GKAT vs SPY
Scharf Global Opportunity 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 | GKAT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $169M | $821.1B | |
| Dividend Yield | 0.65% | 1.01% | |
| Holdings | 36 | 505 | |
| YTD Return | +12.11% | +14.24% | |
| 1Y Return | +19.25% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 13.4% | 15.3% | |
| Max Drawdown | -10.4% | -56.5% | |
| Fund Family | Scharf Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 14, 2014 | Jan 22, 1993 |
GKAT vs SPY Performance
Scharf Global Opportunity ETF (GKAT) is a ETF from Scharf Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GKAT returned +19.25% while SPY returned +21.71%. Year to date, GKAT is up 12.11% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.4% for GKAT. 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 -10.4% for GKAT 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GKAT charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, GKAT currently yields 0.65% against 1.01% for SPY.
Holdings Overlap
GKAT and SPY share 19 holdings out of 517 unique holdings combined, representing a 17.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GKAT or SPY?
GKAT has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, GKAT or SPY?
Over the past year GKAT returned +19.25% vs +21.71% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results.
Which is riskier, GKAT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.4% for GKAT. Worst drawdown: GKAT -10.4% vs SPY -56.5%.
Should I hold both GKAT and SPY?
GKAT and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GKAT and SPY?
GKAT and SPY share 19 common holdings with a 17.1% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, GKAT or SPY?
GKAT yields 0.65% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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