GUG vs SPY
Guggenheim Active Allocation Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, GUG or SPY?
Allocation/Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window.
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 | GUG | SPY |
|---|---|---|
| Expense Ratio | 2.22% | 0.09%Best |
| AUM | $542M | $814.4B |
| Dividend Yield | 8.71% | 1.01% |
| Holdings | 1,262 | 505 |
| YTD Return | +7.02% | +13.34%Best |
| 1Y Return | +4.54% | +19.97%Best |
| 3Y Return (annualized) | +13.58% | +21.20%Best |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 15.4%Best | 15.7% |
| Max Drawdown | -32.8% | -24.5%Best |
| $10,000 over 4.8 years | $11,949 | $17,541Best |
| Fund Family | Guggenheim Investments | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Allocation/Balanced | Large Cap Blend |
| Inception | Nov 23, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.8 years row, are measured over the window both funds cover: Nov 24, 2021 to Sep 4, 2026 (4.8 years).
GUG 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 4.8 years both funds cover.
GUG vs SPY Performance
Guggenheim Active Allocation Fund (GUG) is an ETF from Guggenheim Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GUG returned +4.54% while SPY returned +19.97%. Year to date, GUG is up 7.02% versus a gain of 13.34% for SPY.
Over three years, GUG compounded at +13.58% per year against +21.20% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.4% for GUG. 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 -24.5% 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 0.79. 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 8.71% against 1.01% for SPY.
Holdings Overlap
At least 7.2% of SPY's money is in holdings GUG also owns.
Stated as a floor: for GUG, our book for it covers 62.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and GUG share little of their money.
The two holdings books were reported 247 days apart, GUG as of Nov 30, 2025 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
40 positions in common, counted across the 777 positions we hold weights for in GUG and 504 in SPY, against full books of 1,262 and 505.
Top Shared Holdings
| Stock | Weight in GUG | Weight in SPY | Difference |
|---|---|---|---|
| JPMJpmorgan Chase | 0.25% | 1.44% | 1.19% |
| GSGoldman Sachs Group Inc/The | 0.89% | 0.47% | 0.42% |
| LLYEli Lilly & Co. | 0.00% | 1.33% | 1.33% |
| CCitigroup Inc. | 0.88% | 0.35% | 0.53% |
| BACBank Of America Corp. | 0.43% | 0.62% | 0.19% |
| BKBank Of New York Mellon Corp | 0.88% | 0.16% | 0.72% |
| WFCWells Fargo & Co. | 0.44% | 0.41% | 0.03% |
| ABBVAbbvie Inc. | 0.00% | 0.65% | 0.65% |
| NEENextera Energy Inc | 0.08% | 0.27% | 0.19% |
| DISWalt Disney Co | 0.04% | 0.26% | 0.22% |
You are not choosing between two funds in isolation.
Whichever of GUG 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, GUG or SPY?
GUG has an expense ratio of 2.22% while SPY charges 0.09%. SPY is the cheaper option, by $213 a year on a $10,000 investment.
Which performed better, GUG or SPY?
Over the past year GUG returned +4.54% vs +19.97% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GUG or SPY?
SPY has been the more volatile fund at 15.7% annualized versus 15.4% for GUG. Worst drawdown: GUG -32.8% vs SPY -24.5%.
Should I hold both GUG and SPY?
GUG and SPY have a monthly-return correlation of 0.79, 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 GUG and SPY?
At least 7.2% of SPY's money is in holdings GUG also owns. Our book for GUG is partial, so the real figure is this or higher. They hold 40 positions in common, counted across the 777 positions we hold weights for in GUG and 504 in SPY.
Which pays a higher dividend, GUG or SPY?
GUG yields 8.71% while SPY yields 1.01%, so GUG currently pays the higher dividend yield.
Is SPY better than GUG?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.