GSST vs SPY
GSST vs SPY
Goldman Sachs Ultra Short 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 | GSST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.16% | 0.09% | |
| AUM | $1.6B | $789.1B | |
| Dividend Yield | 4.31% | 1.01% | |
| Holdings | 413 | 505 | |
| YTD Return | -0.20% | +13.50% | |
| 1Y Return | +1.42% | +23.56% | |
| 3Y Return (annualized) | +4.43% | +21.17% | |
| 5Y Return (annualized) | +3.30% | +13.46% | |
| Volatility (annualized) | 1.4% | 15.3% | |
| Max Drawdown | -3.5% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 15, 2019 | Jan 22, 1993 |
GSST vs SPY Performance
Goldman Sachs Ultra Short Bond ETF (GSST) is a ETF from Goldman Sachs Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year GSST returned +1.42% while SPY returned +23.56%. Year to date, GSST is down 0.20% versus a gain of 13.50% for SPY.
Over three years, GSST compounded at +4.43% per year against +21.17% for SPY; over five years the annualized figures are +3.30% and +13.46% respectively. Across the full 7-year window we track, SPY has the edge at +8.85% annualized vs +2.89%. 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 1.4% for GSST. 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 -3.5% for GSST 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
GSST charges 0.16% per year while SPY charges 0.09%. On a $10,000 position that is $16 vs $9 annually, a gap of $7 per year that compounds over a long holding period. On income, GSST currently yields 4.31% against 1.01% for SPY.
Holdings Overlap
GSST and SPY share 0 holdings out of 732 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, GSST or SPY?
GSST has an expense ratio of 0.16% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $7 per year of difference.
Which performed better, GSST or SPY?
Over the past year GSST returned +1.42% vs +23.56% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), GSST annualized +2.89% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, GSST or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 1.4% for GSST. Worst drawdown: GSST -3.5% vs SPY -56.5%.
Should I hold both GSST and SPY?
GSST and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between GSST and SPY?
GSST and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 732 unique securities.
Which pays a higher dividend, GSST or SPY?
GSST yields 4.31% while SPY yields 1.01%, so GSST currently pays the higher dividend yield.
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