SPYvsKHPIETF Comparison
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State Street SPDR S&P 500 ETF Trust (SPY) belongs to the US Large Cap segment. Kensington Hedged Premium Income ETF (KHPI) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: Technology, Finance and Consumer Non-Cyclicals. SPY is less expensive with a Total Expense Ratio (TER) of 0.0945%, versus 0.96% for KHPI. SPY is up 10.09% year-to-date (YTD) with +$16.26B in YTD flows. KHPI performs worse with 5.94% YTD performance, and +$147M in YTD flows. Run a side-by-side ETF comparison of SPY and KHPI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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SPY vs KHPI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPY KHPI | +0.14%+0.39% | +3.86%+2.98% | +10.09%+5.94% | +19.44%+10.91% | +69.34%n/a | +82.61%n/a |
| Flows | SPY KHPI | +$14.61B+$9M | +$30.95B+$49M | +$16.26B+$147M | +$22.55B+$252M | +$69.43B- | +$100.34B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPY KHPI | +13.50%+7.33% | +12.87%+6.97% | +15.06%n/a | +17.00%n/a |
| Max drawdown | SPY KHPI | -4.46%-2.78% | -8.89%-6.36% | -18.74%n/a | -24.50%n/a |
| Max drawdown duration | SPY KHPI | 59d37d | 76d50d | 126dn/a | 708dn/a |
Trading data
SPY | KHPI | |
Last sale 7/31/2026 at 1:30 PM | $747.03 | $25.90 |
| Previous close 07/30/2026 | $741.69 | $26.01 |
| Consolidated volume 07/30/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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KHPI
is actively managed and doesn’t replicate an indexSPY | KHPI | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/31/2026 at 1:30 PM
Live
Closed
SPY | KHPI | |
|---|---|---|
| Last price | $747.03 | $25.90 |
| 1D performance | +0.72% | -0.44% |
| AuM | $795.31 B | $414.46 M |
| E/R | 0.0945% | 0.96% |
Characteristics
SPY | KHPI | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | State Street Investment Management | Kensington Asset Management |
| Benchmark | S&P 500 Index | - |
| N° of holdings | 496 | 496 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | January 22, 1993 | September 3, 2024 |
| ESG | No | No |
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Exposure
Countries
SPY
USA
97.3%
Other
2.7%
KHPI
USA
95.65%
Other
4.35%
Sectors
SPY
Technology
45.7%
Finance
13.13%
Consumer Non-Cycl.
8.76%
Healthcare
8.66%
Industrials
7.93%
Other
15.81%
KHPI
Technology
45.01%
Finance
12.77%
Consumer Non-Cycl.
8.62%
Healthcare
8.52%
Industrials
7.81%
Other
17.26%
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Diversification
SPY
Total weight of top 15 holdings out of 15
43.05%
KHPI
Total weight of top 15 holdings out of 15
42.29%
Top 15 holdings
Data as of June 30, 2026
SPY
NVIDIA Corp.
7.50%
Apple, Inc.
6.57%
Microsoft Corp.
4.29%
Amazon.com, Inc.
3.61%
Alphabet, Inc.
3.24%
Broadcom Inc.
2.77%
Alphabet, Inc.
2.58%
Micron Technology, Inc.
2.01%
Meta Platforms, Inc.
1.91%
Tesla, Inc.
1.83%
Eli Lilly & Co.
1.47%
Advanced Micro Devices, Inc.
1.47%
Berkshire Hathaway, Inc.
1.42%
JPMorgan Chase & Co.
1.36%
Intel Corp.
1.02%
KHPI
NVIDIA Corp.
7.38%
Apple, Inc.
6.47%
Microsoft Corp.
4.22%
Amazon.com, Inc.
3.55%
Alphabet, Inc.
3.19%
Broadcom Inc.
2.72%
Alphabet, Inc.
2.54%
Micron Technology, Inc.
1.98%
Meta Platforms, Inc.
1.88%
Tesla, Inc.
1.80%
Eli Lilly & Co.
1.45%
Advanced Micro Devices, Inc.
1.44%
Berkshire Hathaway, Inc.
1.40%
JPMorgan Chase & Co.
1.23%
Intel Corp.
1.01%
Frequently asked questions about SPY and KHPI
How have the SPY and KHPI ETFs performed in 2026?
As of July 31, 2026, SPY is up 10.09% year-to-date (YTD), while KHPI has returned 5.94%. That puts SPY better performer ahead so far this year.
Which ETF is attracting more investor money: SPY or KHPI?
Year-to-date, the SPY ETF saw +$16.26B in flows, compared to +$147M for KHPI.
Which ETF is more volatile: SPY or KHPI?
Over the past year, SPY had a volatility of 12.87%, while KHPI experienced 6.97%.
Which ETF is bigger: SPY or KHPI?
As of July 31, 2026, SPY holds $795.31 B in assets under management (AUM), while KHPI manages $414.46 M.
What sectors do the SPY and KHPI ETFs invest in?
SPY leans toward sectors like Technology, Finance and Consumer Non-Cyclicals. Meanwhile, KHPI focuses on Technology, Finance and Consumer Non-Cyclicals.
What are the top holdings of the SPY ETF and KHPI ETF?
SPY top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. KHPI holds in its top three: NVIDIA Corp., Apple, Inc. and Microsoft Corp..
Which ETF is more diversified: SPY or KHPI?
SPY holds 501 securities with 43.05% of its assets in the top 15. KHPI has 503 securities and a top 15 weight of 42.29%.
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