GUT vs SPY
Gabelli Utility Trust (The) vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | GUT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.06% | 0.09% | |
| AUM | $326M | $821.1B | |
| Dividend Yield | 19.70% | 1.01% | |
| Holdings | 204 | 505 | |
| YTD Return | +12.75% | +12.22% | |
| 1Y Return | +20.12% | +20.83% | |
| 3Y Return (annualized) | +8.81% | +21.70% | |
| 5Y Return (annualized) | +4.49% | +12.98% | |
| Volatility (annualized) | 19.8% | 15.3% | |
| Max Drawdown | -57.6% | -56.5% | |
| Fund Family | Gabelli Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 9, 1999 | Jan 22, 1993 |
GUT vs SPY Performance
Gabelli Utility Trust (The) (GUT) is a ETF from Gabelli Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GUT returned +20.12% while SPY returned +20.83%. Year to date, GUT is up 12.75% versus a gain of 12.22% for SPY.
Over three years, GUT compounded at +8.81% per year against +21.70% for SPY; over five years the annualized figures are +4.49% and +12.98% respectively. Across the full 27-year window we track, SPY has the edge at +8.79% annualized vs +0.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GUT has been the more volatile fund, with annualized monthly volatility of 19.8% 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 -57.6% for GUT 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
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 19.70% against 1.01% for SPY.
Holdings Overlap
GUT and SPY share 49 holdings out of 648 unique holdings combined, representing a 4.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $197 per year of difference.
Which performed better, GUT or SPY?
Over the past year GUT returned +20.12% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (27 years), GUT annualized +0.82% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, GUT or SPY?
GUT has been the more volatile fund at 19.8% annualized versus 15.3% 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 combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GUT and SPY?
GUT and SPY share 49 common holdings with a 4.8% weight overlap. Combined, they hold 648 unique securities.
Which pays a higher dividend, GUT or SPY?
GUT yields 19.70% while SPY yields 1.01%, so GUT currently pays the higher dividend yield.
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