GBHI vs SPY
Gabelli High Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GBHI or SPY?
High Yield Bond against Large Cap Blend.
GBHI has a lower expense ratio. SPY led over 1Y.
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 | GBHI | SPY |
|---|---|---|
| Expense Ratio | 0.01%Best | 0.09% |
| AUM | $6M | $777.9B |
| Dividend Yield | 4.80% | 1.00% |
| Holdings | 195 | 1,011 |
| YTD Return | +2.61% | +12.09%Best |
| 1Y Return | +4.11% | +12.45%Best |
| 3Y Return (annualized) | - | +21.45% |
| 5Y Return (annualized) | - | +11.87% |
| Volatility (annualized) | 4.4%Best | 13.3% |
| Fund Family | Gabelli Funds | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | High Yield Bond | Large Cap Blend |
| Inception | Nov 17, 2025 | Jan 22, 1993 |
Not shown on this pair: Max Drawdown, $10,000 over the window, Top 10 Weight.
GBHI 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
GBHI vs SPY Performance
Gabelli High Income ETF (GBHI) 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 GBHI returned +4.11% while SPY returned +12.45%. Year to date, GBHI is up 2.61% versus a gain of 12.09% 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 13.3% compared with 4.4% for GBHI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GBHI charges 0.01% per year while SPY charges 0.09%. On a $10,000 position that is $1 vs $9 annually, a gap of $8 per year that compounds over a long holding period. On income, GBHI currently yields 4.80% against 1.00% for SPY.
Holdings Overlap
At least 0.2% of SPY's money is in holdings GBHI also owns.
Stated as a floor: for GBHI, our book for it covers 48.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
3 positions in common, counted across the 53 positions we hold weights for in GBHI and 504 in SPY, against full books of 195 and 1,011.
You are not choosing between two funds in isolation.
Whichever of GBHI 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, GBHI or SPY?
GBHI has an expense ratio of 0.01% while SPY charges 0.09%. GBHI is the cheaper option, by $8 a year on a $10,000 investment.
Which performed better, GBHI or SPY?
Over the past year GBHI returned +4.11% vs +12.45% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GBHI or SPY?
SPY has been the more volatile fund at 13.3% annualized versus 4.4% for GBHI.
Should I hold both GBHI and SPY?
GBHI and SPY have a monthly-return correlation of 0.40, 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, GBHI or SPY?
GBHI yields 4.80% while SPY yields 1.00%, so GBHI currently pays the higher dividend yield.
Is SPY better than GBHI?
GBHI has a lower expense ratio. SPY led over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.