GRX vs SPY
The Gabelli Healthcare & Wellness RX Trust vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GRX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 3.00% | 0.09% | |
| AUM | $226M | $789.1B | |
| Dividend Yield | 6.46% | 1.01% | |
| Holdings | 194 | 505 | |
| YTD Return | +6.93% | +13.75% | |
| 1Y Return | +18.40% | +22.91% | |
| 3Y Return (annualized) | +7.37% | +21.67% | |
| 5Y Return (annualized) | +0.50% | +13.32% | |
| Volatility (annualized) | 18.6% | 15.3% | |
| Max Drawdown | -65.0% | -56.5% | |
| Fund Family | Gabelli Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 19, 2007 | Jan 22, 1993 |
GRX vs SPY Performance
The Gabelli Healthcare & Wellness RX Trust (GRX) is a ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GRX returned +18.40% while SPY returned +22.91%. Year to date, GRX is up 6.93% versus a gain of 13.75% for SPY.
Over three years, GRX compounded at +7.37% per year against +21.67% for SPY; over five years the annualized figures are +0.50% and +13.32% respectively. Across the full 19-year window we track, SPY has the edge at +8.85% annualized vs +3.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GRX has been the more volatile fund, with annualized monthly volatility of 18.6% 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 -65.0% for GRX 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GRX charges 3.00% per year while SPY charges 0.09%. On a $10,000 position that is $300 vs $9 annually, a gap of $291 per year that compounds over a long holding period. On income, GRX currently yields 6.46% against 1.01% for SPY.
Holdings Overlap
GRX and SPY share 46 holdings out of 632 unique holdings combined, representing a 7.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GRX or SPY?
GRX has an expense ratio of 3.00% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $291 per year of difference.
Which performed better, GRX or SPY?
Over the past year GRX returned +18.40% vs +22.91% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), GRX annualized +3.07% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, GRX or SPY?
GRX has been the more volatile fund at 18.6% annualized versus 15.3% for SPY. Worst drawdown: GRX -65.0% vs SPY -56.5%.
Should I hold both GRX and SPY?
GRX and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GRX and SPY?
GRX and SPY share 46 common holdings with a 7.8% weight overlap. Combined, they hold 632 unique securities.
Which pays a higher dividend, GRX or SPY?
GRX yields 6.46% while SPY yields 1.01%, so GRX currently pays the higher dividend yield.
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