GOEX vs SPY
Global X Gold Explorers ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GOEX or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. GOEX led over 1Y, 3Y and 5Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 39.2%.
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 | GOEX | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $134M | $804.7B |
| Dividend Yield | 1.90% | 0.98% |
| Holdings | 54 | 505 |
| YTD Return | +15.25%Best | +13.81% |
| 1Y Return | +42.81%Best | +16.94% |
| 3Y Return (annualized) | +61.40%Best | +22.84% |
| 5Y Return (annualized) | +29.12%Best | +13.50% |
| Volatility (annualized) | 44.8% | 14.2%Best |
| Max Drawdown | -90.6% | -34.1%Best |
| $10,000 over 5 years | $35,890Best | $18,836 |
| Top 10 Weight | 39.2% | 37.8%Best |
| Fund Family | Global X by mirae Asset | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Nov 3, 2010 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 4, 2010 to Sep 22, 2026 (15.9 years).
GOEX 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 15.9 years both funds cover.
GOEX vs SPY Performance
Global X Gold Explorers ETF (GOEX) is an ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GOEX returned +42.81% while SPY returned +16.94%. Year to date, GOEX is up 15.25% versus a gain of 13.81% for SPY.
Over three years, GOEX compounded at +61.40% per year against +22.84% for SPY; over five years the annualized figures are +29.12% and +13.50% respectively. Across the full 16-year window we track, SPY has the edge at +12.84% annualized vs -1.78%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GOEX has been the more volatile fund, with annualized monthly volatility of 44.8% compared with 14.2% 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 -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 0.28. They move largely independently of each other.
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 1.90% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 51 holdings in GOEX and 504 in SPY, totalling 100.0% and 99.9% 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 51 positions we hold weights for in GOEX and 504 in SPY, against full books of 54 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for GOEX (99.3% of the fund), and 4 for GOEX that do not appear in SPY (13.3%).
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 GOEX 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, GOEX or SPY?
GOEX has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which performed better, GOEX or SPY?
Over the past year GOEX returned +42.81% vs +16.94% for SPY, so GOEX leads on 1-year performance. Over the longest common window we track (16 years), GOEX annualized -1.78% vs +12.84% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GOEX or SPY?
GOEX has been the more volatile fund at 44.8% annualized versus 14.2% for SPY. Worst drawdown: GOEX -90.6% vs SPY -34.1%.
Should I hold both GOEX and SPY?
GOEX and SPY have a monthly-return correlation of 0.28, 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, GOEX or SPY?
GOEX yields 1.90% while SPY yields 0.98%, so GOEX currently pays the higher dividend yield.
Is SPY better than GOEX?
SPY has a lower expense ratio. GOEX led over 1Y, 3Y and 5Y, SPY over the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 39.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.