GDMA vs SPY
Gadsden Dynamic Multi-Asset ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GDMA or SPY?
Allocation/Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 74.3%.
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 | GDMA | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $194M | $811.2B |
| Dividend Yield | 2.54% | 0.98% |
| Holdings | 37 | 1,515 |
| YTD Return | +4.56% | +12.70%Best |
| 1Y Return | +4.85% | +15.53%Best |
| 3Y Return (annualized) | +12.71% | +22.86%Best |
| 5Y Return (annualized) | +7.32% | +13.47%Best |
| Volatility (annualized) | 10.0%Best | 16.7% |
| Max Drawdown | -16.7%Best | -34.1% |
| $10,000 over 5 years | $14,237 | $18,811Best |
| Top 10 Weight | 74.3% | 38.2%Best |
| Fund Family | Gadsden Funds | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Nov 14, 2018 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2018 to Oct 1, 2026 (7.9 years).
GDMA 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 7.9 years both funds cover.
GDMA vs SPY Performance
Gadsden Dynamic Multi-Asset ETF (GDMA) is an ETF from Gadsden Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GDMA returned +4.85% while SPY returned +15.53%. Year to date, GDMA is up 4.56% versus a gain of 12.70% for SPY.
Over three years, GDMA compounded at +12.71% per year against +22.86% for SPY; over five years the annualized figures are +7.32% and +13.47% respectively. Across the full 8-year window we track, SPY has the edge at +15.07% annualized vs +8.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 10.0% for GDMA. 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 -16.7% for GDMA 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 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GDMA charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, GDMA currently yields 2.54% against 0.98% for SPY.
Holdings Overlap
2.9% of GDMA's money is in holdings SPY also owns. 3.5% of SPY's money is in holdings GDMA also owns.
SPY and GDMA share little of their money.
6 positions in common, counted across the 37 positions we hold weights for in GDMA and 504 in SPY, against full books of 37 and 1,515.
What only one of them owns
Our book lists 491 positions for SPY that do not appear in our book for GDMA (95.8% of the fund), and 28 for GDMA that do not appear in SPY (94.8%).
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 GDMA 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, GDMA or SPY?
GDMA has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, GDMA or SPY?
Over the past year GDMA returned +4.85% vs +15.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), GDMA annualized +8.30% vs +15.07% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GDMA or SPY?
SPY has been the more volatile fund at 16.7% annualized versus 10.0% for GDMA. Worst drawdown: GDMA -16.7% vs SPY -34.1%.
Should I hold both GDMA and SPY?
GDMA and SPY have a monthly-return correlation of 0.48, 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 GDMA and SPY?
3.5% of SPY's money is in holdings GDMA also owns. 3.5% of SPY's is in holdings GDMA also owns. They hold 6 positions in common, counted across the 37 positions we hold weights for in GDMA and 504 in SPY.
Which pays a higher dividend, GDMA or SPY?
GDMA yields 2.54% while SPY yields 0.98%, so GDMA currently pays the higher dividend yield.
Is SPY better than GDMA?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 74.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.