GOP vs SPY
Subversive Congressional Republicans Trading ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GOP or SPY?
Each has led over a different period.
SPY has a lower expense ratio. GOP led over 1Y, SPY over 3Y and the full window. GOP is less concentrated, with 35.9% of the fund in its ten largest positions against 38.0%.
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 | GOP | SPY |
|---|---|---|
| Expense Ratio | 0.73% | 0.09%Best |
| AUM | $93M | $814.4B |
| Dividend Yield | 0.58% | 1.01% |
| Holdings | 141 | 505 |
| YTD Return | +20.97%Best | +13.78% |
| 1Y Return | +27.62%Best | +21.44% |
| 3Y Return (annualized) | +21.03% | +21.38%Best |
| 5Y Return (annualized) | - | +12.80% |
| Volatility (annualized) | 13.3% | 12.3%Best |
| Max Drawdown | -20.7% | -18.8%Best |
| $10,000 over 3.6 years | $18,041 | $19,586Best |
| Top 10 Weight | 35.9%Best | 38.0% |
| Fund Family | Subversive Capital | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Feb 7, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Feb 7, 2023 to Sep 3, 2026 (3.6 years).
GOP 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 3.6 years both funds cover.
GOP vs SPY Performance
Subversive Congressional Republicans Trading ETF (GOP) is an ETF from Subversive Capital and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GOP returned +27.62% while SPY returned +21.44%. Year to date, GOP is up 20.97% versus a gain of 13.78% for SPY.
Over three years, GOP compounded at +21.03% per year against +21.38% for SPY. Across the full 4-year window we track, SPY has the edge at +20.53% annualized vs +17.81%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GOP has been the more volatile fund, with annualized monthly volatility of 13.3% compared with 12.3% 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 -20.7% for GOP 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 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GOP charges 0.73% per year while SPY charges 0.09%. On a $10,000 position that is $73 vs $9 annually, a gap of $64 per year that compounds over a long holding period. On income, GOP currently yields 0.58% against 1.01% for SPY.
Holdings Overlap
71.3% of GOP's money is in holdings SPY also owns. 53.1% of SPY's money is in holdings GOP also owns.
Most of GOP is already inside SPY. Owning both mostly buys the same companies twice.
89 positions in common, counted across the 141 positions we hold weights for in GOP and 504 in SPY, against full books of 141 and 505.
What only one of them owns
Our book lists 408 positions for SPY that do not appear in our book for GOP (46.4% of the fund), and 42 for GOP that do not appear in SPY (23.4%).
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 GOP | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 3.31% | 7.71% | 4.40% |
| FIXComfort Systems USA Inc. | 7.83% | 0.09% | 7.74% |
| AAPLApple, Inc | 0.54% | 6.83% | 6.29% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 0.52% | 5.50% | 4.98% |
| JPMJpmorgan Chase | 4.54% | 1.44% | 3.10% |
| INTCIntel Corporation | 5.19% | 0.72% | 4.47% |
| AMZNAmazon.Com Inc | 0.66% | 4.08% | 3.42% |
| AVGOBroadcom Inc | 0.93% | 2.97% | 2.04% |
| AMDAdvanced Micro Devices Inc | 2.59% | 1.27% | 1.32% |
| ANETArista Networks Inc. | 3.44% | 0.30% | 3.14% |
71.3% of GOP 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, GOP or SPY?
GOP has an expense ratio of 0.73% while SPY charges 0.09%. SPY is the cheaper option, by $64 a year on a $10,000 investment.
Which performed better, GOP or SPY?
Over the past year GOP returned +27.62% vs +21.44% for SPY, so GOP leads on 1-year performance. Over the longest common window we track (4 years), GOP annualized +17.81% vs +20.53% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GOP or SPY?
GOP has been the more volatile fund at 13.3% annualized versus 12.3% for SPY. Worst drawdown: GOP -20.7% vs SPY -18.8%.
Should I hold both GOP and SPY?
GOP and SPY have a monthly-return correlation of 0.89, 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 GOP and SPY?
71.3% of GOP's money is in holdings SPY also owns. 53.1% of SPY's is in holdings GOP also owns. They hold 89 positions in common, counted across the 141 positions we hold weights for in GOP and 504 in SPY.
Which pays a higher dividend, GOP or SPY?
GOP yields 0.58% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than GOP?
SPY has a lower expense ratio. GOP led over 1Y, SPY over 3Y and the full window. GOP is less concentrated, with 35.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.