GREK vs SPY
Global X MSCI Greece ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GREK delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GREK | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $289M | $789.1B | |
| Dividend Yield | 2.60% | 1.01% | |
| Holdings | 34 | 505 | |
| YTD Return | +22.86% | +14.47% | |
| 1Y Return | +26.64% | +21.96% | |
| 3Y Return (annualized) | +35.01% | +21.70% | |
| 5Y Return (annualized) | +28.22% | +13.30% | |
| Volatility (annualized) | 33.4% | 15.3% | |
| Max Drawdown | -81.7% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 7, 2011 | Jan 22, 1993 |
GREK vs SPY Performance
Global X MSCI Greece ETF (GREK) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GREK returned +26.64% while SPY returned +21.96%. Year to date, GREK is up 22.86% versus a gain of 14.47% for SPY.
Over three years, GREK compounded at +35.01% per year against +21.70% for SPY; over five years the annualized figures are +28.22% and +13.30% respectively. Across the full 15-year window we track, SPY has the edge at +8.87% annualized vs +5.48%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GREK has been the more volatile fund, with annualized monthly volatility of 33.4% 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 -81.7% for GREK 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 0.52. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GREK charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, GREK currently yields 2.60% against 1.01% for SPY.
Holdings Overlap
GREK and SPY share 0 holdings out of 534 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GREK or SPY?
GREK has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, GREK or SPY?
Over the past year GREK returned +26.64% vs +21.96% for SPY, so GREK leads on 1-year performance. Over the longest common window we track (15 years), GREK annualized +5.48% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, GREK or SPY?
GREK has been the more volatile fund at 33.4% annualized versus 15.3% for SPY. Worst drawdown: GREK -81.7% vs SPY -56.5%.
Should I hold both GREK and SPY?
GREK and SPY have a monthly-return correlation of 0.52, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GREK and SPY?
GREK and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 534 unique securities.
Which pays a higher dividend, GREK or SPY?
GREK yields 2.60% while SPY yields 1.01%, so GREK currently pays the higher dividend yield.
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