GMOV vs SPY
GMO US Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GMOV delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GMOV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $110M | $821.1B | |
| Dividend Yield | 1.88% | 1.01% | |
| Holdings | 166 | 505 | |
| YTD Return | +19.11% | +12.68% | |
| 1Y Return | +27.94% | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 12.5% | 15.3% | |
| Max Drawdown | -17.0% | -56.5% | |
| Fund Family | GMO | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 28, 2024 | Jan 22, 1993 |
GMOV vs SPY Performance
GMO US Value ETF (GMOV) 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 GMOV returned +27.94% while SPY returned +21.82%. Year to date, GMOV is up 19.11% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.5% for GMOV. 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 -17.0% for GMOV 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GMOV charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, GMOV currently yields 1.88% against 1.01% for SPY.
Holdings Overlap
GMOV and SPY share 117 holdings out of 553 unique holdings combined, representing a 24.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GMOV or SPY?
GMOV has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, GMOV or SPY?
Over the past year GMOV returned +27.94% vs +21.82% for SPY, so GMOV leads on 1-year performance. Over the longest common window we track (2 years), GMOV annualized +18.30% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GMOV or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 12.5% for GMOV. Worst drawdown: GMOV -17.0% vs SPY -56.5%.
Should I hold both GMOV and SPY?
GMOV and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GMOV and SPY?
GMOV and SPY share 117 common holdings with a 24.4% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, GMOV or SPY?
GMOV yields 1.88% while SPY yields 1.01%, so GMOV currently pays the higher dividend yield.
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