GLDY vs SPY
Defiance Gold Enhanced Options Income 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 | GLDY | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.04% | 0.09% | |
| AUM | $26M | $821.1B | |
| Dividend Yield | 3.17% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | -10.84% | +12.22% | |
| 1Y Return | +4.81% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 17.9% | 15.3% | |
| Max Drawdown | -25.9% | -56.5% | |
| Fund Family | Defiance ETFs, LLC | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Apr 1, 2025 | Jan 22, 1993 |
GLDY vs SPY Performance
Defiance Gold Enhanced Options Income ETF (GLDY) is a ETF from Defiance ETFs, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GLDY returned +4.81% while SPY returned +20.83%. Year to date, GLDY is down 10.84% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
GLDY has been the more volatile fund, with annualized monthly volatility of 17.9% 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 -25.9% for GLDY 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 0.30. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GLDY charges 1.04% per year while SPY charges 0.09%. On a $10,000 position that is $104 vs $9 annually, a gap of $95 per year that compounds over a long holding period. On income, GLDY currently yields 3.17% against 1.01% for SPY.
Holdings Overlap
GLDY and SPY share 0 holdings out of 509 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GLDY or SPY?
GLDY has an expense ratio of 1.04% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $95 per year of difference.
Which performed better, GLDY or SPY?
Over the past year GLDY returned +4.81% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (1 years), GLDY annualized +11.99% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, GLDY or SPY?
GLDY has been the more volatile fund at 17.9% annualized versus 15.3% for SPY. Worst drawdown: GLDY -25.9% vs SPY -56.5%.
Should I hold both GLDY and SPY?
GLDY and SPY have a monthly-return correlation of 0.30, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GLDY and SPY?
GLDY and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 509 unique securities.
Which pays a higher dividend, GLDY or SPY?
GLDY yields 3.17% while SPY yields 1.01%, so GLDY currently pays the higher dividend yield.
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