GBUG vs SPY
Sprott Active Gold & Silver Miners ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GBUG delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GBUG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.90% | 0.09% | |
| AUM | $170M | $821.1B | |
| Dividend Yield | 1.75% | 1.01% | |
| Holdings | 46 | 505 | |
| YTD Return | +23.69% | +12.68% | |
| 1Y Return | +91.03% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 51.4% | 15.3% | |
| Max Drawdown | -37.4% | -56.5% | |
| Fund Family | Sprott ETFS | State Street Investment Management | |
| Category | Commodity | Equity | |
| Inception | Feb 19, 2025 | Jan 22, 1993 |
GBUG vs SPY Performance
Sprott Active Gold & Silver Miners ETF (GBUG) is a ETF from Sprott ETFS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GBUG returned +91.03% while SPY returned +21.82%. Year to date, GBUG is up 23.69% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
GBUG has been the more volatile fund, with annualized monthly volatility of 51.4% compared with 15.3% 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 -37.4% for GBUG 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 0.06. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GBUG charges 0.90% per year while SPY charges 0.09%. On a $10,000 position that is $90 vs $9 annually, a gap of $81 per year that compounds over a long holding period. On income, GBUG currently yields 1.75% against 1.01% for SPY.
Holdings Overlap
GBUG and SPY share 1 holdings out of 548 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in GBUG | Weight in SPY | Difference |
|---|---|---|---|
| NEM | 3.10% | 0.16% | 2.94% |
Frequently Asked Questions
Which is cheaper, GBUG or SPY?
GBUG has an expense ratio of 0.90% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, GBUG or SPY?
Over the past year GBUG returned +91.03% vs +21.82% for SPY, so GBUG leads on 1-year performance. Over the longest common window we track (2 years), GBUG annualized +92.77% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GBUG or SPY?
GBUG has been the more volatile fund at 51.4% annualized versus 15.3% for SPY. Worst drawdown: GBUG -37.4% vs SPY -56.5%.
Should I hold both GBUG and SPY?
GBUG and SPY have a monthly-return correlation of 0.06, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GBUG and SPY?
GBUG and SPY share 1 common holdings with a 0.2% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, GBUG or SPY?
GBUG yields 1.75% while SPY yields 1.01%, so GBUG currently pays the higher dividend yield.
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