GTOC vs SPY
Invesco Core Fixed Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GTOC or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and 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 | GTOC | SPY |
|---|---|---|
| Expense Ratio | 0.26% | 0.09%Best |
| AUM | $351M | $823.2B |
| Dividend Yield | 4.25% | 0.99% |
| Holdings | 891 | 1,515 |
| YTD Return | -5.25% | +13.53%Best |
| 1Y Return | -5.65% | +17.47%Best |
| 3Y Return (annualized) | - | +22.36% |
| 5Y Return (annualized) | - | +13.21% |
| Volatility (annualized) | 4.4%Best | 11.9% |
| Max Drawdown | -7.1%Best | -8.9% |
| $10,000 over 1.2 years | $9,764 | $12,244Best |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | - | Large Cap Blend |
| Inception | Jul 23, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 23, 2025 to Oct 14, 2026 (1.2 years).
GTOC 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 1.2 years both funds cover.
GTOC vs SPY Performance
Invesco Core Fixed Income ETF (GTOC) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GTOC returned -5.65% while SPY returned +17.47%. Year to date, GTOC is down 5.25% versus a gain of 13.53% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 4.4% for GTOC. 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 -7.1% for GTOC and -8.9% 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 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GTOC charges 0.26% per year while SPY charges 0.09%. On a $10,000 position that is $26 vs $9 annually, a gap of $17 per year that compounds over a long holding period. On income, GTOC currently yields 4.25% against 0.99% for SPY.
Holdings Overlap
At least 2.2% of SPY's money is in holdings GTOC also owns.
Stated as a floor: for GTOC, our book for it covers 23.3% 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 GTOC share little of their money.
12 positions in common, counted across the 214 positions we hold weights for in GTOC and 504 in SPY, against full books of 891 and 1,515.
Top Shared Holdings
| Stock | Weight in GTOC | Weight in SPY | Difference |
|---|---|---|---|
| GSGoldman Sachs Group Inc 6.5 Perpetl 2/10/2175 | 0.13% | 0.44% | 0.31% |
| CATCaterpillar, Inc. | 0.01% | 0.55% | 0.54% |
| NOWServicenow, Inc. | 0.20% | 0.22% | 0.02% |
| CCitigroup Inc Variable Rate | 0.06% | 0.35% | 0.29% |
| SCHWSchwab Strategic T | 0.03% | 0.27% | 0.24% |
| HUBBHubbell Inc | 0.19% | 0.04% | 0.15% |
| DDominion Energy Inc. | 0.03% | 0.09% | 0.06% |
| DTEDte Energy Co. | 0.04% | 0.04% | 0.00% |
| VLTOVeralto Corp | 0.02% | 0.04% | 0.02% |
| PFGPrincipalfinancialgroupinc. | 0.01% | 0.04% | 0.03% |
You are not choosing between two funds in isolation.
Whichever of GTOC 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, GTOC or SPY?
GTOC has an expense ratio of 0.26% while SPY charges 0.09%. SPY is the cheaper option, by $17 a year on a $10,000 investment.
Which performed better, GTOC or SPY?
Over the past year GTOC returned -5.65% vs +17.47% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), GTOC annualized -1.97% vs +18.38% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GTOC or SPY?
SPY has been the more volatile fund at 11.9% annualized versus 4.4% for GTOC. Worst drawdown: GTOC -7.1% vs SPY -8.9%.
Should I hold both GTOC and SPY?
GTOC and SPY have a monthly-return correlation of 0.33, 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 GTOC and SPY?
At least 2.2% of SPY's money is in holdings GTOC also owns. Our book for GTOC is partial, so the real figure is this or higher. They hold 12 positions in common, counted across the 214 positions we hold weights for in GTOC and 504 in SPY.
Which pays a higher dividend, GTOC or SPY?
GTOC yields 4.25% while SPY yields 0.99%, so GTOC currently pays the higher dividend yield.
Is SPY better than GTOC?
SPY has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.