GSIE vs SPY
Goldman Sachs ActiveBeta International Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. GSIE offers more diversification with 673 holdings.
Side-by-Side Comparison
| Metric | GSIE | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $6.1B | $821.1B | |
| Dividend Yield | 2.50% | 1.01% | |
| Holdings | 673 | 505 | |
| YTD Return | +13.11% | +12.68% | |
| 1Y Return | +21.44% | +21.82% | |
| 3Y Return (annualized) | +19.52% | +21.98% | |
| 5Y Return (annualized) | +9.27% | +12.89% | |
| Volatility (annualized) | 14.5% | 15.3% | |
| Max Drawdown | -37.2% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 6, 2015 | Jan 22, 1993 |
GSIE vs SPY Performance
Goldman Sachs ActiveBeta International Equity ETF (GSIE) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GSIE returned +21.44% while SPY returned +21.82%. Year to date, GSIE is up 13.11% versus a gain of 12.68% for SPY.
Over three years, GSIE compounded at +19.52% per year against +21.98% for SPY; over five years the annualized figures are +9.27% and +12.89% respectively. Across the full 11-year window we track, SPY has the edge at +8.81% annualized vs +7.92%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.5% for GSIE. 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 -37.2% for GSIE 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GSIE charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, GSIE currently yields 2.50% against 1.01% for SPY.
Holdings Overlap
GSIE and SPY share 0 holdings out of 1143 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, GSIE or SPY?
GSIE has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, GSIE or SPY?
Over the past year GSIE returned +21.44% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), GSIE annualized +7.92% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, GSIE or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.5% for GSIE. Worst drawdown: GSIE -37.2% vs SPY -56.5%.
Should I hold both GSIE and SPY?
GSIE and SPY have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GSIE and SPY?
GSIE and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1143 unique securities.
Which pays a higher dividend, GSIE or SPY?
GSIE yields 2.50% while SPY yields 1.01%, so GSIE currently pays the higher dividend yield.
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