BAFE vs GSPY
Brown Advisory Flexible Equity ETF vs The Gotham Enhanced 500 ETF
Which is better, BAFE or GSPY?
GSPY has been ahead.
GSPY has a lower expense ratio. GSPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. GSPY is less concentrated, with 39.2% of the fund in its ten largest positions against 45.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BAFE | GSPY |
|---|---|---|
| Expense Ratio | 0.54% | 0.50%Best |
| AUM | $1.8B | $723M |
| Dividend Yield | 0.27% | 2.28% |
| Holdings | 90 | 1,004 |
| YTD Return | +9.97% | +15.70%Best |
| 1Y Return | +12.65% | +20.41%Best |
| 3Y Return (annualized) | - | +22.71% |
| 5Y Return (annualized) | - | +13.69% |
| Volatility (annualized) | 13.2% | 12.3%Best |
| Max Drawdown | -18.4%Best | -18.7% |
| $10,000 over 1.9 years | $12,035 | $13,629Best |
| Top 10 Weight | 45.4% | 39.2%Best |
| Fund Family | Brown Advisory | Gotham Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 18, 2024 | Dec 30, 2016 |
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Nov 18, 2024 to Oct 14, 2026 (1.9 years).
BAFE vs GSPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.9 years both funds cover.
BAFE vs GSPY Performance
Brown Advisory Flexible Equity ETF (BAFE) is an ETF from Brown Advisory and The Gotham Enhanced 500 ETF (GSPY) is an ETF from Gotham Funds. Over the past year BAFE returned +12.65% while GSPY returned +20.41%. Year to date, BAFE is up 9.97% versus a gain of 15.70% for GSPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
BAFE has been the more volatile fund, with annualized monthly volatility of 13.2% compared with 12.3% for GSPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.4% for BAFE and -18.7% for GSPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
BAFE charges 0.54% per year while GSPY charges 0.50%. On a $10,000 position that is $54 vs $50 annually, a gap of $4 per year that compounds over a long holding period. On income, BAFE currently yields 0.27% against 2.28% for GSPY.
Holdings Overlap
75.7% of BAFE's money is in holdings GSPY also owns. 40.0% of GSPY's money is in holdings BAFE also owns.
Most of BAFE is already inside GSPY. Owning both mostly buys the same companies twice.
33 positions in common, counted across the 42 positions we hold weights for in BAFE and 501 in GSPY, against full books of 90 and 1,004.
What only one of them owns
Our book lists 446 positions for GSPY that do not appear in our book for BAFE (59.9% of the fund), and 4 for BAFE that do not appear in GSPY (7.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BAFE | Weight in GSPY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.49% | 6.29% | 0.20% |
| NVDANvidia Corp | 3.84% | 6.68% | 2.84% |
| AMZNAmazon.Com Inc | 4.42% | 4.57% | 0.15% |
| AAPLApple, Inc | 1.90% | 6.97% | 5.07% |
| GOOGLAlphabet Inc | 3.72% | 4.74% | 1.02% |
| METAMeta Platforms Inc | 4.60% | 2.85% | 1.75% |
| VVisa Inc Class A | 4.22% | 1.07% | 3.15% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 3.11% | 1.57% | 1.54% |
| MAMastercard Inc | 3.73% | 0.72% | 3.01% |
| UNHUnitedhealth Group, Inc. | 2.82% | 1.22% | 1.60% |
75.7% of BAFE is already inside GSPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BAFE or GSPY?
BAFE has an expense ratio of 0.54% while GSPY charges 0.50%. GSPY is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, BAFE or GSPY?
Over the past year BAFE returned +12.65% vs +20.41% for GSPY, so GSPY leads on 1-year performance. Over the longest common window we track (2 years), BAFE annualized +10.24% vs +17.70% for GSPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BAFE or GSPY?
BAFE has been the more volatile fund at 13.2% annualized versus 12.3% for GSPY. Worst drawdown: BAFE -18.4% vs GSPY -18.7%.
Should I hold both BAFE and GSPY?
BAFE and GSPY have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between BAFE and GSPY?
75.7% of BAFE's money is in holdings GSPY also owns. 40.0% of GSPY's is in holdings BAFE also owns. They hold 33 positions in common, counted across the 42 positions we hold weights for in BAFE and 501 in GSPY.
Which pays a higher dividend, BAFE or GSPY?
BAFE yields 0.27% while GSPY yields 2.28%, so GSPY currently pays the higher dividend yield.
Is GSPY better than BAFE?
GSPY has a lower expense ratio. GSPY led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.90. GSPY is less concentrated, with 39.2% of the fund in its ten largest positions against 45.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.