GSC vs SPY
Goldman Sachs Small Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GSC or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. GSC led over 1Y, SPY over 3Y and the full window. GSC is less concentrated, with 15.7% of the fund in its ten largest positions against 38.0%.
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 | GSC | SPY |
|---|---|---|
| Expense Ratio | 0.75% | 0.09%Best |
| AUM | $279M | $804.7B |
| Dividend Yield | 0.13% | 0.98% |
| Holdings | 99 | 505 |
| YTD Return | +15.78%Best | +12.19% |
| 1Y Return | +19.08%Best | +18.53% |
| 3Y Return (annualized) | +17.94% | +20.88%Best |
| 5Y Return (annualized) | - | +12.69% |
| Volatility (annualized) | 18.4% | 12.4%Best |
| Max Drawdown | -27.0% | -18.8%Best |
| $10,000 over 2.9 years | $16,137 | $18,460Best |
| Top 10 Weight | 15.7%Best | 38.0% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Oct 3, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Oct 5, 2023 to Sep 9, 2026 (2.9 years).
GSC 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 2.9 years both funds cover.
GSC vs SPY Performance
Goldman Sachs Small Cap Equity ETF (GSC) is an ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GSC returned +19.08% while SPY returned +18.53%. Year to date, GSC is up 15.78% versus a gain of 12.19% for SPY.
Over three years, GSC compounded at +17.94% per year against +20.88% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GSC has been the more volatile fund, with annualized monthly volatility of 18.4% compared with 12.4% 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 -27.0% for GSC and -18.8% 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 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GSC charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, GSC currently yields 0.13% against 0.98% for SPY.
Holdings Overlap
1.1% of GSC's money is in holdings SPY also owns.
GSC and SPY share little of their money.
1 positions in common, counted across the 97 positions we hold weights for in GSC and 504 in SPY, against full books of 99 and 505.
What only one of them owns
Our book lists 493 positions for SPY that do not appear in our book for GSC (99.5% of the fund), and 89 for GSC that do not appear in SPY (91.7%).
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.
Top Shared Holdings
| Stock | Weight in GSC | Weight in SPY | Difference |
|---|---|---|---|
| CRLCharles River Laboratories International Inc | 1.06% | 0.02% | 1.04% |
You are not choosing between two funds in isolation.
Whichever of GSC 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, GSC or SPY?
GSC has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, GSC or SPY?
Over the past year GSC returned +19.08% vs +18.53% for SPY, so GSC leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GSC or SPY?
GSC has been the more volatile fund at 18.4% annualized versus 12.4% for SPY. Worst drawdown: GSC -27.0% vs SPY -18.8%.
Should I hold both GSC and SPY?
GSC and SPY have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between GSC and SPY?
1.1% of GSC's money is in holdings SPY also owns. 0.0% of SPY's is in holdings GSC also owns. They hold 1 positions in common, counted across the 97 positions we hold weights for in GSC and 504 in SPY.
Which pays a higher dividend, GSC or SPY?
GSC yields 0.13% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than GSC?
SPY has a lower expense ratio. GSC led over 1Y, SPY over 3Y and the full window. GSC is less concentrated, with 15.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.