GRPM vs SPY
Invesco S&P MidCap 400 GARP ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GRPM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GRPM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $484M | $789.1B | |
| Dividend Yield | 0.73% | 1.01% | |
| Holdings | 60 | 505 | |
| YTD Return | +18.85% | +13.39% | |
| 1Y Return | +28.00% | +22.52% | |
| 3Y Return (annualized) | +16.58% | +21.36% | |
| 5Y Return (annualized) | +10.12% | +13.19% | |
| Volatility (annualized) | 18.4% | 15.3% | |
| Max Drawdown | -44.5% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 3, 2010 | Jan 22, 1993 |
GRPM vs SPY Performance
Invesco S&P MidCap 400 GARP ETF (GRPM) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GRPM returned +28.00% while SPY returned +22.52%. Year to date, GRPM is up 18.85% versus a gain of 13.39% for SPY.
Over three years, GRPM compounded at +16.58% per year against +21.36% for SPY; over five years the annualized figures are +10.12% and +13.19% respectively. Across the full 16-year window we track, GRPM has the edge at +10.84% annualized vs +8.84%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GRPM has been the more volatile fund, with annualized monthly volatility of 18.4% 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 -44.5% for GRPM 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GRPM charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, GRPM currently yields 0.73% against 1.01% for SPY.
Holdings Overlap
GRPM and SPY share 0 holdings out of 563 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, GRPM or SPY?
GRPM has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, GRPM or SPY?
Over the past year GRPM returned +28.00% vs +22.52% for SPY, so GRPM leads on 1-year performance. Over the longest common window we track (16 years), GRPM annualized +10.84% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, GRPM or SPY?
GRPM has been the more volatile fund at 18.4% annualized versus 15.3% for SPY. Worst drawdown: GRPM -44.5% vs SPY -56.5%.
Should I hold both GRPM and SPY?
GRPM and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GRPM and SPY?
GRPM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 563 unique securities.
Which pays a higher dividend, GRPM or SPY?
GRPM yields 0.73% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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