ANEFX vs. SPY

Last updated Jun 23, 2026

ANEFX (American Funds The New Economy Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - ANEFX is a Global Equities fund managed by American Funds, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ANEFX returned 17.04%/yr vs 15.70%/yr for SPY. Their correlation of 0.87 suggests significant overlap in exposure. ANEFX charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

ANEFX vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, ANEFX achieves a 23.59% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, ANEFX has outperformed SPY with an annualized return of 17.04%, while SPY has yielded a comparatively lower 15.70% annualized return.

ANEFX

• 1D: 2.27%
• 1M: 6.34%
• YTD: 23.59%
• 6M: 24.43%
• 1Y: 53.39%
• 3Y*: 30.13%
• 5Y*: 14.12%
• 10Y*: 17.04%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

ANEFX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANEFX American Funds The New Economy Fund	23.59%	31.01%	23.58%	29.14%	-29.67%	12.85%	33.47%	26.46%	-4.36%	34.37%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between ANEFX and SPY is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 29, 1993	0.87

The correlation between ANEFX and SPY has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

ANEFX vs. SPY — Risk / Return Rank

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

ANEFX

ANEFX Risk / Return Rank: 87
ANEFX Sharpe Ratio Rank: 92
ANEFX Sortino Ratio Rank: 82
ANEFX Omega Ratio Rank: 81
ANEFX Calmar Ratio Rank: 87
ANEFX Martin Ratio Rank: 91

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

ANEFX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The New Economy Fund (ANEFX) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ANEFX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.16	+0.69
Sortino ratio: Return per unit of downside risk	3.56	2.91	+0.65
Omega ratio: Gain probability vs. loss probability	1.49	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	3.98	3.01	+0.97
Martin ratio: Return relative to average drawdown	17.21	13.54	+3.68

ANEFX vs. SPY - Sharpe Ratio Comparison

The current ANEFX Sharpe Ratio is 2.85, which is higher than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of ANEFX 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.

Drawdowns

ANEFX vs. SPY - Drawdown Comparison

The maximum ANEFX drawdown since its inception was -61.28%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ANEFX and SPY.

Drawdown Indicators

	ANEFX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-61.28%	-55.19%	-6.09%
Max Drawdown (1Y) Largest decline over 1 year	-13.35%	-8.88%	-4.47%
Max Drawdown (3Y) Largest decline over 3 years	-20.82%	-18.76%	-2.06%
Max Drawdown (5Y) Largest decline over 5 years	-36.63%	-24.50%	-12.13%
Max Drawdown (10Y) Largest decline over 10 years	-36.63%	-33.72%	-2.91%
Current Drawdown Current decline from peak	0.00%	-1.75%	+1.75%
Average Drawdown Average peak-to-trough decline	-11.43%	-9.04%	-2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	1.97%	+1.11%

Volatility

ANEFX vs. SPY - Volatility Comparison

American Funds The New Economy Fund (ANEFX) has a higher volatility of 8.38% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that ANEFX'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

	ANEFX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	4.64%	+3.74%
Volatility (6M) Calculated over the trailing 6-month period	15.41%	9.75%	+5.66%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	12.43%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.68%	17.14%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	17.99%	+1.27%

ANEFX vs. SPY - Expense Ratio Comparison

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

Dividends

ANEFX vs. SPY - Dividend Comparison

ANEFX's dividend yield for the trailing twelve months is around 8.03%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANEFX American Funds The New Economy Fund	8.03%	9.93%	9.59%	3.96%	0.00%	8.24%	2.47%	7.34%	10.00%	8.28%	4.61%	6.16%
SPY State Street SPDR S&P 500 ETF	1.01%	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 ANEFX and SPY in my portfolio?

ANEFX and SPY have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANEFX or SPY?

ANEFX has higher volatility (8.38%) compared to SPY (4.64%). In terms of maximum drawdown, ANEFX dropped -61.28% vs SPY's -55.19%.

Which has better risk-adjusted returns?

ANEFX currently has the higher Sharpe Ratio (2.85 vs 2.16), 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.