MGF vs SPY
MGF vs SPY
Aberdeen Government Markets Income Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MGF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | - | 0.09% | |
| AUM | $99M | $789.1B | |
| Dividend Yield | 7.50% | 1.01% | |
| Holdings | 456 | 505 | |
| YTD Return | -1.94% | +13.50% | |
| 1Y Return | -1.43% | +23.56% | |
| 3Y Return (annualized) | +3.71% | +21.17% | |
| 5Y Return (annualized) | -1.34% | +13.46% | |
| Volatility (annualized) | 8.1% | 15.3% | |
| Max Drawdown | -55.5% | -56.5% | |
| Fund Family | Aberdeen Asset Management | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | May 28, 1987 | Jan 22, 1993 |
MGF vs SPY Performance
Aberdeen Government Markets Income Fund (MGF) is a ETF from Aberdeen Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MGF returned -1.43% while SPY returned +23.56%. Year to date, MGF is down 1.94% versus a gain of 13.50% for SPY.
Over three years, MGF compounded at +3.71% per year against +21.17% for SPY; over five years the annualized figures are -1.34% and +13.46% respectively. Across the full 31-year window we track, SPY has the edge at +8.85% annualized vs -1.30%. 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 8.1% for MGF. 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 -55.5% for MGF 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 0.08. They move independently enough that combining them can meaningfully diversify a portfolio.
Holdings Overlap
MGF and SPY share 0 holdings out of 681 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which performed better, MGF or SPY?
Over the past year MGF returned -1.43% vs +23.56% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (31 years), MGF annualized -1.30% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, MGF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.1% for MGF. Worst drawdown: MGF -55.5% vs SPY -56.5%.
Should I hold both MGF and SPY?
MGF and SPY have a monthly-return correlation of 0.08, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MGF and SPY?
MGF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 681 unique securities.
Which pays a higher dividend, MGF or SPY?
MGF yields 7.50% while SPY yields 1.01%, so MGF currently pays the higher dividend yield.
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