CPAI vs SPY
Counterpoint Quantitative Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CPAI or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. CPAI led over 1Y and the full window. CPAI is less concentrated, with 23.4% of the fund in its ten largest positions against 38.2%.
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 | CPAI | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $511M | $823.2B |
| Dividend Yield | 0.69% | 0.99% |
| Holdings | 153 | 1,515 |
| YTD Return | +29.43%Best | +13.53% |
| 1Y Return | +34.90%Best | +17.47% |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 16.6% | 11.6%Best |
| Max Drawdown | -21.5% | -18.8%Best |
| $10,000 over 2.9 years | $21,244Best | $17,641 |
| Top 10 Weight | 23.4%Best | 38.2% |
| Fund Family | Counterpoint Mutual Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Nov 28, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Nov 29, 2023 to Oct 14, 2026 (2.9 years).
CPAI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.9 years both funds cover.
CPAI vs SPY Performance
Counterpoint Quantitative Equity ETF (CPAI) is an ETF from Counterpoint Mutual Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CPAI returned +34.90% while SPY returned +17.47%. Year to date, CPAI is up 29.43% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CPAI has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 11.6% 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 -21.5% for CPAI 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CPAI charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, CPAI currently yields 0.69% against 0.99% for SPY.
Holdings Overlap
46.2% of CPAI's money is in holdings SPY also owns. 4.9% of SPY's money is in holdings CPAI also owns.
The two portfolios partly overlap.
23 positions in common, counted across the 50 positions we hold weights for in CPAI and 504 in SPY, against full books of 153 and 1,515.
What only one of them owns
Our book lists 473 positions for SPY that do not appear in our book for CPAI (94.2% of the fund), and 26 for CPAI that do not appear in SPY (51.4%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CPAI | Weight in SPY | Difference |
|---|---|---|---|
| MUMicron Technology, Inc. | 2.11% | 1.59% | 0.52% |
| INTCIntel Corporation | 2.20% | 0.73% | 1.47% |
| MRVLMarvell Technology Inc | 2.26% | 0.29% | 1.97% |
| ONOn Semiconductor Corp | 2.44% | 0.04% | 2.40% |
| HPEHewlett Packard Enterprise Co | 2.30% | 0.11% | 2.19% |
| SNDKVSandisk Corp. | 1.96% | 0.35% | 1.61% |
| MCKMckesson Corp. | 2.04% | 0.17% | 1.87% |
| DELLDell Technologies Inc | 1.94% | 0.24% | 1.70% |
| TAT&T Inc. | 1.89% | 0.28% | 1.61% |
| MPCMarathon Petroleum Corp | 1.97% | 0.18% | 1.79% |
46.2% of CPAI is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CPAI or SPY?
CPAI has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, CPAI or SPY?
Over the past year CPAI returned +34.90% vs +17.47% for SPY, so CPAI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CPAI or SPY?
CPAI has been the more volatile fund at 16.6% annualized versus 11.6% for SPY. Worst drawdown: CPAI -21.5% vs SPY -18.8%.
Should I hold both CPAI and SPY?
CPAI and SPY have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CPAI and SPY?
46.2% of CPAI's money is in holdings SPY also owns. 4.9% of SPY's is in holdings CPAI also owns. They hold 23 positions in common, counted across the 50 positions we hold weights for in CPAI and 504 in SPY.
Which pays a higher dividend, CPAI or SPY?
CPAI yields 0.69% while SPY yields 0.99%, so SPY currently pays the higher dividend yield.
Is SPY better than CPAI?
SPY has a lower expense ratio. CPAI led over 1Y and the full window. CPAI is less concentrated, with 23.4% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.