JUST vs SPY
Comparison between GOLDMAN SACHS JUST U.S. LARGE CAP EQUITY ETF (JUST, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed JUST, delivering a return of +13.0% compared to +12.4%
JUST vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
JUST
$555M
Winner
SPY
$781B
Expense Ratio
JUST
0.20%
Winner
SPY
0.09%
Max Drawdown
Winner
JUST
33.83%
SPY
56.47%
Sharpe Ratio
Winner
JUST
1.33
SPY
1.25
5Y Beta
Winner
JUST
0.96
SPY
1.00
P/E Ratio
Winner
JUST
27.86
SPY
28.78
Forward P/E
Winner
JUST
19.89
SPY
21.23
5Y Dividends CAGR
Winner
JUST
7.81%
SPY
6.00%
5Y EPS CAGR
Winner
JUST
28.76%
SPY
25.62%
Debt to Equity
JUST
47.01%
Winner
SPY
31.92%
P/S Ratio
Winner
JUST
3.36
SPY
3.76
P/B Ratio
JUST
5.69
Winner
SPY
5.64
JUST vs SPY - Holdings Comparison
JUST and SPY have 300 common holdings. Overlap is 66.72%
JUST's top 25 holdings weight is 52.03%. SPY's top 25 holdings weight is 51.74%.
| Rank | JUST | SPY |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 8.22% | NVIDIA CORP (NVDA) - 7.89% |
| #2 | APPLE INC (AAPL) - 7.79% | APPLE INC (AAPL) - 7.37% |
| #3 | AMAZON.COM INC (AMZN) - 4.97% | MICROSOFT CORP (MSFT) - 4.50% |
| #4 | MICROSOFT CORP (MSFT) - 4.85% | AMAZON.COM INC (AMZN) - 3.82% |
| #5 | ALPHABET INC CLASS A (GOOGL) - 3.57% | ALPHABET INC CLASS A (GOOGL) - 3.33% |
| #6 | BROADCOM INC (AVGO) - 3.01% | BROADCOM INC (AVGO) - 2.86% |
| #7 | ALPHABET INC CLASS C (GOOG) - 2.91% | ALPHABET INC CLASS C (GOOG) - 2.68% |
| #8 | JPMORGAN CHASE & CO (JPM) - 2.06% | META PLATFORMS INC CLASS A (META) - 2.29% |
| #9 | MICRON TECHNOLOGY INC (MU) - 1.67% | TESLA INC (TSLA) - 1.70% |
| #10 | ELI LILLY AND CO (LLY) - 1.53% | MICRON TECHNOLOGY INC (MU) - 1.56% |
| #11 | ADVANCED MICRO DEVICES INC (AMD) - 1.41% | JPMORGAN CHASE & CO (JPM) - 1.42% |
| #12 | EXXONMOBIL HOLDINGS CORP (XOM) - 1.30% | ELI LILLY AND CO (LLY) - 1.40% |
| #13 | VISA INC CLASS A (V) - 1.12% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37% |
| #14 | WALMART INC (WMT) - 1.00% | ADVANCED MICRO DEVICES INC (AMD) - 1.32% |
| #15 | JOHNSON & JOHNSON (JNJ) - 0.98% | EXXONMOBIL HOLDINGS CORP (XOM) - 0.92% |
| #16 | BANK OF AMERICA CORP (BAC) - 0.89% | JOHNSON & JOHNSON (JNJ) - 0.91% |
| #17 | CISCO SYSTEMS INC (CSCO) - 0.89% | VISA INC CLASS A (V) - 0.90% |
| #18 | COSTCO WHOLESALE CORP (COST) - 0.83% | WALMART INC (WMT) - 0.76% |
| #19 | MASTERCARD INC CLASS A (MA) - 0.81% | INTEL CORP (INTC) - 0.75% |
| #20 | CATERPILLAR INC (CAT) - 0.79% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #21 | WESTERN DIGITAL CORP (WDC) - 0.29% | CISCO SYSTEMS INC (CSCO) - 0.68% |
| #22 | MARVELL TECHNOLOGY INC (MRVL) - 0.29% | MASTERCARD INC CLASS A (MA) - 0.66% |
| #23 | S&P GLOBAL INC (SPGI) - 0.29% | ABBVIE INC (ABBV) - 0.66% |
| #24 | CONOCOPHILLIPS (COP) - 0.29% | CATERPILLAR INC (CAT) - 0.65% |
| #25 | GILEAD SCIENCES INC (GILD) - 0.27% | LAM RESEARCH CORP (LRCX) - 0.64% |
| Total Holdings | 423 | 505 |
JUST vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
JUST
+0.61%
SPY
+0.52%
3M
Winner
JUST
+6.92%
SPY
+6.55%
6M
Winner
JUST
+10.79%
SPY
+9.76%
1Y
Winner
JUST
+21.19%
SPY
+20.32%
5Y(CAGR)
JUST
+12.42%
Winner
SPY
+13.01%
10Y(CAGR)
JUST
+14.49%
Winner
SPY
+15.06%
Max(CAGR)
Winner
JUST
+14.49%
SPY
+8.50%
JUST vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | JUST | SPY |
|---|---|---|
| 2026 | +11.13% | +10.11% |
| 2025 | +17.71% | +18.00% |
| 2024 | +24.54% | +25.59% |
| 2023 | +24.94% | +26.72% |
| 2022 | -18.16% | -18.64% |
| 2021 | +28.47% | +30.52% |
| 2020 | +18.35% | +17.28% |
| 2019 | +31.03% | +31.09% |
| 2018 | -9.61% | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
JUST vs SPY Drawdown Comparison
The maximum drawdown for JUST was -33.83%, occurring on Mar 23, 2020. Recovery took 118 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current JUST drawdown is -1.08%. The current SPY drawdown is -1.24%.
| Rank | JUST | SPY |
|---|---|---|
| #1 | -33.83% Feb 19, 2020 - Aug 6, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -24.72% Dec 29, 2021 - Dec 13, 2023 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -19.71% Sep 20, 2018 - Apr 23, 2019 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -19.34% Feb 18, 2025 - Jun 27, 2025 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -9.76% Sep 2, 2020 - Nov 13, 2020 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -8.84% Jul 16, 2024 - Sep 19, 2024 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -8.76% Feb 2, 2026 - Apr 14, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -6.62% Apr 30, 2019 - Jun 20, 2019 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -6.24% Jul 26, 2019 - Oct 25, 2019 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -5.52% Mar 28, 2024 - May 14, 2024 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -5.35% Sep 2, 2021 - Oct 21, 2021 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -4.64% Oct 28, 2025 - Dec 10, 2025 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.44% Jun 2, 2026 - Jun 10, 2026 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.23% Dec 4, 2024 - Jan 22, 2025 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.23% Nov 16, 2021 - Dec 15, 2021 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between JUST and SPY is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.
1.00
-101
Dividend Comparison (1999 - 2026)
JUST vs SPY dividend yield comparison.
| Year | JUST | SPY |
|---|---|---|
| 2026 | 0.49% | 0.49% |
| 2025 | 1.02% | 1.07% |
| 2024 | 1.11% | 1.21% |
| 2023 | 1.37% | 1.40% |
| 2022 | 1.51% | 1.65% |
| 2021 | 1.07% | 1.20% |
| 2020 | 1.36% | 1.52% |
| 2019 | 1.86% | 1.75% |
| 2018 | 1.11% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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