GGZ vs SPY
Gabelli Global Small and Mid Cap Value Trust vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GGZ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GGZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.00% | 0.09% | |
| AUM | $169M | $821.1B | |
| Dividend Yield | 4.34% | 1.01% | |
| Holdings | 312 | 505 | |
| YTD Return | +13.36% | +12.68% | |
| 1Y Return | +24.80% | +21.82% | |
| 3Y Return (annualized) | +19.25% | +21.98% | |
| 5Y Return (annualized) | +6.86% | +12.89% | |
| Volatility (annualized) | 21.3% | 15.3% | |
| Max Drawdown | -59.0% | -56.5% | |
| Fund Family | Gabelli Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 23, 2014 | Jan 22, 1993 |
GGZ vs SPY Performance
Gabelli Global Small and Mid Cap Value Trust (GGZ) 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 GGZ returned +24.80% while SPY returned +21.82%. Year to date, GGZ is up 13.36% versus a gain of 12.68% for SPY.
Over three years, GGZ compounded at +19.25% per year against +21.98% for SPY; over five years the annualized figures are +6.86% and +12.89% respectively. Across the full 12-year window we track, SPY has the edge at +8.81% annualized vs +5.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GGZ has been the more volatile fund, with annualized monthly volatility of 21.3% 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 -59.0% for GGZ 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GGZ charges 3.00% per year while SPY charges 0.09%. On a $10,000 position that is $300 vs $9 annually, a gap of $291 per year that compounds over a long holding period. On income, GGZ currently yields 4.34% against 1.01% for SPY.
Holdings Overlap
GGZ and SPY share 16 holdings out of 788 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GGZ or SPY?
GGZ has an expense ratio of 3.00% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $291 per year of difference.
Which performed better, GGZ or SPY?
Over the past year GGZ returned +24.80% vs +21.82% for SPY, so GGZ leads on 1-year performance. Over the longest common window we track (12 years), GGZ annualized +5.35% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GGZ or SPY?
GGZ has been the more volatile fund at 21.3% annualized versus 15.3% for SPY. Worst drawdown: GGZ -59.0% vs SPY -56.5%.
Should I hold both GGZ and SPY?
GGZ and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GGZ and SPY?
GGZ and SPY share 16 common holdings with a 0.6% weight overlap. Combined, they hold 788 unique securities.
Which pays a higher dividend, GGZ or SPY?
GGZ yields 4.34% while SPY yields 1.01%, so GGZ currently pays the higher dividend yield.
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