GGT vs SPY
Gabelli MultiMedia Trust 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 | GGT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.70% | 0.09% | |
| AUM | $259M | $821.1B | |
| Dividend Yield | 24.06% | 1.01% | |
| Holdings | 226 | 505 | |
| YTD Return | +11.03% | +12.68% | |
| 1Y Return | +18.69% | +21.82% | |
| 3Y Return (annualized) | +7.03% | +21.98% | |
| 5Y Return (annualized) | -0.89% | +12.89% | |
| Volatility (annualized) | 26.1% | 15.3% | |
| Max Drawdown | -82.7% | -56.5% | |
| Fund Family | Gabelli Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 15, 1994 | Jan 22, 1993 |
GGT vs SPY Performance
Gabelli MultiMedia Trust (GGT) is a ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GGT returned +18.69% while SPY returned +21.82%. Year to date, GGT is up 11.03% versus a gain of 12.68% for SPY.
Over three years, GGT compounded at +7.03% per year against +21.98% for SPY; over five years the annualized figures are -0.89% and +12.89% respectively. Across the full 24-year window we track, SPY has the edge at +8.81% annualized vs +0.18%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GGT has been the more volatile fund, with annualized monthly volatility of 26.1% 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 -82.7% for GGT 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GGT charges 1.70% per year while SPY charges 0.09%. On a $10,000 position that is $170 vs $9 annually, a gap of $161 per year that compounds over a long holding period. On income, GGT currently yields 24.06% against 1.01% for SPY.
Holdings Overlap
GGT and SPY share 35 holdings out of 679 unique holdings combined, representing a 13.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GGT or SPY?
GGT has an expense ratio of 1.70% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $161 per year of difference.
Which performed better, GGT or SPY?
Over the past year GGT returned +18.69% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (24 years), GGT annualized +0.18% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GGT or SPY?
GGT has been the more volatile fund at 26.1% annualized versus 15.3% for SPY. Worst drawdown: GGT -82.7% vs SPY -56.5%.
Should I hold both GGT and SPY?
GGT and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GGT and SPY?
GGT and SPY share 35 common holdings with a 13.8% weight overlap. Combined, they hold 679 unique securities.
Which pays a higher dividend, GGT or SPY?
GGT yields 24.06% while SPY yields 1.01%, so GGT currently pays the higher dividend yield.
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