AUSF vs. SPY

Last updated Aug 2, 2026

AUSF (Global X Adaptive U.S. Factor ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - AUSF is a Mid Cap Value Equities fund tracking the Adaptive Wealth Strategies U.S. Factor Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, AUSF returned 14.47%/yr vs 12.76%/yr for SPY. Their 0.73 correlation means they have sometimes moved together and sometimes differently. AUSF charges 0.27%/yr vs 0.09%/yr for SPY.

Performance

AUSF vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Adaptive U.S. Factor ETF (AUSF) 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, AUSF achieves a 12.60% return, which is significantly higher than SPY's 10.13% return.

AUSF

• 1D: -0.21%
• 1M: 3.29%
• 6M: 7.58%
• YTD: 12.60%
• 1Y: 20.12%
• 3Y*: 19.13%
• 5Y*: 14.47%
• 10Y*: —
• ALL TIME*: 12.70%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AUSF Global X Adaptive U.S. Factor ETF	$2.36M	$2.26M	$3.95M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

AUSF vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AUSF Global X Adaptive U.S. Factor ETF	12.60%	13.69%	16.05%	22.26%	-0.18%	27.48%	1.27%	24.06%	-11.18%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-12.86%

Correlation

The correlation between AUSF and SPY is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (All Time) Calculated using the full available price history since Aug 28, 2018	0.73

Over the past year, the correlation between AUSF and SPY has dropped to 0.33 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

AUSF vs. SPY - Sectors Allocation Comparison

Sectors	AUSF	SPY
Financial Services	20.1%	12.5%
Technology	15.7%	36.9%
Industrials	13.4%	7.6%
Healthcare	12.3%	9.4%
Consumer Cyclical	8.8%	8.9%
Consumer Defensive	7.9%	4.8%
Communication Services	6.6%	9.7%
Utilities	4.5%	2.6%
Real Estate	4.3%	2.0%
Energy	3.3%	3.4%
Basic Materials	2.5%	1.9%

Return for Risk

AUSF vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AUSF

AUSF Risk / Return Rank: 80
AUSF Sharpe Ratio Rank: 80
AUSF Sortino Ratio Rank: 82
AUSF Omega Ratio Rank: 77
AUSF Calmar Ratio Rank: 85
AUSF Martin Ratio Rank: 76

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AUSF vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Adaptive U.S. Factor ETF (AUSF) 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.

	AUSF	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.52	+0.31
Sortino ratio: Return per unit of downside risk	2.68	2.11	+0.57
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio: Return relative to maximum drawdown	3.27	2.20	+1.07
Martin ratio: Return relative to average drawdown	9.56	9.40	+0.16

AUSF vs. SPY - Sharpe Ratio Comparison

The current AUSF Sharpe Ratio is 1.83, which is comparable to the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of AUSF 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

AUSF vs. SPY - Drawdown Comparison

The maximum AUSF drawdown since its inception was -44.25%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for AUSF and SPY.

Drawdown Indicators

	AUSF	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-44.25%	-55.19%	+10.94%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-8.88%	+3.04%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-18.76%	+6.47%
Max Drawdown (5Y) Largest decline over 5 years	-14.23%	-24.50%	+10.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-1.62%	-1.40%	-0.22%
Average Drawdown Average peak-to-trough decline	-4.16%	-9.01%	+4.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.08%	-0.09%

Volatility

AUSF vs. SPY - Volatility Comparison

Global X Adaptive U.S. Factor ETF (AUSF) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 3.73% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUSF	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	3.58%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	10.14%	-2.68%
Volatility (1Y) Calculated over the trailing 1-year period	10.46%	12.89%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.62%	17.18%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	17.95%	+1.01%

AUSF vs. SPY - Expense Ratio Comparison

AUSF has a 0.27% expense ratio, which is higher than SPY's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AUSF vs. SPY - Dividend Comparison

AUSF's dividend yield for the trailing twelve months is around 2.61%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUSF Global X Adaptive U.S. Factor ETF	2.61%	2.78%	2.63%	1.83%	2.51%	2.22%	2.95%	4.02%	1.46%	0.00%	0.00%	0.00%
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 AUSF and SPY in my portfolio?

AUSF and SPY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUSF or SPY?

AUSF has higher volatility (3.73%) compared to SPY (3.58%). In terms of maximum drawdown, AUSF dropped -44.25% vs SPY's -55.19%.

Which ETF is better, AUSF or SPY?

On 5-year performance, AUSF leads with 14.47% vs 12.76% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUSF or SPY?

Over the 5-year period, AUSF has performed better with a 14.47% return vs 12.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUSF or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.27% for AUSF.

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

AUSF has the higher dividend yield at 2.61%, compared with 1.01% for SPY.

What is the main difference between AUSF and SPY?

AUSF is categorized as Mid Cap Value Equities, while SPY is S&P 500. AUSF tracks Adaptive Wealth Strategies U.S. Factor Index, while SPY tracks S&P 500 Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.27% for AUSF and 0.09% for SPY.

Which has better risk-adjusted returns?

AUSF currently has the higher Sharpe Ratio (1.83 vs 1.52), 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.