GOEX vs SPY
Global X Gold Explorers ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GOEX delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GOEX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.65% | 0.09% | |
| AUM | $108M | $789.1B | |
| Dividend Yield | 2.55% | 1.01% | |
| Holdings | 55 | 505 | |
| YTD Return | +6.54% | +13.39% | |
| 1Y Return | +79.27% | +22.52% | |
| 3Y Return (annualized) | +55.32% | +21.36% | |
| 5Y Return (annualized) | +26.00% | +13.19% | |
| Volatility (annualized) | 44.5% | 15.3% | |
| Max Drawdown | -90.6% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 3, 2010 | Jan 22, 1993 |
GOEX vs SPY Performance
Global X Gold Explorers ETF (GOEX) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GOEX returned +79.27% while SPY returned +22.52%. Year to date, GOEX is up 6.54% versus a gain of 13.39% for SPY.
Over three years, GOEX compounded at +55.32% per year against +21.36% for SPY; over five years the annualized figures are +26.00% and +13.19% respectively. Across the full 16-year window we track, SPY has the edge at +8.84% annualized vs -2.28%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GOEX has been the more volatile fund, with annualized monthly volatility of 44.5% 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 -90.6% for GOEX 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 0.29. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GOEX charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, GOEX currently yields 2.55% against 1.01% for SPY.
Holdings Overlap
GOEX and SPY share 0 holdings out of 555 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, GOEX or SPY?
GOEX has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $56 per year of difference.
Which performed better, GOEX or SPY?
Over the past year GOEX returned +79.27% vs +22.52% for SPY, so GOEX leads on 1-year performance. Over the longest common window we track (16 years), GOEX annualized -2.28% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, GOEX or SPY?
GOEX has been the more volatile fund at 44.5% annualized versus 15.3% for SPY. Worst drawdown: GOEX -90.6% vs SPY -56.5%.
Should I hold both GOEX and SPY?
GOEX and SPY have a monthly-return correlation of 0.29, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GOEX and SPY?
GOEX and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, GOEX or SPY?
GOEX yields 2.55% while SPY yields 1.01%, so GOEX currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.