ACVF vs. SPY

Last updated Jun 4, 2026

ACVF (American Conservative Values ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - ACVF is a Large Cap Blend Equities fund actively managed by Ridgeline Research LLC, while SPY is a S&P 500 fund tracking the S&P 500 Index. ACVF is actively managed, while SPY is passively managed. Over the past 5 years, ACVF returned 12.39%/yr vs 13.83%/yr for SPY. With a 0.96 correlation, they move nearly in lockstep. ACVF charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

ACVF vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Conservative Values ETF (ACVF) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with ACVF having a 10.58% return and SPY slightly higher at 10.91%.

ACVF

• 1D: -0.53%
• 1M: 6.32%
• YTD: 10.58%
• 6M: 11.23%
• 1Y: 20.30%
• 3Y*: 19.62%
• 5Y*: 12.39%
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ACVF vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ACVF American Conservative Values ETF	10.58%	13.67%	20.56%	23.81%	-15.74%	28.84%	13.79%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	13.79%

Correlation

The correlation between ACVF and SPY is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 30, 2020	0.96

The correlation between ACVF and SPY has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

ACVF vs. SPY - Sectors Allocation Comparison

Sectors	ACVF	SPY
Technology	39.7%	35.9%
Financial Services	11.6%	11.8%
Industrials	11.0%	7.8%
Consumer Cyclical	10.7%	10.3%
Healthcare	8.1%	8.4%
Consumer Defensive	5.9%	4.8%
Communication Services	4.2%	11.3%
Energy	3.5%	3.6%
Utilities	2.2%	2.4%
Real Estate	1.7%	1.9%
Basic Materials	1.6%	1.8%

Return for Risk

ACVF vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ACVF

ACVF Risk / Return Rank: 54
ACVF Sharpe Ratio Rank: 52
ACVF Sortino Ratio Rank: 52
ACVF Omega Ratio Rank: 50
ACVF Calmar Ratio Rank: 53
ACVF Martin Ratio Rank: 60

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ACVF vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Conservative Values ETF (ACVF) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ACVF	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.38	-0.59
Sortino ratio: Return per unit of downside risk	2.53	3.24	-0.71
Omega ratio: Gain probability vs. loss probability	1.32	1.43	-0.11
Calmar ratio: Return relative to maximum drawdown	2.65	3.16	-0.52
Martin ratio: Return relative to average drawdown	10.75	14.72	-3.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACVF vs. SPY - Sharpe Ratio Comparison

The current ACVF Sharpe Ratio is 1.79, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of ACVF and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ACVF	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.38	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.82	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	0.59	+0.44

Drawdowns

ACVF vs. SPY - Drawdown Comparison

The maximum ACVF drawdown since its inception was -24.39%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ACVF and SPY.

Drawdown Indicators

	ACVF	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-24.39%	-55.19%	+30.80%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-8.88%	+1.18%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-18.76%	+1.94%
Max Drawdown (5Y) Largest decline over 5 years	-24.39%	-24.50%	+0.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.53%	-0.70%	+0.17%
Average Drawdown Average peak-to-trough decline	-4.75%	-9.05%	+4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	1.91%	-0.02%

Volatility

ACVF vs. SPY - Volatility Comparison

American Conservative Values ETF (ACVF) has a higher volatility of 3.06% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that ACVF's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACVF	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.84%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	8.90%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.41%	11.83%	-0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.23%	17.05%	-0.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.97%	17.94%	-1.97%

ACVF vs. SPY - Expense Ratio Comparison

ACVF has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

ACVF vs. SPY - Dividend Comparison

ACVF's dividend yield for the trailing twelve months is around 0.53%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACVF American Conservative Values ETF	0.53%	0.59%	0.59%	0.82%	0.93%	0.61%	0.23%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	0.98%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both ACVF and SPY in my portfolio?

With a correlation of 0.94, ACVF and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ACVF or SPY?

ACVF has higher volatility (3.06%) compared to SPY (2.84%). In terms of maximum drawdown, ACVF dropped -24.39% vs SPY's -55.19%.

Which ETF is better, ACVF or SPY?

On 5-year performance, SPY leads with 13.83% vs 12.39% for ACVF. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ACVF or SPY?

Over the 5-year period, SPY has performed better with a 13.83% return vs 12.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ACVF or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for ACVF.

Which ETF pays a higher dividend yield, ACVF or SPY?

SPY has the higher dividend yield at 0.98%, compared with 0.53% for ACVF.

What is the main difference between ACVF and SPY?

ACVF is categorized as Large Cap Blend Equities, while SPY is S&P 500. They also come from different issuers: Ridgeline Research LLC and State Street. Their fees differ too: 0.75% for ACVF and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.