JUST vs SPY
JUST vs SPY
Goldman Sachs JUST US Large Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. JUST delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | JUST | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.20% | 0.09% | |
| AUM | $550M | $789.1B | |
| Dividend Yield | 0.96% | 1.01% | |
| Holdings | 467 | 505 | |
| YTD Return | +15.11% | +13.10% | |
| 1Y Return | +24.92% | +22.80% | |
| 3Y Return (annualized) | +21.17% | +20.98% | |
| 5Y Return (annualized) | +12.76% | +13.20% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -33.8% | -56.5% | |
| Fund Family | Goldman Sachs Asset Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 7, 2018 | Jan 22, 1993 |
JUST vs SPY Performance
Goldman Sachs JUST US Large Cap Equity ETF (JUST) 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 JUST returned +24.92% while SPY returned +22.80%. Year to date, JUST is up 15.11% versus a gain of 13.10% for SPY.
Over three years, JUST compounded at +21.17% per year against +20.98% for SPY; over five years the annualized figures are +12.76% and +13.20% respectively. Across the full 8-year window we track, JUST has the edge at +14.15% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
JUST has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 15.3% for SPY. 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 -33.8% for JUST 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
JUST 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, JUST currently yields 0.96% against 1.01% for SPY.
Holdings Overlap
JUST and SPY share 334 holdings out of 629 unique holdings combined, representing a 81.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in JUST | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 8.14% | 7.09% | 1.05% |
| NVDA | 7.71% | 7.31% | 0.40% |
| MSFT | 4.84% | 4.43% | 0.41% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| JPM:US | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
See all 10 holdings JUST shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, JUST or SPY?
JUST 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, JUST or SPY?
Over the past year JUST returned +24.92% vs +22.80% for SPY, so JUST leads on 1-year performance. Over the longest common window we track (8 years), JUST annualized +14.15% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, JUST or SPY?
JUST has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: JUST -33.8% vs SPY -56.5%.
Should I hold both JUST and SPY?
JUST and SPY have a monthly-return correlation of 1.00, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between JUST and SPY?
JUST and SPY share 334 common holdings with a 81.1% weight overlap. Combined, they hold 629 unique securities.
Which pays a higher dividend, JUST or SPY?
JUST yields 0.96% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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