GSPY vs. AVIE

Last updated Jun 26, 2026

GSPY (Gotham Enhanced 500 ETF) and AVIE (Avantis Inflation Focused Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, GSPY returned 20.74%/yr vs 13.13%/yr for AVIE. A 0.54 correlation means they provide meaningful diversification when combined. GSPY charges 0.50%/yr vs 0.25%/yr for AVIE.

Performance

GSPY vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Enhanced 500 ETF (GSPY) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSPY achieves a 8.27% return, which is significantly lower than AVIE's 13.40% return.

GSPY

• 1D: -0.02%
• 1M: -1.94%
• YTD: 8.27%
• 6M: 7.08%
• 1Y: 23.11%
• 3Y*: 20.74%
• 5Y*: 12.94%
• 10Y*: —

AVIE

• 1D: 0.68%
• 1M: 0.06%
• YTD: 13.40%
• 6M: 12.80%
• 1Y: 24.46%
• 3Y*: 13.13%
• 5Y*: —
• 10Y*: —

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

GSPY vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GSPY Gotham Enhanced 500 ETF	8.27%	18.28%	23.58%	26.01%	3.68%
AVIE Avantis Inflation Focused Equity ETF	13.40%	11.37%	6.17%	4.19%	15.20%

Correlation

The correlation between GSPY and AVIE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Sep 29, 2022	0.54

Over the past year, the correlation between GSPY and AVIE has dropped to 0.27 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

GSPY vs. AVIE - Sectors Allocation Comparison

Sectors	GSPY	AVIE
Technology	38.5%	0.1%
Financial Services	11.4%	15.0%
Consumer Cyclical	11.0%	0.1%
Communication Services	10.1%	-
Healthcare	8.8%	26.3%
Industrials	8.0%	1.1%
Consumer Defensive	5.6%	17.1%
Energy	2.7%	30.1%
Real Estate	2.1%	0.1%
Basic Materials	1.2%	9.8%
Utilities	0.7%	0.1%

Return for Risk

GSPY vs. AVIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GSPY

GSPY Risk / Return Rank: 64
GSPY Sharpe Ratio Rank: 63
GSPY Sortino Ratio Rank: 58
GSPY Omega Ratio Rank: 62
GSPY Calmar Ratio Rank: 63
GSPY Martin Ratio Rank: 72

AVIE

AVIE Risk / Return Rank: 87
AVIE Sharpe Ratio Rank: 87
AVIE Sortino Ratio Rank: 88
AVIE Omega Ratio Rank: 83
AVIE Calmar Ratio Rank: 90
AVIE Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GSPY vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Enhanced 500 ETF (GSPY) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	GSPY	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.47	-0.66
Sortino ratio: Return per unit of downside risk	2.42	3.52	-1.10
Omega ratio: Gain probability vs. loss probability	1.33	1.43	-0.10
Calmar ratio: Return relative to maximum drawdown	2.69	4.95	-2.25
Martin ratio: Return relative to average drawdown	11.64	14.94	-3.31

GSPY vs. AVIE - Sharpe Ratio Comparison

The current GSPY Sharpe Ratio is 1.81, which is comparable to the AVIE Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of GSPY and AVIE, 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

GSPY vs. AVIE - Drawdown Comparison

The maximum GSPY drawdown since its inception was -23.30%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for GSPY and AVIE.

Drawdown Indicators

	GSPY	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-23.30%	-12.39%	-10.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-4.97%	-3.65%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-12.39%	-6.28%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	—	—
Current Drawdown Current decline from peak	-3.27%	-1.40%	-1.87%
Average Drawdown Average peak-to-trough decline	-4.72%	-3.00%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.64%	+0.35%

Volatility

GSPY vs. AVIE - Volatility Comparison

Gotham Enhanced 500 ETF (GSPY) has a higher volatility of 4.41% compared to Avantis Inflation Focused Equity ETF (AVIE) at 2.79%. This indicates that GSPY's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSPY	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	2.79%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	7.05%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	9.99%	+2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.64%	12.89%	+3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.33%	12.89%	+3.44%

GSPY vs. AVIE - Expense Ratio Comparison

GSPY has a 0.50% expense ratio, which is higher than AVIE's 0.25% expense ratio.

Dividends

GSPY vs. AVIE - Dividend Comparison

GSPY's dividend yield for the trailing twelve months is around 2.41%, more than AVIE's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIE Avantis Inflation Focused Equity ETF	1.46%	1.75%	1.89%	3.72%	0.39%	0.00%
GSPY Gotham Enhanced 500 ETF	2.41%	2.61%	0.84%	1.06%	1.25%	0.23%

Frequently Asked Questions

Can I hold both GSPY and AVIE in my portfolio?

GSPY and AVIE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSPY or AVIE?

GSPY has higher volatility (4.41%) compared to AVIE (2.79%). In terms of maximum drawdown, GSPY dropped -23.30% vs AVIE's -12.39%.

Which ETF is better, GSPY or AVIE?

On 3-year performance, GSPY leads with 20.74% vs 13.13% for AVIE. On fees, AVIE is cheaper at 0.25% per year. On volatility, AVIE has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSPY or AVIE?

Over the 3-year period, GSPY has performed better with a 20.74% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSPY or AVIE?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.50% for GSPY.

Which ETF pays a higher dividend yield, GSPY or AVIE?

GSPY has the higher dividend yield at 2.41%, compared with 1.46% for AVIE.

What is the main difference between GSPY and AVIE?

They also come from different issuers: Gotham and Avantis. Their fees differ too: 0.50% for GSPY and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.47 vs 1.81), 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.