GMOI vs SPY
GMO International Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GMOI delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GMOI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $658M | $821.1B | |
| Dividend Yield | 2.64% | 1.01% | |
| Holdings | 163 | 505 | |
| YTD Return | +21.64% | +13.17% | |
| 1Y Return | +37.12% | +21.53% | |
| 3Y Return (annualized) | - | +22.06% | |
| 5Y Return (annualized) | - | +13.35% | |
| Volatility (annualized) | 10.8% | 15.3% | |
| Max Drawdown | -14.7% | -56.5% | |
| Fund Family | GMO | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 28, 2024 | Jan 22, 1993 |
GMOI vs SPY Performance
GMO International Value ETF (GMOI) is a ETF from GMO and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GMOI returned +37.12% while SPY returned +21.53%. Year to date, GMOI is up 21.64% versus a gain of 13.17% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.8% for GMOI. 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 -14.7% for GMOI 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 0.21. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMOI charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, GMOI currently yields 2.64% against 1.01% for SPY.
Holdings Overlap
GMOI and SPY share 0 holdings out of 682 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, GMOI or SPY?
GMOI has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, GMOI or SPY?
Over the past year GMOI returned +37.12% vs +21.53% for SPY, so GMOI leads on 1-year performance. Over the longest common window we track (2 years), GMOI annualized +34.65% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, GMOI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.8% for GMOI. Worst drawdown: GMOI -14.7% vs SPY -56.5%.
Should I hold both GMOI and SPY?
GMOI and SPY have a monthly-return correlation of 0.21, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMOI and SPY?
GMOI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 682 unique securities.
Which pays a higher dividend, GMOI or SPY?
GMOI yields 2.64% while SPY yields 1.01%, so GMOI currently pays the higher dividend yield.
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