GQRE vs SPY
FlexShares Global Quality Real Estate Index Fund 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 505 holdings.
Side-by-Side Comparison
| Metric | GQRE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $421M | $821.1B | |
| Dividend Yield | 4.18% | 1.01% | |
| Holdings | 197 | 505 | |
| YTD Return | +10.58% | +12.22% | |
| 1Y Return | +11.55% | +20.83% | |
| 3Y Return (annualized) | +12.46% | +21.70% | |
| 5Y Return (annualized) | +2.12% | +12.98% | |
| Volatility (annualized) | 15.6% | 15.3% | |
| Max Drawdown | -42.0% | -56.5% | |
| Fund Family | Flexshares Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 5, 2013 | Jan 22, 1993 |
GQRE vs SPY Performance
FlexShares Global Quality Real Estate Index Fund (GQRE) is a ETF from Flexshares Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GQRE returned +11.55% while SPY returned +20.83%. Year to date, GQRE is up 10.58% versus a gain of 12.22% for SPY.
Over three years, GQRE compounded at +12.46% per year against +21.70% for SPY; over five years the annualized figures are +2.12% and +12.98% respectively. Across the full 13-year window we track, SPY has the edge at +8.79% annualized vs +3.41%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GQRE has been the more volatile fund, with annualized monthly volatility of 15.6% 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 -42.0% for GQRE 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GQRE 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, GQRE currently yields 4.18% against 1.01% for SPY.
Holdings Overlap
GQRE and SPY share 15 holdings out of 625 unique holdings combined, representing a 1.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GQRE or SPY?
GQRE 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, GQRE or SPY?
Over the past year GQRE returned +11.55% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), GQRE annualized +3.41% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, GQRE or SPY?
GQRE has been the more volatile fund at 15.6% annualized versus 15.3% for SPY. Worst drawdown: GQRE -42.0% vs SPY -56.5%.
Should I hold both GQRE and SPY?
GQRE and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GQRE and SPY?
GQRE and SPY share 15 common holdings with a 1.3% weight overlap. Combined, they hold 625 unique securities.
Which pays a higher dividend, GQRE or SPY?
GQRE yields 4.18% while SPY yields 1.01%, so GQRE currently pays the higher dividend yield.
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