QLTI vs SPY
GMO International Quality ETF 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 | QLTI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.60% | 0.09% | |
| AUM | $298M | $821.1B | |
| Dividend Yield | 0.60% | 1.01% | |
| Holdings | 38 | 505 | |
| YTD Return | +3.74% | +12.22% | |
| 1Y Return | +9.40% | +20.83% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +12.98% | |
| Volatility (annualized) | 13.1% | 15.3% | |
| Max Drawdown | -14.8% | -56.5% | |
| Fund Family | GMO | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 28, 2024 | Jan 22, 1993 |
QLTI vs SPY Performance
GMO International Quality ETF (QLTI) is a ETF from GMO and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year QLTI returned +9.40% while SPY returned +20.83%. Year to date, QLTI is up 3.74% versus a gain of 12.22% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 13.1% for QLTI. 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 -14.8% for QLTI 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 0.49. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
QLTI charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, QLTI currently yields 0.60% against 1.01% for SPY.
Holdings Overlap
QLTI and SPY share 0 holdings out of 540 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, QLTI or SPY?
QLTI has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $51 per year of difference.
Which performed better, QLTI or SPY?
Over the past year QLTI returned +9.40% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), QLTI annualized +6.55% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, QLTI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.1% for QLTI. Worst drawdown: QLTI -14.8% vs SPY -56.5%.
Should I hold both QLTI and SPY?
QLTI and SPY have a monthly-return correlation of 0.49, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between QLTI and SPY?
QLTI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 540 unique securities.
Which pays a higher dividend, QLTI or SPY?
QLTI yields 0.60% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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