CGV vs SPY
Conductor Global Equity Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CGV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.25% | 0.09% | |
| AUM | $135M | $821.1B | |
| Dividend Yield | 4.87% | 1.01% | |
| Holdings | 90 | 505 | |
| YTD Return | +12.03% | +13.17% | |
| 1Y Return | +20.12% | +21.53% | |
| 3Y Return (annualized) | +13.67% | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 13.4% | 15.3% | |
| Max Drawdown | -16.6% | -56.5% | |
| Fund Family | Conductor ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 19, 2016 | Jan 22, 1993 |
CGV vs SPY Performance
Conductor Global Equity Value ETF (CGV) is a ETF from Conductor ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year CGV returned +20.12% while SPY returned +21.53%. Year to date, CGV is up 12.03% versus a gain of 13.17% for SPY.
Over three years, CGV compounded at +13.67% per year against +22.06% for SPY. Across the full 4-year window we track, CGV has the edge at +9.94% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.4% for CGV. 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 -16.6% for CGV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CGV charges 1.25% per year while SPY charges 0.09%. On a $10,000 position that is $125 vs $9 annually, a gap of $116 per year that compounds over a long holding period. On income, CGV currently yields 4.87% against 1.01% for SPY.
Holdings Overlap
CGV and SPY share 5 holdings out of 580 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CGV or SPY?
CGV has an expense ratio of 1.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $116 per year of difference.
Which performed better, CGV or SPY?
Over the past year CGV returned +20.12% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), CGV annualized +9.94% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, CGV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.4% for CGV. Worst drawdown: CGV -16.6% vs SPY -56.5%.
Should I hold both CGV and SPY?
CGV and SPY have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CGV and SPY?
CGV and SPY share 5 common holdings with a 0.3% weight overlap. Combined, they hold 580 unique securities.
Which pays a higher dividend, CGV or SPY?
CGV yields 4.87% while SPY yields 1.01%, so CGV currently pays the higher dividend yield.
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