AWEG vs SPY
Alger Weatherbie Enduring Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, AWEG or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AWEG | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $5M | $823.2B |
| Dividend Yield | 3.70% | 0.99% |
| Holdings | 25 | 1,515 |
| Volatility (annualized) | 18.1% | 11.8%Best |
| Max Drawdown | -27.0% | -18.8%Best |
| $10,000 over 2.8 years | $12,108 | $18,029Best |
| Fund Family | Alger | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Mar 6, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 294 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. AWEG has data through Dec 24, 2025 and SPY through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Mar 7, 2023 to Dec 24, 2025 (2.8 years).
Risk: Volatility and Drawdowns
AWEG has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 11.8% 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 -27.0% for AWEG and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AWEG charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, AWEG currently yields 3.70% against 0.99% for SPY.
Holdings Overlap
At least 0.1% of SPY's money is in holdings AWEG also owns.
Stated as a floor: for AWEG, our book for it covers 90.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 318 days apart, AWEG as of Oct 31, 2025 and SPY as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2 positions in common, counted across the 23 positions we hold weights for in AWEG and 504 in SPY, against full books of 25 and 1,515.
You are not choosing between two funds in isolation.
Whichever of AWEG and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AWEG or SPY?
AWEG has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which is riskier, AWEG or SPY?
AWEG has been the more volatile fund at 18.1% annualized versus 11.8% for SPY. Worst drawdown: AWEG -27.0% vs SPY -18.8%.
Should I hold both AWEG and SPY?
AWEG and SPY have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, AWEG or SPY?
AWEG yields 3.70% while SPY yields 0.99%, so AWEG currently pays the higher dividend yield.
Is SPY better than AWEG?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.