GMOV vs SPY
GMO US Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GMOV or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. GMOV led over 1Y and the full window. GMOV is less concentrated, with 33.2% of the fund in its ten largest positions against 37.8%.
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 | GMOV | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $107M | $804.7B |
| Dividend Yield | 1.81% | 0.98% |
| Holdings | 166 | 505 |
| YTD Return | +20.58%Best | +11.97% |
| 1Y Return | +27.82%Best | +16.40% |
| 3Y Return (annualized) | - | +21.10% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 12.3%Best | 12.9% |
| Max Drawdown | -17.0%Best | -18.8% |
| $10,000 over 1.9 years | $13,777Best | $13,397 |
| Top 10 Weight | 33.2%Best | 37.8% |
| Fund Family | GMO | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Oct 28, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.9 years row, are measured over the window both funds cover: Oct 29, 2024 to Sep 14, 2026 (1.9 years).
GMOV 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 1.9 years both funds cover.
GMOV vs SPY Performance
GMO US Value ETF (GMOV) is an ETF from GMO and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GMOV returned +27.82% while SPY returned +16.40%. Year to date, GMOV is up 20.58% versus a gain of 11.97% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.9% compared with 12.3% 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 -18.8% 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 0.66. They move together some of the time, and apart the rest.
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 1.81% against 0.98% for SPY.
Holdings Overlap
87.6% of GMOV's money is in holdings SPY also owns. 26.4% of SPY's money is in holdings GMOV also owns.
Most of GMOV is already inside SPY. Owning both mostly buys the same companies twice.
114 positions in common, counted across the 162 positions we hold weights for in GMOV and 504 in SPY, against full books of 166 and 505.
What only one of them owns
Our book lists 384 positions for SPY that do not appear in our book for GMOV (73.1% of the fund), and 47 for GMOV that do not appear in SPY (11.0%).
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.
Top Shared Holdings
| Stock | Weight in GMOV | Weight in SPY | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 7.20% | 5.66% | 1.54% |
| METAMeta Platforms Inc | 5.70% | 1.93% | 3.77% |
| XOMExxon Mobil Corp. | 3.50% | 1.04% | 2.46% |
| JPMJpmorgan Chase | 2.50% | 1.45% | 1.05% |
| MRKMerck & Company Inc | 3.20% | 0.56% | 2.64% |
| JNJJohnson & Johnson - Common | 2.10% | 0.99% | 1.11% |
| VZVerizon Communic | 2.50% | 0.32% | 2.18% |
| BACBank of America Corp.: Financials | 2.10% | 0.62% | 1.48% |
| PFEPfizer Inc | 2.40% | 0.25% | 2.15% |
| BMYBristol-Myers Squibb Co. | 2.00% | 0.21% | 1.79% |
87.6% of GMOV is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $41 a year on a $10,000 investment.
Which performed better, GMOV or SPY?
Over the past year GMOV returned +27.82% vs +16.40% for SPY, so GMOV leads on 1-year performance. Over the longest common window we track (2 years), GMOV annualized +18.37% vs +16.64% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GMOV or SPY?
SPY has been the more volatile fund at 12.9% annualized versus 12.3% for GMOV. Worst drawdown: GMOV -17.0% vs SPY -18.8%.
Should I hold both GMOV and SPY?
GMOV and SPY have a monthly-return correlation of 0.66, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between GMOV and SPY?
87.6% of GMOV's money is in holdings SPY also owns. 26.4% of SPY's is in holdings GMOV also owns. They hold 114 positions in common, counted across the 162 positions we hold weights for in GMOV and 504 in SPY.
Which pays a higher dividend, GMOV or SPY?
GMOV yields 1.81% while SPY yields 0.98%, so GMOV currently pays the higher dividend yield.
Is SPY better than GMOV?
SPY has a lower expense ratio. GMOV led over 1Y and the full window. GMOV is less concentrated, with 33.2% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.