GIAX vs SPY
Nicholas Global Equity and Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GIAX or SPY?
Multi Alternative against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 59.1%.
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 | GIAX | SPY |
|---|---|---|
| Expense Ratio | 1.03% | 0.09%Best |
| AUM | $108M | $804.7B |
| Dividend Yield | 24.80% | 0.98% |
| Holdings | 87 | 505 |
| YTD Return | +11.58% | +11.97%Best |
| 1Y Return | +12.39% | +16.40%Best |
| 3Y Return (annualized) | - | +21.10% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 20.9% | 12.2%Best |
| Max Drawdown | -20.4% | -18.8%Best |
| $10,000 over 2.1 years | $12,981 | $14,310Best |
| Top 10 Weight | 59.1% | 37.8%Best |
| Fund Family | XFunds | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Multi Alternative | Large Cap Blend |
| Inception | Jul 29, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Jul 30, 2024 to Sep 14, 2026 (2.1 years).
GIAX 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 2.1 years both funds cover.
GIAX vs SPY Performance
Nicholas Global Equity and Income ETF (GIAX) is an ETF from XFunds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GIAX returned +12.39% while SPY returned +16.40%. Year to date, GIAX is up 11.58% versus a gain of 11.97% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GIAX has been the more volatile fund, with annualized monthly volatility of 20.9% compared with 12.2% 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 -18.8% 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 0.84. 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 24.80% against 0.98% for SPY.
Holdings Overlap
51.0% of GIAX's money is in holdings SPY also owns. 36.5% of SPY's money is in holdings GIAX also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 26 positions we hold weights for in GIAX and 504 in SPY, against full books of 87 and 505.
What only one of them owns
Our book lists 484 positions for SPY that do not appear in our book for GIAX (62.9% of the fund), and 10 for GIAX that do not appear in SPY (41.4%).
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.
Top Shared Holdings
| Stock | Weight in GIAX | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 4.25% | 8.01% | 3.76% |
| AAPLApple, Inc | 3.86% | 7.26% | 3.40% |
| MSFTMicrosoft Corp | 4.55% | 5.66% | 1.11% |
| MUMicron Technology, Inc. | 6.80% | 1.60% | 5.20% |
| AMZNAmazon.Com Inc | 3.78% | 3.79% | 0.01% |
| GOOGLAlphabet Inc,class A | 3.69% | 2.99% | 0.70% |
| AVGOBroadcom Inc | 3.16% | 2.66% | 0.50% |
| NOWServicenow, Inc | 5.24% | 0.22% | 5.02% |
| METAMeta Platforms Inc | 3.35% | 1.93% | 1.42% |
| TSLATesla Inc | 2.91% | 1.52% | 1.39% |
51.0% of GIAX is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $94 a year on a $10,000 investment.
Which performed better, GIAX or SPY?
Over the past year GIAX returned +12.39% vs +16.40% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), GIAX annualized +13.23% vs +18.61% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GIAX or SPY?
GIAX has been the more volatile fund at 20.9% annualized versus 12.2% for SPY. Worst drawdown: GIAX -20.4% vs SPY -18.8%.
Should I hold both GIAX and SPY?
GIAX and SPY have a monthly-return correlation of 0.84, 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 GIAX and SPY?
51.0% of GIAX's money is in holdings SPY also owns. 36.5% of SPY's is in holdings GIAX also owns. They hold 13 positions in common, counted across the 26 positions we hold weights for in GIAX and 504 in SPY.
Which pays a higher dividend, GIAX or SPY?
GIAX yields 24.80% while SPY yields 0.98%, so GIAX currently pays the higher dividend yield.
Is SPY better than GIAX?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 59.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.