GINN vs SPY
Goldman Sachs Innovate Equity 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 503 holdings.
Side-by-Side Comparison
| Metric | GINN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $202M | $789.1B | |
| Dividend Yield | 1.17% | 1.01% | |
| Holdings | 485 | 505 | |
| YTD Return | +11.63% | +13.39% | |
| 1Y Return | +22.21% | +22.52% | |
| 3Y Return (annualized) | +19.52% | +21.36% | |
| 5Y Return (annualized) | +6.53% | +13.19% | |
| Volatility (annualized) | 18.4% | 15.3% | |
| Max Drawdown | -41.3% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 9, 2020 | Jan 22, 1993 |
GINN vs SPY Performance
Goldman Sachs Innovate Equity ETF (GINN) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GINN returned +22.21% while SPY returned +22.52%. Year to date, GINN is up 11.63% versus a gain of 13.39% for SPY.
Over three years, GINN compounded at +19.52% per year against +21.36% for SPY; over five years the annualized figures are +6.53% and +13.19% respectively. Across the full 6-year window we track, GINN has the edge at +9.52% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GINN has been the more volatile fund, with annualized monthly volatility of 18.4% 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 -41.3% for GINN 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GINN charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, GINN currently yields 1.17% against 1.01% for SPY.
Holdings Overlap
GINN and SPY share 133 holdings out of 838 unique holdings combined, representing a 35.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GINN or SPY?
GINN has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, GINN or SPY?
Over the past year GINN returned +22.21% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), GINN annualized +9.52% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, GINN or SPY?
GINN has been the more volatile fund at 18.4% annualized versus 15.3% for SPY. Worst drawdown: GINN -41.3% vs SPY -56.5%.
Should I hold both GINN and SPY?
GINN and SPY have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between GINN and SPY?
GINN and SPY share 133 common holdings with a 35.9% weight overlap. Combined, they hold 838 unique securities.
Which pays a higher dividend, GINN or SPY?
GINN yields 1.17% while SPY yields 1.01%, so GINN currently pays the higher dividend yield.
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