GSIE vs SPY
Goldman Sachs ActiveBeta International Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GSIE or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window. GSIE is less concentrated, with 10.6% 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 | GSIE | SPY |
|---|---|---|
| Expense Ratio | 0.25% | 0.09%Best |
| AUM | $6.1B | $804.7B |
| Dividend Yield | 2.45% | 0.98% |
| Holdings | 673 | 505 |
| YTD Return | +11.47% | +12.47%Best |
| 1Y Return | +17.51%Tie | +17.51%Tie |
| 3Y Return (annualized) | +18.42% | +21.18%Best |
| 5Y Return (annualized) | +8.60% | +12.88%Best |
| Volatility (annualized) | 14.4%Best | 15.1% |
| Max Drawdown | -37.2% | -34.1%Best |
| $10,000 over 5 years | $15,106 | $18,327Best |
| Top 10 Weight | 10.6%Best | 38.0% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 6, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 10, 2015 to Sep 11, 2026 (10.8 years).
GSIE 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 10.8 years both funds cover.
GSIE vs SPY Performance
Goldman Sachs ActiveBeta International Equity ETF (GSIE) 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 GSIE returned +17.51% while SPY returned +17.51%. Year to date, GSIE is up 11.47% versus a gain of 12.47% for SPY.
Over three years, GSIE compounded at +18.42% per year against +21.18% for SPY; over five years the annualized figures are +8.60% and +12.88% respectively. Across the full 11-year window we track, SPY has the edge at +13.51% annualized vs +7.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.4% 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 -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 0.84. 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 2.45% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 640 holdings in GSIE and 504 in SPY, totalling 98.3% and 100.0% 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 640 positions we hold weights for in GSIE and 504 in SPY, against full books of 673 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for GSIE (99.5% of the fund), and 9 for GSIE that do not appear in SPY (1.4%).
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 GSIE 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, GSIE or SPY?
GSIE has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option, by $16 a year on a $10,000 investment.
Which performed better, GSIE or SPY?
Over the past year GSIE returned +17.51% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (11 years), GSIE annualized +7.73% vs +13.51% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GSIE or SPY?
SPY has been the more volatile fund at 15.1% annualized versus 14.4% for GSIE. Worst drawdown: GSIE -37.2% vs SPY -34.1%.
Should I hold both GSIE and SPY?
GSIE and SPY have a monthly-return correlation of 0.84, 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, GSIE or SPY?
GSIE yields 2.45% while SPY yields 0.98%, so GSIE currently pays the higher dividend yield.
Is SPY better than GSIE?
SPY has a lower expense ratio. SPY led over 3Y, 5Y and the full window. GSIE is less concentrated, with 10.6% 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.