Data as of Nov 4, 2026.
ASGM vs SPY: Differences, Returns & Fees
Over the year to Nov 4, 2026, ASGM returned +22.8% to SPY's +14.8%, and SPY charges 0.09% to ASGM's 0.86%.
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Net assets: $8.5m on Jul 31, 2026 for Virtus AlphaSimplex Global Macro ETF, and $804.8bn on Nov 3, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.77 points a year less; their one-year returns differ by 8.0 points.
| Measure | ASGM | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +22.8% | +14.8% |
| Total return, 52 weeks | +21.9% | |
| Against its benchmark | ||
| What it tracks | not published | S&P 500 Index |
| Treasury bills, 52 weeks | +3.7% | |
| Against cash | 18.2 points ahead | |
| Cost and size | ||
| Expense ratio | 0.86% | 0.09% |
| Net assets, ASGM as of Jul 31, 2026 and SPY as of Nov 3, 2026 | $8.5m | $804.8bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 37.3% | |
| Risk | ||
| Correlation with the S&P 500’s weekly returns | +0.85 | |
| Beta to the S&P 500 | +1.08: about 1.08% for each 1% | |
| Its average week when the S&P 500 fell | fell 1.25% | |
| Down-week capture | 116.3% | |
| Weeks the S&P 500 fell | 26 of 52, by 1.07% on average | |
Risk and return
Aug 15, 2025 to Oct 30, 2026 · 63 weekly returnsFrom Aug 2025 to Oct 2026, ASGM returned more: +32.2% to +19.0%. SPY swung slightly less: 11.5% to 12.4%. ASGM fell less at its worst: −6.2% to −8.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ASGM | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +32.2% | +19.0% | ASGM | Price change plus distributions, reinvested. |
| Annualized | +25.9% | +15.5% | ASGM | Total return as a yearly rate. |
| Price return | +26.4% | +17.4% | ASGM | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 12.4% | 11.5% | SPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 7.9% | 6.8% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −6.2% | −8.4% | ASGM | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.61 | 0.97 | ASGM | Return above Treasury bills per unit of volatility. |
| Sortino | 2.52 | 1.65 | ASGM | Return above Treasury bills per unit of downside deviation. |
| Calmar | 4.16 | 1.84 | ASGM | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 63 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
ASGM and SPY on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
Client brief:
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ASGM
ASGM is a global macro fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.85 with the S&P 500’s and a beta of +1.08, so for each 1% the index moved it moved about 1.08% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks ASGM fell 1.25% on average, a down-week capture of 116.3%. Over the same 52 weeks ASGM returned +21.9% and a Treasury bill fund +3.7%, so it finished 18.2 percentage points ahead of cash.
SPY
SPY tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% 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 Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 37.3%.
Questions people ask
- Are ASGM and SPY in the same category?
- ASGM is an alternatives 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, ASGM or SPY?
- In the year to Nov 4, 2026, with distributions reinvested, ASGM returned +22.8% and SPY +14.8%.
- Which is cheaper, ASGM or SPY?
- SPY is cheaper, by 0.77 percentage points a year. That is about $77 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, ASGM against SPY, data as of Nov 4, 2026. https://etfiq.com/compare/any/asgm-vs-spy
ETFIQ. (Nov 4, 2026). ASGM against SPY. Retrieved from https://etfiq.com/compare/any/asgm-vs-spy
[ASGM against SPY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/asgm-vs-spy)
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