GSPY vs. GVLU

Last updated Aug 2, 2026

GSPY (Gotham Enhanced 500 ETF) and GVLU (Gotham 1000 Value ETF) are both exchange-traded funds - GSPY is a Large Cap Blend Equities fund actively managed by Gotham, while GVLU is a Mid Cap Value Equities fund actively managed by Gotham. Both are actively managed. Over the past 3 years, GSPY returned 19.59%/yr vs 13.95%/yr for GVLU. Their 0.73 correlation means they have sometimes moved together and sometimes differently. GSPY charges 0.50%/yr vs 0.51%/yr for GVLU.

Performance

GSPY vs. GVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gotham Enhanced 500 ETF (GSPY) and Gotham 1000 Value ETF (GVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSPY achieves a 11.59% return, which is significantly lower than GVLU's 13.03% return.

GSPY

• 1D: 0.87%
• 1M: 1.25%
• 6M: 9.70%
• YTD: 11.59%
• 1Y: 24.15%
• 3Y*: 19.59%
• 5Y*: 13.03%
• 10Y*: —
• ALL TIME*: 14.97%

GVLU

• 1D: -0.51%
• 1M: 3.55%
• 6M: 8.50%
• YTD: 13.03%
• 1Y: 24.88%
• 3Y*: 13.95%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.65%

*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)
GSPY Gotham Enhanced 500 ETF	$111.53K	$112.18K	$139.32K
GVLU Gotham 1000 Value ETF	$120.55K	$132.40K	$131.70K

GSPY vs. GVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GSPY Gotham Enhanced 500 ETF	11.59%	18.28%	23.58%	26.01%	-7.06%
GVLU Gotham 1000 Value ETF	13.03%	11.24%	11.09%	18.02%	-4.22%

Correlation

The correlation between GSPY and GVLU is 0.53, 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.	0.53
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.73

Over the past year, the correlation between GSPY and GVLU has dropped to 0.53 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

GSPY vs. GVLU - Sectors Allocation Comparison

Sectors	GSPY	GVLU
Technology	38.8%	16.1%
Financial Services	12.0%	14.8%
Communication Services	10.6%	3.2%
Consumer Cyclical	10.6%	18.4%
Healthcare	8.9%	11.0%
Industrials	6.8%	10.5%
Consumer Defensive	5.5%	9.0%
Energy	2.7%	8.7%
Real Estate	2.2%	0.7%
Basic Materials	1.2%	7.5%
Utilities	0.7%	0.2%

Return for Risk

GSPY vs. GVLU — Risk / Return Rank

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

GSPY

GSPY Risk / Return Rank: 75
GSPY Sharpe Ratio Rank: 74
GSPY Sortino Ratio Rank: 70
GSPY Omega Ratio Rank: 73
GSPY Calmar Ratio Rank: 74
GSPY Martin Ratio Rank: 82

GVLU

GVLU Risk / Return Rank: 79
GVLU Sharpe Ratio Rank: 79
GVLU Sortino Ratio Rank: 84
GVLU Omega Ratio Rank: 75
GVLU Calmar Ratio Rank: 80
GVLU Martin Ratio Rank: 77

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.

GSPY vs. GVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham Enhanced 500 ETF (GSPY) and Gotham 1000 Value ETF (GVLU). 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	GVLU	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.80	-0.11
Sortino ratio: Return per unit of downside risk	2.27	2.76	-0.49
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.57	2.90	-0.33
Martin ratio: Return relative to average drawdown	10.91	9.72	+1.20

GSPY vs. GVLU - Sharpe Ratio Comparison

The current GSPY Sharpe Ratio is 1.69, which is comparable to the GVLU Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of GSPY and GVLU, 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. GVLU - Drawdown Comparison

The maximum GSPY drawdown since its inception was -23.30%, which is greater than GVLU's maximum drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for GSPY and GVLU.

Drawdown Indicators

	GSPY	GVLU	Difference
Max Drawdown Largest peak-to-trough decline	-23.30%	-20.82%	-2.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-8.14%	-0.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.67%	-20.82%	+2.15%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	—	—
Current Drawdown Current decline from peak	-0.30%	-1.37%	+1.07%
Average Drawdown Average peak-to-trough decline	-4.66%	-4.05%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.43%	-0.40%

Volatility

GSPY vs. GVLU - Volatility Comparison

The current volatility for Gotham Enhanced 500 ETF (GSPY) is 3.50%, while Gotham 1000 Value ETF (GVLU) has a volatility of 4.01%. This indicates that GSPY experiences smaller price fluctuations and is considered to be less risky than GVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSPY	GVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.01%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	9.44%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	13.23%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.65%	17.62%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.26%	17.62%	-1.36%

GSPY vs. GVLU - Expense Ratio Comparison

GSPY has a 0.50% expense ratio, which is lower than GVLU's 0.51% expense ratio.

Dividends

GSPY vs. GVLU - Dividend Comparison

GSPY's dividend yield for the trailing twelve months is around 2.34%, less than GVLU's 5.70% yield.

Position	TTM	2025	2024	2023	2022	2021
GSPY Gotham Enhanced 500 ETF	2.34%	2.61%	0.84%	1.06%	1.25%	0.23%
GVLU Gotham 1000 Value ETF	5.70%	6.44%	2.88%	1.62%	0.98%	0.00%

Frequently Asked Questions

Can I hold both GSPY and GVLU in my portfolio?

GSPY and GVLU have a correlation of 0.53, 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 GVLU?

GVLU has higher volatility (4.01%) compared to GSPY (3.50%). In terms of maximum drawdown, GSPY dropped -23.30% vs GVLU's -20.82%.

Which ETF is better, GSPY or GVLU?

On 3-year performance, GSPY leads with 19.59% vs 13.95% for GVLU. On fees, GSPY is cheaper at 0.50% per year. On volatility, GSPY has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSPY or GVLU?

Over the 3-year period, GSPY has performed better with a 19.59% return vs 13.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSPY or GVLU?

GSPY is cheaper with a 0.50% expense ratio, compared with 0.51% for GVLU.

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

GVLU has the higher dividend yield at 5.70%, compared with 2.34% for GSPY.

What is the main difference between GSPY and GVLU?

GSPY is categorized as Large Cap Blend Equities, while GVLU is Mid Cap Value Equities. Their fees differ too: 0.50% for GSPY and 0.51% for GVLU.

Which has better risk-adjusted returns?

GVLU currently has the higher Sharpe Ratio (1.79 vs 1.69), 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.