GMOM vs SPY
Cambria Global Momentum ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GMOM or SPY?
Tactical Allocation against Large Cap Blend.
SPY has a lower expense ratio. GMOM led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 83.4%.
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 | GMOM | SPY |
|---|---|---|
| Expense Ratio | 0.95% | 0.09%Best |
| AUM | $72M | $811.2B |
| Dividend Yield | 1.43% | 0.98% |
| Holdings | 30 | 1,515 |
| YTD Return | +14.13% | +14.85%Best |
| 1Y Return | +18.14%Best | +17.26% |
| 3Y Return (annualized) | +15.06% | +22.95%Best |
| 5Y Return (annualized) | +7.68% | +13.89%Best |
| Volatility (annualized) | 9.6%Best | 14.9% |
| Max Drawdown | -25.0%Best | -34.1% |
| $10,000 over 5 years | $14,477 | $19,161Best |
| Top 10 Weight | 83.4% | 38.2%Best |
| Fund Family | Cambria Investment Management | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Tactical Allocation | Large Cap Blend |
| Inception | Nov 3, 2014 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 4, 2014 to Oct 9, 2026 (11.9 years).
GMOM 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 11.9 years both funds cover.
GMOM vs SPY Performance
Cambria Global Momentum ETF (GMOM) is an ETF from Cambria Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GMOM returned +18.14% while SPY returned +17.26%. Year to date, GMOM is up 14.13% versus a gain of 14.85% for SPY.
Over three years, GMOM compounded at +15.06% per year against +22.95% for SPY; over five years the annualized figures are +7.68% and +13.89% respectively. Across the full 12-year window we track, SPY has the edge at +12.74% annualized vs +6.02%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.9% compared with 9.6% for GMOM. 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 -25.0% for GMOM and -34.1% 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 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GMOM charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, GMOM currently yields 1.43% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 14 holdings in GMOM and 504 in SPY, totalling 100.0% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 14 positions we hold weights for in GMOM and 504 in SPY, against full books of 30 and 1,515.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for GMOM (99.2% of the fund), and 13 for GMOM that do not appear in SPY (87.6%).
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.
You are not choosing between two funds in isolation.
Whichever of GMOM and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GMOM or SPY?
GMOM has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option, by $86 a year on a $10,000 investment.
Which performed better, GMOM or SPY?
Over the past year GMOM returned +18.14% vs +17.26% for SPY, so GMOM leads on 1-year performance. Over the longest common window we track (12 years), GMOM annualized +6.02% vs +12.74% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GMOM or SPY?
SPY has been the more volatile fund at 14.9% annualized versus 9.6% for GMOM. Worst drawdown: GMOM -25.0% vs SPY -34.1%.
Should I hold both GMOM and SPY?
GMOM and SPY have a monthly-return correlation of 0.64, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GMOM or SPY?
GMOM yields 1.43% while SPY yields 0.98%, so GMOM currently pays the higher dividend yield.
Is SPY better than GMOM?
SPY has a lower expense ratio. GMOM led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 83.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.