ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on GLD and SPY.
Reflect the performance of the price of gold bullion less trust expenses.
Track the S&P 500 Index before expenses.
Asset class
Commodity
Equity
Inception date
11/18/2004
01/22/1993
Beta
0.41
1.0
Last dividend
—
$1.9035
Ex-dividend date
—
09/18/2026
Bottom lineChoose GLD if you want a non-correlated hedge against inflation and market stress. Choose SPY if you want higher current income (1.01% while GLD makes no distribution).
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
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Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
GLD has lagged SPY over the trailing twelve months, posting a 20.82% total return against 21.66%. The lead holds up over 10 years too: SPY has compounded at 15.17% a year, against 11.23% for GLD. SPY has been the steadier holding, though — annualized volatility of 15.2% against 20.8% for GLD. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 14, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Nov 2004” measures every fund from November 18, 2004 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
GLD (SPDR Gold Shares) and SPY (SPDR S&P 500 ETF Trust) are both ETFs, but they take different approaches.
SPY currently shows a 1.01% distribution yield. GLD has not yet established a full distribution history, so a comparable yield figure is not available.
SPY is cheaper with an expense ratio of 0.10% compared to 0.40%.
They track different benchmarks: GLD is linked to Gold bullion spot price while SPY tracks S&P 500 Index, which means their performance drivers differ.
SPY is the larger fund by assets ($783B), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose GLD
SPDR Gold Shares
Want a non-correlated hedge against inflation and equity stress.
Prefer lower volatility — a beta of 0.4 vs 1.0 for SPY.
Choose SPY
SPDR S&P 500 ETF Trust
Want higher current income — SPY yields 1.01% while GLD makes no distribution.
Want simple, diversified core exposure as a portfolio building block.
Want to keep costs low — a 0.10% expense ratio vs 0.40% for GLD.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Deep dive
Yield & income
On a $10,000 investment, GLD has no reported distribution yield yet, so a monthly income estimate is not available, while SPY would produce $8.42/month, at current distribution rates.
GLD yield0.00%
SPY yield1.01%
Cost & efficiency
Over 10 years on $10,000, GLD would cost approximately $400 in fees vs $100 for SPY (simplified, not compounded). The $300.00 difference may be offset by yield or performance.
GLD ER0.40%
SPY ER0.10%
Strategy & risk
GLD tracks Gold bullion spot price with a metals approach, while SPY tracks S&P 500 Index with a large cap approach. Beta is 0.41 for GLD and 1.0 for SPY, indicating GLD is less volatile relative to the market.
GLD beta0.41
SPY beta1.0
Fund details
GLD is managed by State Street (launched 11/18/2004) with $136B in assets. SPY is managed by State Street (launched 01/22/1993) with $783B in assets.
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Frequently asked questions
Which of GLD or SPY pays more dividend income?
SPY currently reports a distribution yield, while GLD has not yet established a full distribution history. A direct income comparison is not yet meaningful — check back once both funds have published several consecutive distributions.
What is the difference between GLD and SPY?
GLD (SPDR Gold Shares) tracks Gold bullion spot price with a metals approach, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by State Street and State Street respectively.
Can I hold both GLD and SPY?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has lower fees, GLD or SPY?
GLD has an expense ratio of 0.40% while SPY charges 0.10%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in GLD vs SPY generate?
At current rates, GLD has not established a distribution history yet, so a monthly income estimate is not available. The same in SPY would produce about $8.42 per month ($101.00 annually).
Which has performed better historically, GLD or SPY?
GLD has lagged SPY over the trailing twelve months, posting a 20.82% total return against 21.66%. The lead holds up over 10 years too: SPY has compounded at 15.17% a year, against 11.23% for GLD. SPY has been the steadier holding, though — annualized volatility of 15.2% against 20.8% for GLD. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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