Data as of Sep 12, 2026. Both funds on the fields they both publish, from the same sources.
GARP vs SPY: how they differ
GARP and SPY hold 41% of their weight in the same names, and GARP returned more over the year.
iShares MSCI USA Quality GARP ETF and SPDR S&P 500 ETF Trust.
What they hold in common
By the books each fund has filed, GARP and SPY hold 41% of their money in the same securities at the same weight.
| Holding | GARP | SPY |
|---|---|---|
| APPLE INC | 4.44% | 6.59% |
| NVIDIA CORP | 4.16% | 7.52% |
| MICROSOFT CORP | 4.10% | 4.30% |
| ALPHABET INC | 2.88% | 3.25% |
| BROADCOM INC | 3.96% | 2.77% |
| MICRON TECHNOLOGY INC | 6.07% | 2.02% |
| META PLATFORMS INC | 3.35% | 1.92% |
| AMAZON.COM INC | 1.49% | 3.62% |
| ELI LILLY & COMPANY | 3.73% | 1.47% |
| ADVANCED MICRO DEVICES INC | 2.21% | 1.47% |
| ALPHABET INC | 0.91% | 2.59% |
| VISA INC | 3.73% | 0.88% |
| Only in GARP | Only in SPY |
|---|---|
| ROYAL CARIBBEAN CRUISES LTD 1.46% | Tesla, Inc. 1.84% |
| MERCADOLIBRE INC 1.40% | Berkshire Hathaway, Inc. 1.42% |
| SEAGATE TECHNOLOGY HOLDINGS PLC 0.49% | JPMorgan Chase & Co. 1.36% |
| CHENIERE ENERGY INC 0.45% | Intel Corp. 1.02% |
| COEUR MINING INC 0.31% | Johnson & Johnson 0.95% |
| FLUTTER ENTERTAINMENT PLC 0.26% | Applied Materials, Inc. 0.89% |
| HEICO CORP 0.25% | Exxon Mobil Corp. 0.88% |
| ROCKET LAB CORP 0.24% | Walmart, Inc. 0.77% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026.
| GARP iShares MSCI USA Quality GARP ETF | SPY SPDR S&P 500 ETF Trust | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | iShares | State Street |
| What it is | MSCI USA Quality GARP | S&P 500, book from IVV |
| Total return, 1 year | +29.5% | +17.5% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | +12.0 pts | 0.0 pts |
| Expense ratio | 0.15% | 0.09% |
| Already in the S&P 500 | 94.4% | 100.0% |
| Holdings | 131 | 504 |
GARP in plain words
GARP is an index equity fund tracking the MSCI USA Quality GARP. Over the year to Sep 11, 2026 it returned +29.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.15% a year. By its holdings filed for Jun 30, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.8%.
SPY in plain words
SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for Jun 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 36.4%.
Questions people ask
- Which returned more over the last year, GARP or SPY?
- In the year to Sep 12, 2026, with distributions reinvested, GARP returned +29.5% and SPY returned +17.5%, so GARP returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, GARP or SPY?
- GARP charges 0.15% a year and SPY charges 0.09%, so SPY is cheaper. Fees come from each fund's prospectus.
- How much do GARP and SPY overlap with the S&P 500?
- By their latest filed holdings, 94% of GARP and 100% of SPY by weight is stocks the S&P 500 already holds. Between the two funds, 41% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, GARP against SPY, data as of Sep 12, 2026. https://etfiq.com/compare/any/GARP-SPY Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources