CFA vs. SPY
Compare and contrast key facts about VictoryShares US 500 Volatility Wtd ETF (CFA) and SPDR S&P 500 ETF (SPY).
CFA and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CFA is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory U.S. Large Cap 500 Volatility Weighted Index. It was launched on Jul 2, 2014. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both CFA and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CFA or SPY.
Performance
CFA vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, CFA achieves a 21.22% return, which is significantly lower than SPY's 26.08% return. Over the past 10 years, CFA has underperformed SPY with an annualized return of 11.15%, while SPY has yielded a comparatively higher 13.10% annualized return.
CFA
21.22%
3.33%
13.07%
28.63%
11.89%
11.15%
SPY
26.08%
1.77%
13.59%
32.24%
15.62%
13.10%
Key characteristics
| CFA | SPY | |
|---|---|---|
| Sharpe Ratio | 2.68 | 2.70 |
| Sortino Ratio | 3.76 | 3.60 |
| Omega Ratio | 1.48 | 1.50 |
| Calmar Ratio | 4.18 | 3.90 |
| Martin Ratio | 16.37 | 17.52 |
| Ulcer Index | 1.79% | 1.87% |
| Daily Std Dev | 10.93% | 12.14% |
| Max Drawdown | -37.74% | -55.19% |
| Current Drawdown | -0.13% | -0.85% |
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CFA vs. SPY - Expense Ratio Comparison
CFA has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between CFA and SPY is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
CFA vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US 500 Volatility Wtd ETF (CFA) and 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.
Dividends
CFA vs. SPY - Dividend Comparison
CFA's dividend yield for the trailing twelve months is around 1.25%, more than SPY's 1.18% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CFA VictoryShares US 500 Volatility Wtd ETF | 1.25% | 1.42% | 1.59% | 1.04% | 1.21% | 1.35% | 1.50% | 1.14% | 1.37% | 1.31% | 0.63% | 0.00% |
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
CFA vs. SPY - Drawdown Comparison
The maximum CFA drawdown since its inception was -37.74%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CFA and SPY. For additional features, visit the drawdowns tool.
Volatility
CFA vs. SPY - Volatility Comparison
VictoryShares US 500 Volatility Wtd ETF (CFA) and SPDR S&P 500 ETF (SPY) have volatilities of 3.89% and 3.98%, 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.