GRPM vs SPY
Invesco S&P MidCap 400 GARP ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GRPM or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GRPM is less concentrated, with 26.4% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | GRPM | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $507M | $804.7B |
| Dividend Yield | 0.65% | 0.98% |
| Holdings | 62 | 505 |
| YTD Return | +16.01%Best | +12.22% |
| 1Y Return | +16.71% | +16.97%Best |
| 3Y Return (annualized) | +17.39% | +21.16%Best |
| 5Y Return (annualized) | +10.08% | +13.00%Best |
| Volatility (annualized) | 18.4% | 14.1%Best |
| Max Drawdown | -44.5% | -34.1%Best |
| $10,000 over 5 years | $16,164 | $18,424Best |
| Top 10 Weight | 26.4%Best | 37.8% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Dec 3, 2010 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 8, 2010 to Sep 17, 2026 (15.8 years).
GRPM vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 15.8 years both funds cover.
GRPM vs SPY Performance
Invesco S&P MidCap 400 GARP ETF (GRPM) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GRPM returned +16.71% while SPY returned +16.97%. Year to date, GRPM is up 16.01% versus a gain of 12.22% for SPY.
Over three years, GRPM compounded at +17.39% per year against +21.16% for SPY; over five years the annualized figures are +10.08% and +13.00% respectively. Across the full 16-year window we track, SPY has the edge at +12.77% annualized vs +10.60%.
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 14.1% 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 -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.65% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 61 holdings in GRPM and 504 in SPY, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 61 positions we hold weights for in GRPM and 504 in SPY, against full books of 62 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for GRPM (99.3% of the fund), and 60 for GRPM that do not appear in SPY (97.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of GRPM and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $26 a year on a $10,000 investment.
Which performed better, GRPM or SPY?
Over the past year GRPM returned +16.71% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (16 years), GRPM annualized +10.60% vs +12.77% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GRPM or SPY?
GRPM has been the more volatile fund at 18.4% annualized versus 14.1% for SPY. Worst drawdown: GRPM -44.5% vs SPY -34.1%.
Should I hold both GRPM and SPY?
GRPM and SPY have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, GRPM or SPY?
GRPM yields 0.65% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than GRPM?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GRPM is less concentrated, with 26.4% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.