GNT vs SPY
GAMCO Natural Resources Gold & Income Trust vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GNT delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GNT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 1.18% | 0.09% | |
| AUM | $163M | $789.1B | |
| Dividend Yield | 7.95% | 1.01% | |
| Holdings | 281 | 505 | |
| YTD Return | +23.59% | +14.47% | |
| 1Y Return | +45.62% | +21.96% | |
| 3Y Return (annualized) | +28.38% | +21.70% | |
| 5Y Return (annualized) | +18.76% | +13.30% | |
| Volatility (annualized) | 22.4% | 15.3% | |
| Max Drawdown | -88.1% | -56.5% | |
| Fund Family | Gabelli Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 27, 2011 | Jan 22, 1993 |
GNT vs SPY Performance
GAMCO Natural Resources Gold & Income Trust (GNT) is a ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GNT returned +45.62% while SPY returned +21.96%. Year to date, GNT is up 23.59% versus a gain of 14.47% for SPY.
Over three years, GNT compounded at +28.38% per year against +21.70% for SPY; over five years the annualized figures are +18.76% and +13.30% respectively. Across the full 16-year window we track, SPY has the edge at +8.87% annualized vs -2.71%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GNT has been the more volatile fund, with annualized monthly volatility of 22.4% compared with 15.3% for SPY. 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 -88.1% for GNT 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GNT charges 1.18% per year while SPY charges 0.09%. On a $10,000 position that is $118 vs $9 annually, a gap of $109 per year that compounds over a long holding period. On income, GNT currently yields 7.95% against 1.01% for SPY.
Holdings Overlap
GNT and SPY share 28 holdings out of 563 unique holdings combined, representing a 3.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GNT or SPY?
GNT has an expense ratio of 1.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $109 per year of difference.
Which performed better, GNT or SPY?
Over the past year GNT returned +45.62% vs +21.96% for SPY, so GNT leads on 1-year performance. Over the longest common window we track (16 years), GNT annualized -2.71% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, GNT or SPY?
GNT has been the more volatile fund at 22.4% annualized versus 15.3% for SPY. Worst drawdown: GNT -88.1% vs SPY -56.5%.
Should I hold both GNT and SPY?
GNT and SPY have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GNT and SPY?
GNT and SPY share 28 common holdings with a 3.6% weight overlap. Combined, they hold 563 unique securities.
Which pays a higher dividend, GNT or SPY?
GNT yields 7.95% while SPY yields 1.01%, so GNT currently pays the higher dividend yield.
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