GRPZ vs SPY
Invesco S&P SmallCap 600 GARP ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. GRPZ delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GRPZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $3M | $789.1B | |
| Dividend Yield | 0.90% | 1.01% | |
| Holdings | 90 | 505 | |
| YTD Return | +25.08% | +13.39% | |
| 1Y Return | +31.59% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 18.9% | 15.3% | |
| Max Drawdown | -27.9% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 27, 2024 | Jan 22, 1993 |
GRPZ vs SPY Performance
Invesco S&P SmallCap 600 GARP ETF (GRPZ) 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 GRPZ returned +31.59% while SPY returned +22.52%. Year to date, GRPZ is up 25.08% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
GRPZ has been the more volatile fund, with annualized monthly volatility of 18.9% 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 -27.9% for GRPZ 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 0.54. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GRPZ 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, GRPZ currently yields 0.90% against 1.01% for SPY.
Holdings Overlap
GRPZ and SPY share 0 holdings out of 593 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, GRPZ or SPY?
GRPZ 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, GRPZ or SPY?
Over the past year GRPZ returned +31.59% vs +22.52% for SPY, so GRPZ leads on 1-year performance. Over the longest common window we track (2 years), GRPZ annualized +13.56% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, GRPZ or SPY?
GRPZ has been the more volatile fund at 18.9% annualized versus 15.3% for SPY. Worst drawdown: GRPZ -27.9% vs SPY -56.5%.
Should I hold both GRPZ and SPY?
GRPZ and SPY have a monthly-return correlation of 0.54, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GRPZ and SPY?
GRPZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 593 unique securities.
Which pays a higher dividend, GRPZ or SPY?
GRPZ yields 0.90% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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