GIAX vs SPY
Nicholas Global Equity and Income ETF 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 | GIAX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.03% | 0.09% | |
| AUM | $112M | $821.1B | |
| Dividend Yield | 26.86% | 1.01% | |
| Holdings | 87 | 505 | |
| YTD Return | +12.95% | +12.68% | |
| 1Y Return | +17.69% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 21.1% | 15.3% | |
| Max Drawdown | -20.4% | -56.5% | |
| Fund Family | XFunds | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 29, 2024 | Jan 22, 1993 |
GIAX vs SPY Performance
Nicholas Global Equity and Income ETF (GIAX) is a ETF from XFunds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GIAX returned +17.69% while SPY returned +21.82%. Year to date, GIAX is up 12.95% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
GIAX has been the more volatile fund, with annualized monthly volatility of 21.1% 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 -20.4% for GIAX 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
GIAX charges 1.03% per year while SPY charges 0.09%. On a $10,000 position that is $103 vs $9 annually, a gap of $94 per year that compounds over a long holding period. On income, GIAX currently yields 26.86% against 1.01% for SPY.
Holdings Overlap
GIAX and SPY share 13 holdings out of 517 unique holdings combined, representing a 27.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GIAX or SPY?
GIAX has an expense ratio of 1.03% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $94 per year of difference.
Which performed better, GIAX or SPY?
Over the past year GIAX returned +17.69% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), GIAX annualized +14.36% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GIAX or SPY?
GIAX has been the more volatile fund at 21.1% annualized versus 15.3% for SPY. Worst drawdown: GIAX -20.4% vs SPY -56.5%.
Should I hold both GIAX and SPY?
GIAX 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 GIAX and SPY?
GIAX and SPY share 13 common holdings with a 27.5% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, GIAX or SPY?
GIAX yields 26.86% while SPY yields 1.01%, so GIAX currently pays the higher dividend yield.
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