GUSA vs SPY
Goldman Sachs MarketBeta US 1000 Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, GUSA or SPY?
Nearly the same fund. SPY costs less.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 1.00. GUSA is less concentrated, with 34.4% 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 | GUSA | SPY |
|---|---|---|
| Expense Ratio | 0.10% | 0.09%Best |
| AUM | $2.4B | $804.7B |
| Dividend Yield | 0.99% | 0.98% |
| Holdings | 1,009 | 505 |
| YTD Return | +11.41% | +11.52%Best |
| 1Y Return | +16.82% | +17.48%Best |
| 3Y Return (annualized) | +20.17% | +20.62%Best |
| 5Y Return (annualized) | - | +12.73% |
| Volatility (annualized) | 15.4% | 15.2%Best |
| Max Drawdown | -19.6% | -19.2%Best |
| $10,000 over 4.4 years | $17,888 | $18,284Best |
| Top 10 Weight | 34.4%Best | 38.0% |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 5, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Apr 12, 2022 to Sep 10, 2026 (4.4 years).
GUSA 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 4.4 years both funds cover.
GUSA vs SPY Performance
Goldman Sachs MarketBeta US 1000 Equity ETF (GUSA) 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 GUSA returned +16.82% while SPY returned +17.48%. Year to date, GUSA is up 11.41% versus a gain of 11.52% for SPY.
Over three years, GUSA compounded at +20.17% per year against +20.62% for SPY. Across the full 4-year window we track, SPY has the edge at +14.70% annualized vs +14.13%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GUSA has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.2% 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 -19.6% for GUSA and -19.2% 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
GUSA charges 0.10% per year while SPY charges 0.09%. On a $10,000 position that is $10 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, GUSA currently yields 0.99% against 0.98% for SPY.
Holdings Overlap
91.0% of GUSA's money is in holdings SPY also owns. 99.0% of SPY's money is in holdings GUSA also owns.
Most of SPY is already inside GUSA. Owning both mostly buys the same companies twice.
473 positions in common, counted across the 881 positions we hold weights for in GUSA and 504 in SPY, against full books of 1,009 and 505.
What only one of them owns
Our book lists 27 positions for SPY that do not appear in our book for GUSA (0.8% of the fund), and 349 for GUSA that do not appear in SPY (6.7%).
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 GUSA | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.30% | 7.71% | 0.41% |
| AAPLApple, Inc | 6.09% | 6.83% | 0.74% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.91% | 5.50% | 0.59% |
| AMZNAmazon.Com Inc | 3.50% | 4.08% | 0.58% |
| GOOGLAlphabet A Usd 0.001 | 2.80% | 3.33% | 0.53% |
| AVGOBroadcom Inc | 2.55% | 2.97% | 0.42% |
| GOOGAlphabet Inc | 2.42% | 2.67% | 0.25% |
| METAMeta Platforms, Inc. | 1.74% | 1.94% | 0.20% |
| MUMicron Technology, Inc. | 1.59% | 1.51% | 0.08% |
| TSLATesla Inc | 1.45% | 1.38% | 0.07% |
99.0% of SPY is already inside GUSA.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, GUSA or SPY?
GUSA has an expense ratio of 0.10% while SPY charges 0.09%. SPY is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, GUSA or SPY?
Over the past year GUSA returned +16.82% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), GUSA annualized +14.13% vs +14.70% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GUSA or SPY?
GUSA has been the more volatile fund at 15.4% annualized versus 15.2% for SPY. Worst drawdown: GUSA -19.6% vs SPY -19.2%.
Should I hold both GUSA and SPY?
GUSA and SPY have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between GUSA and SPY?
99.0% of SPY's money is in holdings GUSA also owns. 99.0% of SPY's is in holdings GUSA also owns. They hold 473 positions in common, counted across the 881 positions we hold weights for in GUSA and 504 in SPY.
Which pays a higher dividend, GUSA or SPY?
GUSA yields 0.99% while SPY yields 0.98%, so GUSA currently pays the higher dividend yield.
Is SPY better than GUSA?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 1.00. GUSA is less concentrated, with 34.4% 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.