GKAT vs SPY
Scharf Global Opportunity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GKAT or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.4%.
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 | GKAT | SPY |
|---|---|---|
| Expense Ratio | 0.59% | 0.09%Best |
| AUM | $163M | $811.2B |
| Dividend Yield | 0.62% | 0.98% |
| Holdings | 36 | 1,515 |
| YTD Return | +7.06% | +12.70%Best |
| 1Y Return | +9.44% | +15.53%Best |
| 3Y Return (annualized) | - | +22.86% |
| 5Y Return (annualized) | - | +13.47% |
| Volatility (annualized) | 13.9% | 12.4%Best |
| Max Drawdown | -10.4% | -8.9%Best |
| $10,000 over 1.1 years | $11,387 | $12,052Best |
| Top 10 Weight | 47.4% | 38.2%Best |
| Fund Family | Scharf Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 14, 2014 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 25, 2025 to Oct 1, 2026 (1.1 years).
GKAT 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 1.1 years both funds cover.
GKAT vs SPY Performance
Scharf Global Opportunity ETF (GKAT) is an ETF from Scharf Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GKAT returned +9.44% while SPY returned +15.53%. Year to date, GKAT is up 7.06% versus a gain of 12.70% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GKAT has been the more volatile fund, with annualized monthly volatility of 13.9% compared with 12.4% 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 -10.4% for GKAT 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 0.65. They move together some of the time, and apart the rest.
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 0.62% against 0.98% for SPY.
Holdings Overlap
65.9% of GKAT's money is in holdings SPY also owns. 23.1% of SPY's money is in holdings GKAT also owns.
The two portfolios partly overlap.
19 positions in common, counted across the 32 positions we hold weights for in GKAT and 504 in SPY, against full books of 36 and 1,515.
What only one of them owns
Our book lists 478 positions for SPY that do not appear in our book for GKAT (76.1% of the fund), and 5 for GKAT that do not appear in SPY (11.3%).
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 GKAT | Weight in SPY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.07% | 5.71% | 0.36% |
| AMZNAmazon.Com Inc | 5.67% | 3.78% | 1.89% |
| NVDANvidia Corp | 0.86% | 7.78% | 6.92% |
| METAMeta Platforms Inc | 5.02% | 2.22% | 2.80% |
| OXYOccidental Petroleum Corp. | 6.50% | 0.07% | 6.43% |
| DISWalt Disney Co | 4.05% | 0.29% | 3.76% |
| UNPUnion Pacific Corp | 4.01% | 0.26% | 3.75% |
| ADBEAdobe Systems | 4.10% | 0.16% | 3.94% |
| MCDMcdonald'S Corp | 3.93% | 0.28% | 3.65% |
| SCHWSchwab Strategic T | 3.85% | 0.27% | 3.58% |
65.9% of GKAT is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $50 a year on a $10,000 investment.
Which performed better, GKAT or SPY?
Over the past year GKAT returned +9.44% vs +15.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), GKAT annualized +12.53% vs +18.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GKAT or SPY?
GKAT has been the more volatile fund at 13.9% annualized versus 12.4% for SPY. Worst drawdown: GKAT -10.4% vs SPY -8.9%.
Should I hold both GKAT and SPY?
GKAT and SPY have a monthly-return correlation of 0.65, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between GKAT and SPY?
65.9% of GKAT's money is in holdings SPY also owns. 23.1% of SPY's is in holdings GKAT also owns. They hold 19 positions in common, counted across the 32 positions we hold weights for in GKAT and 504 in SPY.
Which pays a higher dividend, GKAT or SPY?
GKAT yields 0.62% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than GKAT?
SPY has a lower expense ratio. SPY led over 1Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 47.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.