUS compounded at +19.24% per year against +19.33% for SPY; over five years the annualized figures are +12.89% and +12.82% respectively. Across the full 9-year window we track, MFUS has the edge at +12.53% annualized vs +8.74%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MFUS has been the more volatile fund, with annualized monthly volatility of 15.7% 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 -35.2% for MFUS 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MFUS charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, MFUS currently yields 1.37% against 1.01% for SPY.
Holdings Overlap
MFUS and SPY share 360 holdings out of 987 unique holdings combined, representing a 44.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MFUS | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 1.27% | 7.09% | 5.82% |
| NVDA | 0.73% | 7.31% | 6.58% |
| AVGO | 2.09% | 2.73% | 0.64% |
| INTC | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| WMT | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings MFUS 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, MFUS or SPY?
MFUS has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, MFUS or SPY?
Over the past year MFUS returned +24.56% vs +19.50% for SPY, so MFUS leads on 1-year performance. Over the longest common window we track (9 years), MFUS annualized +12.53% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, MFUS or SPY?
MFUS has been the more volatile fund at 15.7% annualized versus 15.3% for SPY. Worst drawdown: MFUS -35.2% vs SPY -56.5%.
Should I hold both MFUS and SPY?
MFUS and SPY have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between MFUS and SPY?
MFUS and SPY share 360 common holdings with a 44.6% weight overlap. Combined, they hold 987 unique securities.
Which pays a higher dividend, MFUS or SPY?
MFUS yields 1.37% while SPY yields 1.01%, so MFUS currently pays the higher dividend yield.
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