Data as of Oct 28, 2026.
DYNF vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, DYNF returned +14.5% to SPY's +13.6%; 67% of their weight is in the same names.
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Net assets on Oct 27, 2026: $42.7bn for iShares U.S. Equity Factor Rotation Active ETF and $814.8bn for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.17 points a year less; their one-year returns differ by 0.9 points; SPY is 19.1 times larger.
| Measure | DYNF | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.5% | +13.6% |
| Benchmark | ||
| What it tracks | No index, actively managed | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.26% | 0.09% |
| Net assets, as of Oct 27, 2026 | $42.7bn | $814.8bn |
| Holdings | ||
| Holdings in common | 67% | |
| Top ten holdings, share of the fund | 40.7% | 38.1% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Mar 29, 2019 to Oct 23, 2026 · 395 weekly returnsEach against its own benchmark: DYNF against PBUS, Mar 29, 2019 to Oct 23, 2026; SPY against VOO, Sep 17, 2010 to Oct 23, 2026.
DYNF and SPY returned about the same: +202.7% and +200.3%. SPY swung slightly less: 18.2% to 19.3%. SPY fell slightly less at its worst: −31.8% to −32.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | DYNF | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +202.7% | +200.3% | Tie | Price change plus distributions, reinvested. |
| Annualized | +15.7% | +15.6% | Tie | Total return as a yearly rate. |
| Price return | +170.1% | +169.0% | Tie | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 19.3% | 18.2% | SPY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.4% | 12.5% | SPY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −32.7% | −31.8% | SPY (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 104.8% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 102.2% | 100.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.03 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.96 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.71 | 0.73 | SPY (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 1.02 | 1.07 | SPY (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.132 | 0.133 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.48 | 0.49 | SPY (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | PBUS | VOO | The ETF each fund is measured against. | |
| Alpha | −0.1% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.05 | −0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −2.9% to +2.7% | −0.3% to +0.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.09 | −0.15 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 3.9% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 395 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, DYNF and SPY hold 67% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
67% in common
Only in one fund ↓
Side by side
DYNF and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
DYNF and SPY are built for the same job. How do they differ in cost, holdings and results?
- What each follows. DYNF follows No index, actively managed and SPY follows S&P 500 Index.
- Cost. DYNF charges 0.26% of assets a year and SPY 0.09%, a gap of 0.17 points.
- Size. DYNF has $42.7bn in net assets and SPY $814.8bn (net assets, as of Oct 27, 2026); SPY is 19.1 times larger.
Data as of Oct 28, 2026.
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DYNF
DYNF is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +14.5% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.26% a year. By its holdings published by its issuer for Oct 27, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 262 positions, with the top ten at 40.7%.
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
- Which returned more over the last year, DYNF or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, DYNF returned +14.5% and SPY +13.6%.
- Which is cheaper, DYNF or SPY?
- SPY is cheaper, by 0.17 percentage points a year. That is about $17 on $10,000 held for a year. Fees come from each fund's prospectus.
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, DYNF against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/dynf-vs-spy
ETFIQ. (Oct 28, 2026). DYNF against SPY. Retrieved from https://etfiq.com/compare/any/dynf-vs-spy
[DYNF against SPY (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/dynf-vs-spy)
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