GMAR vs SPY
FT Vest US Equity Moderate Buffer ETF - March 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 | GMAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $395M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 5 | 505 | |
| YTD Return | +9.77% | +14.47% | |
| 1Y Return | +13.38% | +21.96% | |
| 3Y Return (annualized) | +12.06% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 4.9% | 15.3% | |
| Max Drawdown | -9.1% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 17, 2023 | Jan 22, 1993 |
GMAR vs SPY Performance
FT Vest US Equity Moderate Buffer ETF - March (GMAR) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GMAR returned +13.38% while SPY returned +21.96%. Year to date, GMAR is up 9.77% versus a gain of 14.47% for SPY.
Over three years, GMAR compounded at +12.06% per year against +21.70% for SPY. Across the full 3-year window we track, GMAR has the edge at +12.80% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.9% for GMAR. 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 -9.1% for GMAR 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 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GMAR charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, GMAR currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
GMAR and SPY share 0 holdings out of 504 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, GMAR or SPY?
GMAR has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, GMAR or SPY?
Over the past year GMAR returned +13.38% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), GMAR annualized +12.80% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, GMAR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.9% for GMAR. Worst drawdown: GMAR -9.1% vs SPY -56.5%.
Should I hold both GMAR and SPY?
GMAR and SPY have a monthly-return correlation of 0.90, 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 GMAR and SPY?
GMAR and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, GMAR or SPY?
GMAR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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