GXC vs SPY
State Street SPDR S&P China ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. GXC offers more diversification with 1231 holdings.
Side-by-Side Comparison
| Metric | GXC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.59% | 0.09% | |
| AUM | $464M | $789.1B | |
| Dividend Yield | 2.31% | 1.01% | |
| Holdings | 1,267 | 505 | |
| YTD Return | -9.22% | +14.47% | |
| 1Y Return | -4.34% | +21.96% | |
| 3Y Return (annualized) | +8.87% | +21.70% | |
| 5Y Return (annualized) | -2.81% | +13.30% | |
| Volatility (annualized) | 25.9% | 15.3% | |
| Max Drawdown | -72.3% | -56.5% | |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 19, 2007 | Jan 22, 1993 |
GXC vs SPY Performance
State Street SPDR S&P China ETF (GXC) is a ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GXC returned -4.34% while SPY returned +21.96%. Year to date, GXC is down 9.22% versus a gain of 14.47% for SPY.
Over three years, GXC compounded at +8.87% per year against +21.70% for SPY; over five years the annualized figures are -2.81% and +13.30% respectively. Across the full 19-year window we track, SPY has the edge at +8.87% annualized vs +3.34%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GXC has been the more volatile fund, with annualized monthly volatility of 25.9% 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 -72.3% for GXC 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 0.52. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GXC charges 0.59% per year while SPY charges 0.09%. On a $10,000 position that is $59 vs $9 annually, a gap of $50 per year that compounds over a long holding period. On income, GXC currently yields 2.31% against 1.01% for SPY.
Holdings Overlap
GXC and SPY share 1 holdings out of 1733 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in GXC | Weight in SPY | Difference |
|---|---|---|---|
| UNH | 0.01% | 0.59% | 0.58% |
Frequently Asked Questions
Which is cheaper, GXC or SPY?
GXC has an expense ratio of 0.59% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $50 per year of difference.
Which performed better, GXC or SPY?
Over the past year GXC returned -4.34% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), GXC annualized +3.34% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, GXC or SPY?
GXC has been the more volatile fund at 25.9% annualized versus 15.3% for SPY. Worst drawdown: GXC -72.3% vs SPY -56.5%.
Should I hold both GXC and SPY?
GXC and SPY have a monthly-return correlation of 0.52, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GXC and SPY?
GXC and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1733 unique securities.
Which pays a higher dividend, GXC or SPY?
GXC yields 2.31% while SPY yields 1.01%, so GXC currently pays the higher dividend yield.
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