GSJY vs SPY
Goldman Sachs ActiveBeta Japan Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GSJY or SPY?
Each has led over a different period.
SPY has a lower expense ratio. GSJY led over 1Y, SPY over 3Y, 5Y and the full window. GSJY is less concentrated, with 28.8% of the fund in its ten largest positions against 38.2%.
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 | GSJY | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $100M | $823.2B |
| Dividend Yield | 1.96% | 0.99% |
| Holdings | 157 | 1,515 |
| YTD Return | +18.52%Best | +13.53% |
| 1Y Return | +25.76%Best | +17.47% |
| 3Y Return (annualized) | +20.35% | +22.36%Best |
| 5Y Return (annualized) | +9.84% | +13.21%Best |
| Volatility (annualized) | 13.1%Best | 15.0% |
| Max Drawdown | -32.6%Best | -34.1% |
| $10,000 over 5 years | $15,988 | $18,596Best |
| Top 10 Weight | 28.8%Best | 38.2% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 2, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 4, 2016 to Oct 14, 2026 (10.6 years).
GSJY 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 10.6 years both funds cover.
GSJY vs SPY Performance
Goldman Sachs ActiveBeta Japan Equity ETF (GSJY) is an ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GSJY returned +25.76% while SPY returned +17.47%. Year to date, GSJY is up 18.52% versus a gain of 13.53% for SPY.
Over three years, GSJY compounded at +20.35% per year against +22.36% for SPY; over five years the annualized figures are +9.84% and +13.21% respectively. Across the full 11-year window we track, SPY has the edge at +14.34% annualized vs +8.18%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 13.1% for GSJY. 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 -32.6% for GSJY 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GSJY charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, GSJY currently yields 1.96% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 160 holdings in GSJY and 504 in SPY, totalling 99.1% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 160 positions we hold weights for in GSJY and 504 in SPY, against full books of 157 and 1,515.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for GSJY (99.1% of the fund), and 1 for GSJY that do not appear in SPY (0.1%).
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.
You are not choosing between two funds in isolation.
Whichever of GSJY 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, GSJY or SPY?
GSJY has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, GSJY or SPY?
Over the past year GSJY returned +25.76% vs +17.47% for SPY, so GSJY leads on 1-year performance. Over the longest common window we track (11 years), GSJY annualized +8.18% vs +14.34% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GSJY or SPY?
SPY has been the more volatile fund at 15.0% annualized versus 13.1% for GSJY. Worst drawdown: GSJY -32.6% vs SPY -34.1%.
Should I hold both GSJY and SPY?
GSJY and SPY have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GSJY or SPY?
GSJY yields 1.96% while SPY yields 0.99%, so GSJY currently pays the higher dividend yield.
Is SPY better than GSJY?
SPY has a lower expense ratio. GSJY led over 1Y, SPY over 3Y, 5Y and the full window. GSJY is less concentrated, with 28.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.