GVLU vs. GSPY

Last updated Jun 24, 2026

GVLU (Gotham 1000 Value ETF) and GSPY (Gotham Enhanced 500 ETF) are both exchange-traded funds - GVLU is a Mid Cap Value Equities fund actively managed by Gotham, while GSPY is a Large Cap Blend Equities fund actively managed by Gotham. Both are actively managed. Over the past 3 years, GVLU returned 15.01%/yr vs 20.71%/yr for GSPY. A 0.75 correlation means they provide meaningful diversification when combined. GVLU charges 0.51%/yr vs 0.50%/yr for GSPY.

Performance

GVLU vs. GSPY - Performance Comparison

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

Returns By Period

In the year-to-date period, GVLU achieves a 5.62% return, which is significantly lower than GSPY's 8.61% return.

GVLU

• 1D: 0.13%
• 1M: -1.23%
• YTD: 5.62%
• 6M: 4.60%
• 1Y: 16.60%
• 3Y*: 15.01%
• 5Y*: —
• 10Y*: —

GSPY

• 1D: -1.16%
• 1M: -1.05%
• YTD: 8.61%
• 6M: 7.81%
• 1Y: 25.00%
• 3Y*: 20.71%
• 5Y*: 13.07%
• 10Y*: —

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

GVLU vs. GSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GVLU Gotham 1000 Value ETF	5.62%	11.24%	11.09%	18.02%	-4.22%
GSPY Gotham Enhanced 500 ETF	8.61%	18.28%	23.58%	26.01%	-7.06%

Correlation

The correlation between GVLU and GSPY is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 8, 2022	0.75

The correlation between GVLU and GSPY shifts across timeframes, from 0.61 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

GVLU vs. GSPY - Sectors Allocation Comparison

Sectors	GVLU	GSPY
Consumer Cyclical	17.3%	11.0%
Technology	16.6%	38.5%
Financial Services	14.9%	11.4%
Healthcare	11.9%	8.8%
Industrials	10.2%	8.0%
Consumer Defensive	9.2%	5.6%
Energy	8.9%	2.7%
Basic Materials	6.5%	1.2%
Communication Services	3.4%	10.1%
Real Estate	0.7%	2.1%
Utilities	0.4%	0.7%

Return for Risk

GVLU vs. GSPY — Risk / Return Rank

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

GVLU

GVLU Risk / Return Rank: 39
GVLU Sharpe Ratio Rank: 37
GVLU Sortino Ratio Rank: 40
GVLU Omega Ratio Rank: 34
GVLU Calmar Ratio Rank: 44
GVLU Martin Ratio Rank: 43

GSPY

GSPY Risk / Return Rank: 64
GSPY Sharpe Ratio Rank: 63
GSPY Sortino Ratio Rank: 59
GSPY Omega Ratio Rank: 63
GSPY Calmar Ratio Rank: 63
GSPY Martin Ratio Rank: 72

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.

GVLU vs. GSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gotham 1000 Value ETF (GVLU) and Gotham Enhanced 500 ETF (GSPY). 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.

	GVLU	GSPY	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.96	-0.71
Sortino ratio: Return per unit of downside risk	1.94	2.59	-0.66
Omega ratio: Gain probability vs. loss probability	1.22	1.36	-0.14
Calmar ratio: Return relative to maximum drawdown	2.05	2.91	-0.86
Martin ratio: Return relative to average drawdown	6.55	12.73	-6.18

GVLU vs. GSPY - Sharpe Ratio Comparison

The current GVLU Sharpe Ratio is 1.24, which is lower than the GSPY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of GVLU and GSPY, 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

GVLU vs. GSPY - Drawdown Comparison

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

Drawdown Indicators

	GVLU	GSPY	Difference
Max Drawdown Largest peak-to-trough decline	-20.82%	-23.30%	+2.48%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.62%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-20.82%	-18.67%	-2.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.30%	—
Current Drawdown Current decline from peak	-2.79%	-2.96%	+0.17%
Average Drawdown Average peak-to-trough decline	-4.14%	-4.73%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	1.97%	+0.57%

Volatility

GVLU vs. GSPY - Volatility Comparison

The current volatility for Gotham 1000 Value ETF (GVLU) is 3.19%, while Gotham Enhanced 500 ETF (GSPY) has a volatility of 4.51%. This indicates that GVLU experiences smaller price fluctuations and is considered to be less risky than GSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVLU	GSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.19%	4.51%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	9.11%	9.64%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	12.86%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	16.64%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.72%	16.34%	+1.38%

GVLU vs. GSPY - Expense Ratio Comparison

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

Dividends

GVLU vs. GSPY - Dividend Comparison

GVLU's dividend yield for the trailing twelve months is around 6.10%, more than GSPY's 2.41% yield.

Position	TTM	2025	2024	2023	2022	2021
GSPY Gotham Enhanced 500 ETF	2.41%	2.61%	0.84%	1.06%	1.25%	0.23%
GVLU Gotham 1000 Value ETF	6.10%	6.44%	2.88%	1.62%	0.98%	0.00%

Frequently Asked Questions

Can I hold both GVLU and GSPY in my portfolio?

GVLU and GSPY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GVLU or GSPY?

GSPY has higher volatility (4.51%) compared to GVLU (3.19%). In terms of maximum drawdown, GVLU dropped -20.82% vs GSPY's -23.30%.

Which ETF is better, GVLU or GSPY?

On 3-year performance, GSPY leads with 20.71% vs 15.01% for GVLU. On fees, GSPY is cheaper at 0.50% per year. On volatility, GVLU has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GVLU or GSPY?

Over the 3-year period, GSPY has performed better with a 20.71% return vs 15.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GVLU or GSPY?

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

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

GVLU has the higher dividend yield at 6.10%, compared with 2.41% for GSPY.

What is the main difference between GVLU and GSPY?

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

Which has better risk-adjusted returns?

GSPY currently has the higher Sharpe Ratio (1.96 vs 1.24), 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.