GPRF vs SPY
Goldman Sachs Access US Preferred Stock and Hybrid Securities ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GPRF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $132M | $789.1B | |
| Dividend Yield | 5.64% | 1.01% | |
| Holdings | 488 | 505 | |
| YTD Return | +0.24% | +13.75% | |
| 1Y Return | +2.88% | +22.91% | |
| 3Y Return (annualized) | - | +21.67% | |
| 5Y Return (annualized) | - | +13.32% | |
| Volatility (annualized) | 4.0% | 15.3% | |
| Max Drawdown | -4.2% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Jul 30, 2024 | Jan 22, 1993 |
GPRF vs SPY Performance
Goldman Sachs Access US Preferred Stock and Hybrid Securities ETF (GPRF) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GPRF returned +2.88% while SPY returned +22.91%. Year to date, GPRF is up 0.24% versus a gain of 13.75% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 4.0% for GPRF. 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 -4.2% for GPRF 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GPRF charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, GPRF currently yields 5.64% against 1.01% for SPY.
Holdings Overlap
GPRF and SPY share 19 holdings out of 911 unique holdings combined, representing a 2.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GPRF or SPY?
GPRF has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, GPRF or SPY?
Over the past year GPRF returned +2.88% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), GPRF annualized +4.69% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, GPRF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.0% for GPRF. Worst drawdown: GPRF -4.2% vs SPY -56.5%.
Should I hold both GPRF and SPY?
GPRF and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GPRF and SPY?
GPRF and SPY share 19 common holdings with a 2.9% weight overlap. Combined, they hold 911 unique securities.
Which pays a higher dividend, GPRF or SPY?
GPRF yields 5.64% while SPY yields 1.01%, so GPRF currently pays the higher dividend yield.
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