GRNB vs SPY
GRNB vs SPY
VanEck Green Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | GRNB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $185M | $789.1B | |
| Dividend Yield | 4.23% | 1.01% | |
| Holdings | 472 | 505 | |
| YTD Return | +0.03% | +13.50% | |
| 1Y Return | +2.02% | +23.56% | |
| 3Y Return (annualized) | +5.02% | +21.17% | |
| 5Y Return (annualized) | +0.42% | +13.46% | |
| Volatility (annualized) | 5.2% | 15.3% | |
| Max Drawdown | -18.6% | -56.5% | |
| Fund Family | VanEck | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Mar 3, 2017 | Jan 22, 1993 |
GRNB vs SPY Performance
VanEck Green Bond ETF (GRNB) is a ETF from VanEck and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GRNB returned +2.02% while SPY returned +23.56%. Year to date, GRNB is up 0.03% versus a gain of 13.50% for SPY.
Over three years, GRNB compounded at +5.02% per year against +21.17% for SPY; over five years the annualized figures are +0.42% and +13.46% respectively. Across the full 9-year window we track, SPY has the edge at +8.85% annualized vs +1.45%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.2% for GRNB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -18.6% for GRNB and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GRNB charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, GRNB currently yields 4.23% against 1.01% for SPY.
Holdings Overlap
GRNB and SPY share 1 holdings out of 850 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in GRNB | Weight in SPY | Difference |
|---|---|---|---|
| SO | 0.10% | 0.17% | 0.07% |
Frequently Asked Questions
Which is cheaper, GRNB or SPY?
GRNB has an expense ratio of 0.20% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $11 per year of difference.
Which performed better, GRNB or SPY?
Over the past year GRNB returned +2.02% vs +23.56% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), GRNB annualized +1.45% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, GRNB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.2% for GRNB. Worst drawdown: GRNB -18.6% vs SPY -56.5%.
Should I hold both GRNB and SPY?
GRNB and SPY have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GRNB and SPY?
GRNB and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 850 unique securities.
Which pays a higher dividend, GRNB or SPY?
GRNB yields 4.23% while SPY yields 1.01%, so GRNB currently pays the higher dividend yield.
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