KEAT vs SPY
Keating Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, KEAT or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 68.9%.
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 | KEAT | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $119M | $823.2B |
| Dividend Yield | 2.82% | 0.99% |
| Holdings | 60 | 1,515 |
| YTD Return | +9.17% | +13.53%Best |
| 1Y Return | +14.84% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 12.4% | 11.9%Best |
| Max Drawdown | -10.6%Best | -18.8% |
| $10,000 over 2.5 years | $13,721 | $15,023Best |
| Top 10 Weight | 68.9% | 38.2%Best |
| Fund Family | Keating Investment Counselors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 27, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Mar 27, 2024 to Oct 14, 2026 (2.5 years).
KEAT 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 2.5 years both funds cover.
KEAT vs SPY Performance
Keating Active ETF (KEAT) is an ETF from Keating Investment Counselors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year KEAT returned +14.84% while SPY returned +17.47%. Year to date, KEAT is up 9.17% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KEAT has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 11.9% 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 -10.6% for KEAT 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 0.17. They move largely independently of each other.
Fees and Cost Over Time
KEAT charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, KEAT currently yields 2.82% against 0.99% for SPY.
Holdings Overlap
10.7% of KEAT's money is in holdings SPY also owns. 1.1% of SPY's money is in holdings KEAT also owns.
KEAT and SPY share little of their money.
6 positions in common, counted across the 29 positions we hold weights for in KEAT and 504 in SPY, against full books of 60 and 1,515.
What only one of them owns
Our book lists 490 positions for SPY that do not appear in our book for KEAT (98.0% of the fund), and 10 for KEAT that do not appear in SPY (55.1%).
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
You are not choosing between two funds in isolation.
Whichever of KEAT 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, KEAT or SPY?
KEAT has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, KEAT or SPY?
Over the past year KEAT returned +14.84% vs +17.47% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, KEAT or SPY?
KEAT has been the more volatile fund at 12.4% annualized versus 11.9% for SPY. Worst drawdown: KEAT -10.6% vs SPY -18.8%.
Should I hold both KEAT and SPY?
KEAT and SPY have a monthly-return correlation of 0.17, 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 KEAT and SPY?
10.7% of KEAT's money is in holdings SPY also owns. 1.1% of SPY's is in holdings KEAT also owns. They hold 6 positions in common, counted across the 29 positions we hold weights for in KEAT and 504 in SPY.
Which pays a higher dividend, KEAT or SPY?
KEAT yields 2.82% while SPY yields 0.99%, so KEAT currently pays the higher dividend yield.
Is SPY better than KEAT?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 68.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.