GUG vs SPY
Guggenheim Active Allocation Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. GUG offers more diversification with 777 holdings.
Side-by-Side Comparison
| Metric | GUG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.22% | 0.09% | |
| AUM | $539M | $789.1B | |
| Dividend Yield | 8.61% | 1.01% | |
| Holdings | 1,262 | 505 | |
| YTD Return | +5.71% | +14.47% | |
| 1Y Return | +7.23% | +21.96% | |
| 3Y Return (annualized) | +12.89% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 15.5% | 15.3% | |
| Max Drawdown | -32.8% | -56.5% | |
| Fund Family | Guggenheim Investments | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 23, 2021 | Jan 22, 1993 |
GUG vs SPY Performance
Guggenheim Active Allocation Fund (GUG) is a ETF from Guggenheim Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GUG returned +7.23% while SPY returned +21.96%. Year to date, GUG is up 5.71% versus a gain of 14.47% for SPY.
Over three years, GUG compounded at +12.89% per year against +21.70% for SPY. Across the full 5-year window we track, SPY has the edge at +8.87% annualized vs +3.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GUG has been the more volatile fund, with annualized monthly volatility of 15.5% 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 -32.8% for GUG 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
GUG charges 2.22% per year while SPY charges 0.09%. On a $10,000 position that is $222 vs $9 annually, a gap of $213 per year that compounds over a long holding period. On income, GUG currently yields 8.61% against 1.01% for SPY.
Holdings Overlap
GUG and SPY share 39 holdings out of 1241 unique holdings combined, representing a 2.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GUG or SPY?
GUG has an expense ratio of 2.22% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $213 per year of difference.
Which performed better, GUG or SPY?
Over the past year GUG returned +7.23% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), GUG annualized +3.55% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, GUG or SPY?
GUG has been the more volatile fund at 15.5% annualized versus 15.3% for SPY. Worst drawdown: GUG -32.8% vs SPY -56.5%.
Should I hold both GUG and SPY?
GUG and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GUG and SPY?
GUG and SPY share 39 common holdings with a 2.9% weight overlap. Combined, they hold 1241 unique securities.
Which pays a higher dividend, GUG or SPY?
GUG yields 8.61% while SPY yields 1.01%, so GUG currently pays the higher dividend yield.
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