GRIN vs SPY
VictoryShares International Free Cash Flow Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GRIN delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GRIN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.09% | |
| AUM | $274M | $789.1B | |
| Dividend Yield | 0.23% | 1.01% | |
| Holdings | 105 | 505 | |
| YTD Return | +20.66% | +13.39% | |
| 1Y Return | +31.99% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 19.5% | 15.3% | |
| Max Drawdown | -14.3% | -56.5% | |
| Fund Family | Victory Capital Management Inc. | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 25, 2025 | Jan 22, 1993 |
GRIN vs SPY Performance
VictoryShares International Free Cash Flow Growth ETF (GRIN) is a ETF from Victory Capital Management Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GRIN returned +31.99% while SPY returned +22.52%. Year to date, GRIN is up 20.66% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
GRIN has been the more volatile fund, with annualized monthly volatility of 19.5% 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 -14.3% for GRIN 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 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GRIN 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, GRIN currently yields 0.23% against 1.01% for SPY.
Holdings Overlap
GRIN and SPY share 1 holdings out of 603 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in GRIN | Weight in SPY | Difference |
|---|---|---|---|
| ICE | 1.72% | 0.12% | 1.60% |
Frequently Asked Questions
Which is cheaper, GRIN or SPY?
GRIN 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, GRIN or SPY?
Over the past year GRIN returned +31.99% vs +22.52% for SPY, so GRIN leads on 1-year performance. Over the longest common window we track (1 years), GRIN annualized +28.72% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, GRIN or SPY?
GRIN has been the more volatile fund at 19.5% annualized versus 15.3% for SPY. Worst drawdown: GRIN -14.3% vs SPY -56.5%.
Should I hold both GRIN and SPY?
GRIN and SPY have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GRIN and SPY?
GRIN and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 603 unique securities.
Which pays a higher dividend, GRIN or SPY?
GRIN yields 0.23% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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