GII vs SPY
State Street SPDR S&P Global Infrastructure 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 | GII | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.40% | 0.09% | |
| AUM | $930M | $821.1B | |
| Dividend Yield | 2.66% | 1.01% | |
| Holdings | 88 | 505 | |
| YTD Return | +6.80% | +12.68% | |
| 1Y Return | +9.91% | +21.82% | |
| 3Y Return (annualized) | +17.06% | +21.98% | |
| 5Y Return (annualized) | +10.39% | +12.89% | |
| Volatility (annualized) | 15.0% | 15.3% | |
| Max Drawdown | -53.6% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 25, 2007 | Jan 22, 1993 |
GII vs SPY Performance
State Street SPDR S&P Global Infrastructure ETF (GII) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GII returned +9.91% while SPY returned +21.82%. Year to date, GII is up 6.80% versus a gain of 12.68% for SPY.
Over three years, GII compounded at +17.06% per year against +21.98% for SPY; over five years the annualized figures are +10.39% and +12.89% respectively. Across the full 20-year window we track, SPY has the edge at +8.81% annualized vs +2.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.0% for GII. 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 -53.6% for GII 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GII charges 0.40% per year while SPY charges 0.09%. On a $10,000 position that is $40 vs $9 annually, a gap of $31 per year that compounds over a long holding period. On income, GII currently yields 2.66% against 1.01% for SPY.
Holdings Overlap
GII and SPY share 18 holdings out of 562 unique holdings combined, representing a 1.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GII or SPY?
GII has an expense ratio of 0.40% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $31 per year of difference.
Which performed better, GII or SPY?
Over the past year GII returned +9.91% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), GII annualized +2.84% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GII or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.0% for GII. Worst drawdown: GII -53.6% vs SPY -56.5%.
Should I hold both GII and SPY?
GII and SPY have a monthly-return correlation of 0.76, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GII and SPY?
GII and SPY share 18 common holdings with a 1.9% weight overlap. Combined, they hold 562 unique securities.
Which pays a higher dividend, GII or SPY?
GII yields 2.66% while SPY yields 1.01%, so GII currently pays the higher dividend yield.
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