GINN vs SPY
Goldman Sachs Innovate Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GINN or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. GINN is less concentrated, with 15.7% 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 | GINN | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $198M | $804.7B |
| Dividend Yield | 1.12% | 0.98% |
| Holdings | 483 | 505 |
| YTD Return | +11.49% | +12.89%Best |
| 1Y Return | +13.21% | +17.01%Best |
| 3Y Return (annualized) | +21.59% | +22.46%Best |
| 5Y Return (annualized) | +6.46% | +13.01%Best |
| Volatility (annualized) | 18.3% | 14.9%Best |
| Max Drawdown | -41.3% | -24.5%Best |
| $10,000 over 5 years | $13,675 | $18,433Best |
| Top 10 Weight | 15.7%Best | 37.8% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Nov 9, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 9, 2020 to Sep 24, 2026 (5.9 years).
GINN 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 5.9 years both funds cover.
GINN vs SPY Performance
Goldman Sachs Innovate Equity ETF (GINN) 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 GINN returned +13.21% while SPY returned +17.01%. Year to date, GINN is up 11.49% versus a gain of 12.89% for SPY.
Over three years, GINN compounded at +21.59% per year against +22.46% for SPY; over five years the annualized figures are +6.46% and +13.01% respectively. Across the full 6-year window we track, SPY has the edge at +15.49% annualized vs +9.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GINN has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 14.9% 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 -24.5% 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 0.92. 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 1.12% against 0.98% for SPY.
Holdings Overlap
53.2% of GINN's money is in holdings SPY also owns. 58.5% of SPY's money is in holdings GINN also owns.
The two portfolios partly overlap.
131 positions in common, counted across the 474 positions we hold weights for in GINN and 504 in SPY, against full books of 483 and 505.
What only one of them owns
Our book lists 366 positions for SPY that do not appear in our book for GINN (40.9% of the fund), and 191 for GINN that do not appear in SPY (21.4%).
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 GINN | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 1.96% | 8.01% | 6.05% |
| AAPLApple, Inc | 2.01% | 7.26% | 5.25% |
| MSFTMicrosoft Corp | 2.02% | 5.66% | 3.64% |
| AMZNAmazon.Com Inc | 1.88% | 3.79% | 1.91% |
| GOOGLAlphabet Inc,class A | 1.91% | 2.99% | 1.08% |
| METAMeta Platforms Inc | 1.52% | 1.93% | 0.41% |
| AVGOBroadcom Inc | 0.70% | 2.66% | 1.96% |
| TSLATesla Inc | 1.21% | 1.52% | 0.31% |
| LLYEli Lilly & Co. | 0.92% | 1.40% | 0.48% |
| MUMicron Technology, Inc. | 0.49% | 1.60% | 1.11% |
58.5% of SPY is already inside GINN.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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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, by $41 a year on a $10,000 investment.
Which performed better, GINN or SPY?
Over the past year GINN returned +13.21% vs +17.01% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), GINN annualized +9.30% vs +15.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GINN or SPY?
GINN has been the more volatile fund at 18.3% annualized versus 14.9% for SPY. Worst drawdown: GINN -41.3% vs SPY -24.5%.
Should I hold both GINN and SPY?
GINN and SPY have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between GINN and SPY?
58.5% of SPY's money is in holdings GINN also owns. 58.5% of SPY's is in holdings GINN also owns. They hold 131 positions in common, counted across the 474 positions we hold weights for in GINN and 504 in SPY.
Which pays a higher dividend, GINN or SPY?
GINN yields 1.12% while SPY yields 0.98%, so GINN currently pays the higher dividend yield.
Is SPY better than GINN?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. GINN is less concentrated, with 15.7% 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.