Are AIRR and SPY in the same category?

AIRR is a thematic ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, AIRR or SPY?

In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and SPY +13.6%.

Which is cheaper, AIRR or SPY?

SPY is cheaper, by 0.60 percentage points a year. That is about $60 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do AIRR and SPY overlap with the S&P 500?

By their latest filed holdings, 15% of AIRR and 100% of SPY by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

AIRR vs SPY: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AIRR returned −0.2% to SPY's +13.6%, and SPY charges 0.09% to AIRR's 0.69%.

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Net assets on Oct 27, 2026: $8.4bn for First Trust RBA American Industrial Renaissance ETF and $814.8bn for SPDR S&P 500 ETF Trust.

AIRR on its own →SPY on its own →

At a glance

−0.2%

AIRR total return, 1 year

+13.6%

SPY total return, 1 year

0.69%

AIRR expense ratio

0.09%

SPY expense ratio

Pair scorecard

SPY costs 0.60 points a year less; their one-year returns differ by 13.8 points; SPY is far larger, $814.8bn against $8.4bn.

AIRR vs SPY: Differences, Returns & Fees
Measure	AIRR	SPY
Return
Measure	AIRR	SPY
Total return, 1 year	−0.2%	+13.6%
Drawdown
Measure	AIRR	SPY
Below its all-time high	25.5%, high on Jun 22, 2026
Against its benchmark
Measure	AIRR	SPY
What it tracks	Reshoring and manufacturing	S&P 500 Index
Against the S&P 500, 1 year	behind by 13.9 pts
Against its benchmark, 1 year	behind by 13.9 pts
Cost and size
Measure	AIRR	SPY
Expense ratio	0.69%	0.09%
Net assets, as of Oct 27, 2026	$8.4bn	$814.8bn
Holdings
Measure	AIRR	SPY
Holdings in common	0%
Top ten holdings, share of the fund	33%	38.1%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, AIRR and SPY hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first AIRR SPY

C.H. Robinson Worldwide, Inc. 3.83% 0.03%

Huntington Ingalls Industries, Inc. 3.13% 0.02%

Only in one fund ↓

Only in AIRR

Karman Holdings Inc. 3.51%

Kratos Defense & Security Solutions, Inc. 3.47%

BWX Technologies, Inc. 3.33%

Herc Holdings, Inc. 3.30%

Owens Corning 3.20%

RBC Bearings Incorporated 3.19%

Dycom Industries, Inc. 3.13%

Nextpower Inc. (Class A) 3.12%

Only in SPY

NVIDIA CORP 7.92%

APPLE INC 7.61%

MICROSOFT CORP 5.93%

AMAZON.COM INC 3.73%

ALPHABET INC CL A 2.83%

BROADCOM INC 2.45%

ALPHABET INC CL C 2.26%

META PLATFORMS INC CLASS A 2.06%

Check overlap with more funds →

Side by side

AIRR First Trust RBA American Industrial Renaissance ETF SPY SPDR S&P 500 ETF Trust

Where it sits Thematic ETF Stock ETF

Issuer First Trust State Street

What it is Reshoring and manufacturing Tracks the S&P 500

Total return, 1 year −0.2% +13.6%

Its benchmark over the same days +13.7% (VOO) +13.7% (VOO)

Gap to its benchmark −13.9 pts vs VOO −0.1 pts vs VOO

Expense ratio 0.69% 0.09%

Already in the S&P 500 14.7% 99.8%

Holdings 55 504

Net assets, as of Oct 27, 2026 $8.4bn $814.8bn

AIRR and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.

The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

SPY

SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.

Questions people ask

Are AIRR and SPY in the same category?: AIRR is a thematic ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, AIRR or SPY?: In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and SPY +13.6%.
Which is cheaper, AIRR or SPY?: SPY is cheaper, by 0.60 percentage points a year. That is about $60 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do AIRR and SPY overlap with the S&P 500?: By their latest filed holdings, 15% of AIRR and 100% of SPY by weight is stocks the S&P 500 already holds.

Other comparisons

AIRR vs IVV AIRR vs VTI AIRR vs VOO AIRR vs VIG SPY vs XBI IBB vs SPY GDX vs SPY REMX vs SPY

Where to next

AIRR on its own →SPY on its own →Hold both: look the portfolio through →Rankings →AIRR dividend history →AIRR holdings →SPY dividend history →SPY holdings →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

SPY filings on SEC EDGAR ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

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ETFIQ, AIRR against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/airr-vs-spy

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.