GOVI vs SPY
Invesco Equal Weight 0-30 Year Treasury ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GOVI or SPY?
Long Term Government Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GOVI is less concentrated, with 34.2% 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 | GOVI | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $1.2B | $804.7B |
| Dividend Yield | 3.96% | 0.98% |
| Holdings | 31 | 505 |
| YTD Return | -3.10% | +12.47%Best |
| 1Y Return | -3.80% | +17.51%Best |
| 3Y Return (annualized) | +1.45% | +21.18%Best |
| 5Y Return (annualized) | -4.09% | +12.88%Best |
| Volatility (annualized) | 8.7%Best | 15.7% |
| Max Drawdown | -33.1%Best | -56.4% |
| $10,000 over 5 years | $8,116 | $18,327Best |
| Top 10 Weight | 34.2%Best | 38.0% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Government Bond | Large Cap Blend |
| Inception | Oct 11, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 11, 2007 to Sep 11, 2026 (18.9 years).
GOVI 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
GOVI vs SPY Performance
Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GOVI returned -3.80% while SPY returned +17.51%. Year to date, GOVI is down 3.10% versus a gain of 12.47% for SPY.
Over three years, GOVI compounded at +1.45% per year against +21.18% for SPY; over five years the annualized figures are -4.09% and +12.88% respectively. Across the full 19-year window we track, SPY has the edge at +9.21% annualized vs +0.97%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 8.7% for GOVI. 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 -33.1% for GOVI and -56.4% 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 -0.06. They move largely independently of each other.
Fees and Cost Over Time
GOVI charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, GOVI currently yields 3.96% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 30 holdings in GOVI and 504 in SPY, totalling 96.8% and 100.0% 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 30 positions we hold weights for in GOVI and 504 in SPY, against full books of 31 and 505.
What only one of them owns
Measured across the 30 and 504 positions we hold weights for.
SPY holds 494 positions GOVI does not, 99.5% of the fund.
Largest: NVDA 7.71%, AAPL 6.83%, MSFT 5.50%, AMZN 4.08%, GOOGL 3.33%
You are not choosing between two funds in isolation.
Whichever of GOVI 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, GOVI or SPY?
GOVI has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, GOVI or SPY?
Over the past year GOVI returned -3.80% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), GOVI annualized +0.97% vs +9.21% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GOVI or SPY?
SPY has been the more volatile fund at 15.7% annualized versus 8.7% for GOVI. Worst drawdown: GOVI -33.1% vs SPY -56.4%.
Should I hold both GOVI and SPY?
GOVI and SPY have a monthly-return correlation of -0.06, 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, GOVI or SPY?
GOVI yields 3.96% while SPY yields 0.98%, so GOVI currently pays the higher dividend yield.
Is SPY better than GOVI?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GOVI is less concentrated, with 34.2% 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.