GUT vs SPY
Gabelli Utility Trust (The) vs State Street SPDR S&P 500 ETF Trust
Which is better, GUT or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GUT is less concentrated, with 30.3% of the fund in its ten largest positions against 38.2%.
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 | GUT | SPY |
|---|---|---|
| Expense Ratio | 2.06% | 0.09%Best |
| AUM | $295M | $811.2B |
| Dividend Yield | 20.12% | 0.98% |
| Holdings | 215 | 1,515 |
| YTD Return | +5.52% | +13.54%Best |
| 1Y Return | +8.53% | +16.25%Best |
| 3Y Return (annualized) | +17.83% | +23.72%Best |
| 5Y Return (annualized) | +3.92% | +13.95%Best |
| Volatility (annualized) | 19.9% | 15.1%Best |
| Max Drawdown | -57.6% | -56.5%Best |
| $10,000 over 5 years | $12,120 | $19,212Best |
| Top 10 Weight | 30.3%Best | 38.2% |
| Fund Family | Gabelli Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Jul 9, 1999 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jul 12, 1999 to Oct 2, 2026 (27.2 years).
GUT 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
GUT vs SPY Performance
Gabelli Utility Trust (The) (GUT) is an ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year GUT returned +8.53% while SPY returned +16.25%. Year to date, GUT is up 5.52% versus a gain of 13.54% for SPY.
Over three years, GUT compounded at +17.83% per year against +23.72% for SPY; over five years the annualized figures are +3.92% and +13.95% respectively. Across the full 27-year window we track, SPY has the edge at +6.76% annualized vs +0.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GUT has been the more volatile fund, with annualized monthly volatility of 19.9% compared with 15.1% 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 -57.6% for GUT and -56.5% 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 0.40. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GUT charges 2.06% per year while SPY charges 0.09%. On a $10,000 position that is $206 vs $9 annually, a gap of $197 per year that compounds over a long holding period. On income, GUT currently yields 20.12% against 0.98% for SPY.
Holdings Overlap
45.9% of GUT's money is in holdings SPY also owns. 6.0% of SPY's money is in holdings GUT also owns.
The two portfolios partly overlap.
The two holdings books were reported 76 days apart, GUT as of Jun 30, 2026 and SPY as of Sep 14, 2026, so some of the difference between them is the time between the two reports rather than the funds.
50 positions in common, counted across the 196 positions we hold weights for in GUT and 504 in SPY, against full books of 215 and 1,515.
What only one of them owns
Our book lists 447 positions for SPY that do not appear in our book for GUT (93.2% of the fund), and 63 for GUT that do not appear in SPY (31.1%).
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 GUT | Weight in SPY | Difference |
|---|---|---|---|
| NEENextera Energy Inc | 4.39% | 0.26% | 4.13% |
| WECWec Energy Group Inc. | 3.70% | 0.05% | 3.65% |
| OKEOneok Inc. | 3.56% | 0.09% | 3.47% |
| XELXcel Energy Inc. | 3.18% | 0.07% | 3.11% |
| EVRGEvergy Inc. | 3.05% | 0.03% | 3.02% |
| DUKDuke Energy Corp | 2.55% | 0.14% | 2.41% |
| AEPAmerican Electric Power Co Inc | 1.92% | 0.10% | 1.82% |
| LNTAlliant Energy Corp. | 1.85% | 0.03% | 1.82% |
| ESEversource Energ | 1.84% | 0.04% | 1.80% |
| CMSCms Energy Corp. | 1.83% | 0.03% | 1.80% |
45.9% of GUT is already inside SPY.
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, GUT or SPY?
GUT has an expense ratio of 2.06% while SPY charges 0.09%. SPY is the cheaper option, by $197 a year on a $10,000 investment.
Which performed better, GUT or SPY?
Over the past year GUT returned +8.53% vs +16.25% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (27 years), GUT annualized +0.57% vs +6.76% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GUT or SPY?
GUT has been the more volatile fund at 19.9% annualized versus 15.1% for SPY. Worst drawdown: GUT -57.6% vs SPY -56.5%.
Should I hold both GUT and SPY?
GUT and SPY have a monthly-return correlation of 0.40, 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 GUT and SPY?
45.9% of GUT's money is in holdings SPY also owns. 6.0% of SPY's is in holdings GUT also owns. They hold 50 positions in common, counted across the 196 positions we hold weights for in GUT and 504 in SPY.
Which pays a higher dividend, GUT or SPY?
GUT yields 20.12% while SPY yields 0.98%, so GUT currently pays the higher dividend yield.
Is SPY better than GUT?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. GUT is less concentrated, with 30.3% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.