Fund · measured from SEC filings
SPY holdings
SPY does not file Form N-PORT, so its holdings cannot be measured the way the rest of this site measures funds. Saying so is more useful than leaving it out.
Not measurable from filings
SPY is structured as a unit investment trust or commodity trust rather than a registered investment company, so it does not file Form N-PORT and its holdings cannot be measured the way the rest of the concentration table is. Saying so is more useful than quietly leaving it out.
Compared with, in the essays
2Measures applied in the essays
8Essays that examine SPY
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How ETFs Barely Pay Capital-Gains Tax: In-Kind Redemption and 'Heartbeat' Trades Explained
ETFs rarely distribute capital gains because they hand appreciated securities to authorized participants "in kind" rather than selling them for cash — a...
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Momentum Crashes, Explained: Why the Most Crowded Trades Unwind Fastest
Momentum earns a long-run premium but carries deep negative skew: the strategy's worst days cluster together and arrive precisely when a crowded trade...
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SPY vs VOO vs IVV: The Three S&P 500 ETFs — Fees, Structure, and Tracking Difference
All three track the same S&P 500 index; over five years their total returns and drawdowns sit within a rounding error of one another. The real separation is...
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Why I Track Drawdown Recovery Time, Not Just Max Drawdown
Maximum drawdown tells you how deep the hole was; recovery time tells you how long you spent in it. They are not interchangeable. Recovery math is convex: a...
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Why Variance Drag Quietly Destroys Leveraged ETF Returns
A daily-rebalanced 2x ETF surrenders roughly one annualized variance to compounding each year — about 2.9 percentage points at S&P 500 volatility levels —...
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12 Months of Live AI-Quant ETFs vs the S&P 500 — Honest Data Review
Across the full live track record (5Y through May 2026), none of the five AI-quant or rules-based factor ETFs in this review beat SPY's 13.8% CAGR. The...
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Why Sequence-of-Returns Risk Is the Hidden Killer Before Retirement
Sequence-of-returns risk is not about the average return over 30 years — it is about which years the bad ones land in relative to when withdrawals begin....
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Why Tracking Error Matters More Than Expense Ratio in 2026
VOO and IVV both charge 0.03%. The fee debate ends in a tie, which means the right framework question is no longer "which is cheaper?" but "which one tracks...
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AIEQ Review: 7 Years of Live AI-Managed ETF — What Actually Worked
After more than eight years of live trading, AIEQ has trailed SPY by roughly 700 basis points per year on a 5Y annualized basis, while running 5.3 points...
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VTI vs. AIEQ: Total Market Index vs. IBM Watson’s AI Selection Performance
Over the trailing five years, VTI compounded at 11.8% annually while AIEQ — the IBM Watson-powered active equity ETF — compounded at 4.4%, a gap of roughly...
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Best AI-Managed ETFs for 2026: A Deep Dive into AIEQ and AMOM
AIEQ (Amplify AI Powered Equity) and AMOM (QRAFT AI-Enhanced Momentum) both charge 0.75% — roughly 25 times the cost of a broad-market index ETF — for an...
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How Jim Simons Built the Medallion Fund: Lessons for the Modern AI Investor
Medallion's roughly 39% net annualized return over three decades is real, public, and almost entirely a function of capacity — capped near $10B and closed...
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Buying at the 2007 Peak: A 10-Year Simulation of Lump-Sum vs. Lump-Sum-Plus-DCA
Investing a lump sum at the October 2007 S&P 500 peak and then doing nothing is the textbook worst-entry scenario — your money was 56.8% underwater by March...
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The Honest Math of Leveraged ETFs: What Long-Horizon Investors Need to Understand Before Holding 2x or 3x
Over the trailing five years, TQQQ compounded at 27.0% while QQQ compounded at 17.6%. A 3x daily-reset product captured roughly 1.5x of the underlying — not...
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Two Layers, Defined Roles: A Framework for Long-Horizon ETF Allocation
A portfolio is not a list of tickers — it is a set of roles, and every position should answer one specific question about what job it does. A two-layer...
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