GAMR vs. SPY

Last updated Aug 2, 2026

GAMR (Amplify Video Game Leaders ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - GAMR is a Gaming fund tracking the VettaFi Video Game Leaders Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, GAMR returned 12.22%/yr vs 15.07%/yr for SPY. Their 0.69 correlation means they have sometimes moved together and sometimes differently. GAMR charges 0.59%/yr vs 0.09%/yr for SPY.

Performance

GAMR vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Video Game Leaders ETF (GAMR) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAMR achieves a 3.02% return, which is significantly lower than SPY's 10.13% return. Over the past 10 years, GAMR has underperformed SPY with an annualized return of 12.22%, while SPY has yielded a comparatively higher 15.07% annualized return.

GAMR

• 1D: -0.06%
• 1M: 2.45%
• 6M: 8.06%
• YTD: 3.02%
• 1Y: 6.41%
• 3Y*: 14.92%
• 5Y*: 0.86%
• 10Y*: 12.22%
• ALL TIME*: 13.42%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GAMR Amplify Video Game Leaders ETF	$69.51K	$68.28K	$108.93K
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

GAMR vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GAMR Amplify Video Game Leaders ETF	3.02%	39.20%	11.23%	6.89%	-36.96%	11.31%	76.83%	14.76%	-18.82%	59.47%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between GAMR and SPY is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Mar 10, 2016	0.69

The correlation between GAMR and SPY shifts across timeframes, from 0.69 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

GAMR vs. SPY - Sectors Allocation Comparison

Sectors	GAMR	SPY
Technology	66.2%	36.9%
Communication Services	19.6%	9.7%
Consumer Cyclical	11.2%	8.9%
Financial Services	0.6%	12.5%
Basic Materials	-	1.9%
Consumer Defensive	-	4.8%
Energy	-	3.4%
Healthcare	-	9.4%
Industrials	-	7.6%
Real Estate	-	2.0%
Utilities	-	2.6%

Return for Risk

GAMR vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GAMR

GAMR Risk / Return Rank: 15
GAMR Sharpe Ratio Rank: 15
GAMR Sortino Ratio Rank: 15
GAMR Omega Ratio Rank: 15
GAMR Calmar Ratio Rank: 13
GAMR Martin Ratio Rank: 13

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GAMR vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Video Game Leaders ETF (GAMR) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GAMR	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.52	-1.32
Sortino ratio: Return per unit of downside risk	0.44	2.11	-1.68
Omega ratio: Gain probability vs. loss probability	1.05	1.27	-0.22
Calmar ratio: Return relative to maximum drawdown	0.16	2.20	-2.04
Martin ratio: Return relative to average drawdown	0.35	9.40	-9.05

GAMR vs. SPY - Sharpe Ratio Comparison

The current GAMR Sharpe Ratio is 0.20, which is lower than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of GAMR and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GAMR vs. SPY - Drawdown Comparison

The maximum GAMR drawdown since its inception was -55.37%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GAMR and SPY.

Drawdown Indicators

	GAMR	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-55.37%	-55.19%	-0.18%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-8.88%	-20.48%
Max Drawdown (3Y) Largest decline over 3 years	-29.36%	-18.76%	-10.60%
Max Drawdown (5Y) Largest decline over 5 years	-50.57%	-24.50%	-26.07%
Max Drawdown (10Y) Largest decline over 10 years	-55.37%	-33.72%	-21.65%
Current Drawdown Current decline from peak	-14.16%	-1.40%	-12.76%
Average Drawdown Average peak-to-trough decline	-22.03%	-9.01%	-13.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.55%	2.08%	+11.47%

Volatility

GAMR vs. SPY - Volatility Comparison

Amplify Video Game Leaders ETF (GAMR) has a higher volatility of 6.33% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that GAMR's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAMR	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	3.58%	+2.75%
Volatility (6M) Calculated over the trailing 6-month period	19.39%	10.14%	+9.25%
Volatility (1Y) Calculated over the trailing 1-year period	23.84%	12.89%	+10.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	17.18%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.38%	17.95%	+6.43%

GAMR vs. SPY - Expense Ratio Comparison

GAMR has a 0.59% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

GAMR vs. SPY - Dividend Comparison

GAMR's dividend yield for the trailing twelve months is around 0.50%, less than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAMR Amplify Video Game Leaders ETF	0.50%	0.52%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both GAMR and SPY in my portfolio?

GAMR and SPY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAMR or SPY?

GAMR has higher volatility (6.33%) compared to SPY (3.58%). In terms of maximum drawdown, GAMR dropped -55.37% vs SPY's -55.19%.

Which ETF is better, GAMR or SPY?

On 10-year performance, SPY leads with 15.07% vs 12.22% for GAMR. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAMR or SPY?

Over the 10-year period, SPY has performed better with a 15.07% return vs 12.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAMR or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.59% for GAMR.

Which ETF pays a higher dividend yield, GAMR or SPY?

SPY has the higher dividend yield at 1.01%, compared with 0.50% for GAMR.

What is the main difference between GAMR and SPY?

GAMR is categorized as Gaming, while SPY is S&P 500. GAMR tracks VettaFi Video Game Leaders Index, while SPY tracks S&P 500 Index. They also come from different issuers: Amplify and State Street. Their fees differ too: 0.59% for GAMR and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.