GARIX vs. SPY
Compare and contrast key facts about Gotham Absolute Return Fund (GARIX) and State Street SPDR S&P 500 ETF (SPY).
GARIX is managed by Gotham. It was launched on Aug 30, 2012. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
GARIX vs. SPY - Performance Comparison
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GARIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GARIX Gotham Absolute Return Fund | -1.21% | 16.18% | 20.46% | 17.70% | -5.04% | 26.87% | -6.19% | 11.50% | -4.86% | 10.01% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, GARIX achieves a -1.21% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, GARIX has underperformed SPY with an annualized return of 8.52%, while SPY has yielded a comparatively higher 13.98% annualized return.
GARIX
- 1D
- -0.42%
- 1M
- -3.77%
- YTD
- -1.21%
- 6M
- 1.41%
- 1Y
- 16.00%
- 3Y*
- 16.18%
- 5Y*
- 12.59%
- 10Y*
- 8.52%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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GARIX vs. SPY - Expense Ratio Comparison
GARIX has a 1.50% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
GARIX vs. SPY — Risk / Return Rank
GARIX
SPY
GARIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gotham Absolute Return Fund (GARIX) 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.
| GARIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.40 | 0.93 | +0.48 |
Sortino ratioReturn per unit of downside risk | 2.02 | 1.45 | +0.57 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 2.02 | 1.53 | +0.49 |
Martin ratioReturn relative to average drawdown | 10.65 | 7.30 | +3.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GARIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.40 | 0.93 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.69 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.78 | -0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.56 | +0.12 |
Correlation
The correlation between GARIX and SPY is 0.87, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GARIX vs. SPY - Dividend Comparison
GARIX's dividend yield for the trailing twelve months is around 7.26%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GARIX Gotham Absolute Return Fund | 7.26% | 7.18% | 18.74% | 5.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.36% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
GARIX vs. SPY - Drawdown Comparison
The maximum GARIX drawdown since its inception was -26.49%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GARIX and SPY.
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Drawdown Indicators
| GARIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.49% | -55.19% | +28.70% |
Max Drawdown (1Y)Largest decline over 1 year | -7.49% | -12.05% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.15% | -24.50% | +1.35% |
Max Drawdown (10Y)Largest decline over 10 years | -26.49% | -33.72% | +7.23% |
Current DrawdownCurrent decline from peak | -4.47% | -6.24% | +1.77% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -9.09% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 2.52% | -1.10% |
Volatility
GARIX vs. SPY - Volatility Comparison
The current volatility for Gotham Absolute Return Fund (GARIX) is 2.43%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that GARIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GARIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 5.31% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 6.02% | 9.47% | -3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.81% | 19.05% | -7.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 17.06% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.86% | 17.92% | -4.06% |