GIND vs SPY
Goldman Sachs India Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GIND or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. GIND is less concentrated, with 25.9% of the fund in its ten largest positions against 37.8%.
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 | GIND | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $171M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 127 | 505 |
| YTD Return | -8.64% | +12.99%Best |
| 1Y Return | -7.86% | +16.73%Best |
| 3Y Return (annualized) | - | +22.52% |
| 5Y Return (annualized) | - | +13.07% |
| Volatility (annualized) | 15.4% | 12.1%Best |
| Max Drawdown | -23.0% | -8.9%Best |
| $10,000 over 1.5 years | $9,629 | $14,607Best |
| Top 10 Weight | 25.9%Best | 37.8% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Apr 1, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 3, 2025 to Sep 23, 2026 (1.5 years).
GIND 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 1.5 years both funds cover.
GIND vs SPY Performance
Goldman Sachs India Equity ETF (GIND) is an ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GIND returned -7.86% while SPY returned +16.73%. Year to date, GIND is down 8.64% versus a gain of 12.99% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GIND has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 12.1% 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 -23.0% for GIND and -8.9% 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 0.69. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GIND charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, GIND currently yields 0.00% against 0.98% for SPY.
Holdings Overlap
0.9% of GIND's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings GIND also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
1 positions in common, counted across the 126 positions we hold weights for in GIND and 504 in SPY, against full books of 127 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for GIND (99.3% of the fund), and 6 for GIND that do not appear in SPY (4.5%).
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 GIND | Weight in SPY | Difference |
|---|---|---|---|
| CTSHCognizant Technology Solutions Corp. Class A | 0.92% | 0.05% | 0.87% |
You are not choosing between two funds in isolation.
Whichever of GIND and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GIND or SPY?
GIND has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, GIND or SPY?
Over the past year GIND returned -7.86% vs +16.73% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), GIND annualized -2.49% vs +28.74% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GIND or SPY?
GIND has been the more volatile fund at 15.4% annualized versus 12.1% for SPY. Worst drawdown: GIND -23.0% vs SPY -8.9%.
Should I hold both GIND and SPY?
GIND and SPY have a monthly-return correlation of 0.69, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GIND or SPY?
GIND yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than GIND?
SPY has a lower expense ratio. SPY led over 1Y and the full window. GIND is less concentrated, with 25.9% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.