Are GAUG and SPYM in the same category?

GAUG is a buffer ETF and SPYM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, GAUG or SPYM?

In the year to Oct 28, 2026, with distributions reinvested, GAUG returned +8.9% and SPYM +13.7%.

Which is cheaper, GAUG or SPYM?

SPYM is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

GAUG vs SPYM: Differences, Returns & Fees

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Over the year to Oct 28, 2026, GAUG returned +8.9% to SPYM's +13.7%, and SPYM charges 0.02% to GAUG's 0.85%.

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Net assets on Oct 27, 2026: $418m for FT Vest U.S. Equity Moderate Buffer ETF - August and $185.0bn for State Street SPDR Portfolio S&P 500 ETF.

GAUG on its own →SPYM on its own →

At a glance

+8.9%

GAUG total return, 1 year

+13.7%

SPYM total return, 1 year

0.85%

GAUG expense ratio

0.02%

SPYM expense ratio

Pair scorecard

SPYM costs 0.83 points a year less; their one-year returns differ by 4.8 points; SPYM is far larger, $185.0bn against $418m.

GAUG vs SPYM: Differences, Returns & Fees
Measure	GAUG	SPYM
Return
Measure	GAUG	SPYM
Total return, 1 year	+8.9%	+13.7%
Drawdown
Measure	GAUG	SPYM
Index fall to the buffer	0.9%
Fund price fall to the buffer	1.8%
Benchmark
Measure	GAUG	SPYM
What it tracks	SPY	S&P 500 Index
The outcome period
Measure	GAUG	SPYM
Room to the cap	11.8%
Buffer left, in index points	15.0% of 15.0%
Days left in the period	296
Period ends	Aug 20, 2027
Cost and size
Measure	GAUG	SPYM
Expense ratio	0.85%	0.02%
Net assets, as of Oct 27, 2026	$418m	$185.0bn
Holdings
Measure	GAUG	SPYM
Holdings in common	not published
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		38.1%

Method

Risk and return

Sep 1, 2023 to Oct 23, 2026 · 164 weekly returns

GAUG SPYM

Return

Total return edge SPYM +38.8% +75.6%

Annualized edge SPYM +11.0% +19.6%

Price return edge SPYM +38.8% +68.5%

Risk

Volatility edge GAUG 6.9% 14.2%

Max drawdown edge GAUG −8.8% −16.8%

Downside capture 46.9% 96.9%

Beta 0.46 0.96

Risk-adjusted

Sharpe edge SPYM 0.89 1.01

Sortino edge SPYM 1.35 1.57

Treynor 0.134 0.106

Calmar edge GAUG (slight) 1.24 1.16

Against the benchmark

Alpha −0.4% a year +0.4% a year

Alpha t-stat −0.34 0.53

Information ratio −1.02 0.00

Tracking error 8.0% 3.8%

Each against its own benchmark: GAUG against SPY, Sep 1, 2023 to Oct 23, 2026; SPYM against IVV, Nov 25, 2005 to Oct 23, 2026.

Reading

SPYM returned more: +75.6% to +38.8%. GAUG swung less: 6.9% to 14.2%. GAUG fell less at its worst: −8.8% to −16.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GAUG vs SPYM: Differences, Returns & Fees
Measure	GAUG	SPYM	Edge	How it is measured
Return
Total return	+38.8%	+75.6%	SPYM	Price change plus distributions, reinvested.
Annualized	+11.0%	+19.6%	SPYM	Total return as a yearly rate.
Price return	+38.8%	+68.5%	SPYM	Price change alone, distributions left out.
Risk
Volatility	6.9%	14.2%	GAUG	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	4.5%	9.2%	GAUG	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−8.8%	−16.8%	GAUG	Deepest fall from a high to the low after it.
Upside capture	35.9%	94.1%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	46.9%	96.9%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.46	0.96	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.89	0.95	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.89	1.01	SPYM	Return above Treasury bills per unit of volatility.
Sortino	1.35	1.57	SPYM	Return above Treasury bills per unit of downside deviation.
Treynor	0.134	0.106		Return above Treasury bills per unit of beta.
Calmar	1.24	1.16	GAUG (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	SPY	IVV		The ETF each fund is measured against.
Alpha	−0.4% a year	+0.4% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.34	0.53	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−3.0% to +2.1%	−1.2% to +2.0%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−1.02	0.00		Return against its benchmark per unit of tracking error.
Tracking error	8.0%	3.8%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 164 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

GAUG FT Vest U.S. Equity Moderate Buffer ETF - August SPYM State Street SPDR Portfolio S&P 500 ETF

Where it sits Buffer ETF Stock ETF

Issuer First Trust State Street

What it is Defined outcome, 15% on SPY Tracks the S&P 500

Total return, 1 year +8.9% +13.7%

Its benchmark over the same days +12.4% (SPY) +13.7% (IVV)

Gap to its benchmark −3.5 pts vs SPY 0.0 pts vs IVV

Expense ratio 0.85% 0.02%

Holdings not read by ETFIQ 506

Net assets, as of Oct 27, 2026 $418m $185.0bn

Former ticker none SPLG

GAUG and SPYM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-D2BCC24DB3

GAUG and SPYM do different jobs. What does each one do in a portfolio?

What each follows. GAUG follows SPY and SPYM follows S&P 500 Index.
One-year total return. Over 1 year to Oct 28, 2026 GAUG returned +8.9% and SPYM +13.7% with distributions reinvested, a gap of 4.8 points.
Cost. GAUG charges 0.85% of assets a year and SPYM 0.02%, a gap of 0.83 points.

Data as of Oct 28, 2026.

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About each fund

GAUG

From its price on Oct 28, 2026, the fund can gain about 11.8% more before it reaches its cap. The fund's price can fall 1.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.9% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 296 days remained on Oct 28, 2026. On Aug 20, 2027 the period ends and a new cap is set.

SPYM

SPYM tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.02% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 38.1%.

Questions people ask

Are GAUG and SPYM in the same category?: GAUG is a buffer ETF and SPYM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, GAUG or SPYM?: In the year to Oct 28, 2026, with distributions reinvested, GAUG returned +8.9% and SPYM +13.7%.
Which is cheaper, GAUG or SPYM?: SPYM is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

GAUG vs SPY GAUG vs IVV GAUG vs VOO PBMY vs SPYM MAYM vs SPYM PBDE vs SPYM OCTM vs SPYM SPYM vs XOCT

Where to next

State Street® SPDR® S&P 500® ETF Trust →GAUG on its own →SPYM on its own →Hold both: look the portfolio through →Rankings →SPYM dividend history →SPYM holdings →Standards and sources →

Sources and dates

GAUG filings on SEC EDGAR ↗

First Trust page for GAUG ↗

SPYM filings on SEC EDGAR ↗

SPYM prospectus with the expense ratio (SEC) ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, GAUG against SPYM, data as of Oct 28, 2026. https://etfiq.com/compare/any/gaug-vs-spym

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