GOF vs SPY
Guggenheim Strategic Opportunities Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. GOF offers more diversification with 1,635 holdings.
Side-by-Side Comparison
| Metric | GOF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.44% | 0.09% | |
| AUM | $2.4B | $821.1B | |
| Dividend Yield | 20.95% | 1.01% | |
| Holdings | 1,635 | 505 | |
| YTD Return | -14.50% | +13.21% | |
| 1Y Return | -22.96% | +19.87% | |
| 3Y Return (annualized) | -1.11% | +21.16% | |
| 5Y Return (annualized) | -1.23% | +12.74% | |
| Volatility (annualized) | 17.0% | 15.3% | |
| Max Drawdown | -62.5% | -56.5% | |
| Fund Family | Guggenheim Investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jul 26, 2007 | Jan 22, 1993 |
GOF vs SPY Performance
Guggenheim Strategic Opportunities Fund (GOF) is a ETF from Guggenheim Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GOF returned -22.96% while SPY returned +19.87%. Year to date, GOF is down 14.50% versus a gain of 13.21% for SPY.
Over three years, GOF compounded at -1.11% per year against +21.16% for SPY; over five years the annualized figures are -1.23% and +12.74% respectively. Across the full 19-year window we track, SPY has the edge at +8.82% annualized vs +0.29%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GOF has been the more volatile fund, with annualized monthly volatility of 17.0% 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 -62.5% for GOF 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GOF charges 2.44% per year while SPY charges 0.09%. On a $10,000 position that is $244 vs $9 annually, a gap of $235 per year that compounds over a long holding period. On income, GOF currently yields 20.95% against 1.01% for SPY.
Holdings Overlap
GOF and SPY share 481 holdings out of 868 unique holdings combined, representing a 1.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GOF or SPY?
GOF has an expense ratio of 2.44% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $235 per year of difference.
Which performed better, GOF or SPY?
Over the past year GOF returned -22.96% vs +19.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), GOF annualized +0.29% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, GOF or SPY?
GOF has been the more volatile fund at 17.0% annualized versus 15.3% for SPY. Worst drawdown: GOF -62.5% vs SPY -56.5%.
Should I hold both GOF and SPY?
GOF and SPY have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GOF and SPY?
GOF and SPY share 481 common holdings with a 1.1% weight overlap. Combined, they hold 868 unique securities.
Which pays a higher dividend, GOF or SPY?
GOF yields 20.95% while SPY yields 1.01%, so GOF currently pays the higher dividend yield.
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