GVIP vs. SPY
Compare and contrast key facts about Goldman Sachs Hedge Industry VIP ETF (GVIP) and SPDR S&P 500 ETF (SPY).
GVIP and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GVIP is a passively managed fund by Goldman Sachs that tracks the performance of the Goldman Sachs Hedge Fund VIP Index. It was launched on Nov 1, 2016. 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. Both GVIP and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: GVIP or SPY.
Performance
GVIP vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, GVIP achieves a 31.34% return, which is significantly higher than SPY's 25.36% return.
GVIP
31.34%
2.22%
13.10%
38.74%
16.27%
N/A
SPY
25.36%
0.98%
11.79%
31.70%
15.55%
13.07%
Key characteristics
| GVIP | SPY | |
|---|---|---|
| Sharpe Ratio | 2.68 | 2.69 |
| Sortino Ratio | 3.64 | 3.59 |
| Omega Ratio | 1.49 | 1.50 |
| Calmar Ratio | 2.87 | 3.89 |
| Martin Ratio | 19.01 | 17.53 |
| Ulcer Index | 2.11% | 1.87% |
| Daily Std Dev | 14.94% | 12.15% |
| Max Drawdown | -37.09% | -55.19% |
| Current Drawdown | -1.59% | -1.41% |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
GVIP vs. SPY - Expense Ratio Comparison
GVIP has a 0.45% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between GVIP and SPY is 0.90, 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.
Risk-Adjusted Performance
GVIP vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Hedge Industry VIP ETF (GVIP) and 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.
Dividends
GVIP vs. SPY - Dividend Comparison
GVIP's dividend yield for the trailing twelve months is around 0.59%, less than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GVIP Goldman Sachs Hedge Industry VIP ETF | 0.59% | 0.77% | 0.02% | 0.00% | 0.12% | 0.77% | 0.44% | 0.45% | 0.08% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
GVIP vs. SPY - Drawdown Comparison
The maximum GVIP drawdown since its inception was -37.09%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GVIP and SPY. For additional features, visit the drawdowns tool.
Volatility
GVIP vs. SPY - Volatility Comparison
Goldman Sachs Hedge Industry VIP ETF (GVIP) has a higher volatility of 5.25% compared to SPDR S&P 500 ETF (SPY) at 4.09%. This indicates that GVIP'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.