GNT vs SPY
GAMCO Natural Resources Gold & Income Trust vs State Street SPDR S&P 500 ETF Trust
Which is better, GNT or SPY?
Each has led over a different period.
SPY has a lower expense ratio. GNT led over 1Y, 3Y and 5Y, SPY over the full window.
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 | GNT | SPY |
|---|---|---|
| Expense Ratio | 1.18% | 0.09%Best |
| AUM | $176M | $823.2B |
| Dividend Yield | 8.01% | 0.99% |
| Holdings | 281 | 1,515 |
| YTD Return | +18.98%Best | +13.53% |
| 1Y Return | +27.97%Best | +17.47% |
| 3Y Return (annualized) | +28.29%Best | +22.36% |
| 5Y Return (annualized) | +17.64%Best | +13.21% |
| Volatility (annualized) | 22.6% | 14.1%Best |
| Max Drawdown | -88.1% | -34.1%Best |
| $10,000 over 5 years | $22,531Best | $18,596 |
| Fund Family | Gabelli Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 27, 2011 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 27, 2011 to Oct 14, 2026 (15.7 years).
GNT vs SPY 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 15.7 years both funds cover.
GNT vs SPY Performance
GAMCO Natural Resources Gold & Income Trust (GNT) is an ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GNT returned +27.97% while SPY returned +17.47%. Year to date, GNT is up 18.98% versus a gain of 13.53% for SPY.
Over three years, GNT compounded at +28.29% per year against +22.36% for SPY; over five years the annualized figures are +17.64% and +13.21% respectively. Across the full 16-year window we track, SPY has the edge at +12.53% annualized vs -2.91%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GNT has been the more volatile fund, with annualized monthly volatility of 22.6% compared with 14.1% for SPY. 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 -88.1% for GNT and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GNT charges 1.18% per year while SPY charges 0.09%. On a $10,000 position that is $118 vs $9 annually, a gap of $109 per year that compounds over a long holding period. On income, GNT currently yields 8.01% against 0.99% for SPY.
Holdings Overlap
At least 4.2% of SPY's money is in holdings GNT also owns.
Stated as a floor: for GNT, our book for it covers 75.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and GNT share little of their money.
The two holdings books were reported 76 days apart, GNT as of Jun 30, 2026 and SPY as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
27 positions in common, counted across the 85 positions we hold weights for in GNT and 504 in SPY, against full books of 281 and 1,515.
Top Shared Holdings
| Stock | Weight in GNT | Weight in SPY | Difference |
|---|---|---|---|
| XOMExxonmobil Corp. | 2.94% | 1.04% | 1.90% |
| NEMNewmont Corp Common | 3.20% | 0.20% | 3.00% |
| DEDeere & Co Sedol 2261203 | 2.77% | 0.26% | 2.51% |
| CVXChevron Corp | 1.39% | 0.60% | 0.79% |
| CTVACorteva Inc Ctva | 1.85% | 0.08% | 1.77% |
| CFCf Industries Holdings Inc. | 1.34% | 0.03% | 1.31% |
| ZTSZoetis Inc . | 1.29% | 0.05% | 1.24% |
| TSNTyson Foods Inc. Class A | 1.28% | 0.02% | 1.26% |
| ADMArcher-daniels D | 1.24% | 0.06% | 1.18% |
| VLOValero Energy | 1.04% | 0.17% | 0.87% |
You are not choosing between two funds in isolation.
Whichever of GNT and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GNT or SPY?
GNT has an expense ratio of 1.18% while SPY charges 0.09%. SPY is the cheaper option, by $109 a year on a $10,000 investment.
Which performed better, GNT or SPY?
Over the past year GNT returned +27.97% vs +17.47% for SPY, so GNT leads on 1-year performance. Over the longest common window we track (16 years), GNT annualized -2.91% vs +12.53% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GNT or SPY?
GNT has been the more volatile fund at 22.6% annualized versus 14.1% for SPY. Worst drawdown: GNT -88.1% vs SPY -34.1%.
Should I hold both GNT and SPY?
GNT and SPY have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between GNT and SPY?
At least 4.2% of SPY's money is in holdings GNT also owns. Our book for GNT is partial, so the real figure is this or higher. They hold 27 positions in common, counted across the 85 positions we hold weights for in GNT and 504 in SPY.
Which pays a higher dividend, GNT or SPY?
GNT yields 8.01% while SPY yields 0.99%, so GNT currently pays the higher dividend yield.
Is SPY better than GNT?
SPY has a lower expense ratio. GNT led over 1Y, 3Y and 5Y, SPY over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.