SPY vs GLD vs IBIT: Dollar Cost Averaging (DCA) Returns Since February 2024
Investing consistently over time using a dollar cost averaging (DCA) strategy can help reduce risk and capture growth across different market conditions. In this blog, we compare the DCA returns of three popular investment assets since February 2024: the S&P 500 (tracked by SPY), Gold (tracked by GLD), and Bitcoin (through the IBIT spot Bitcoin ETF).
What is Dollar Cost Averaging?
Dollar Cost Averaging means investing a fixed amount of money regularly (for example, monthly), regardless of the asset’s price. This strategy can lower the impact of market volatility by buying more shares when prices are low and fewer when prices are high.
Why These Assets?
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SPY (S&P 500 ETF): Represents the top 500 publicly traded U.S. companies and is a popular equity investment.
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GLD (Gold ETF): Tracks the price of Gold, often used as a hedge against inflation and economic uncertainty.
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IBIT (Spot Bitcoin ETF): Launched in January 2024, IBIT offers investors exposure to Bitcoin without owning it directly.
The Data: DCA Performance Since February 2024
We assumed an investment of $1,000 each month in each asset starting from February 2024. Here's how each asset performed by mid-2025:
| Asset | Total Invested | Final Portfolio Value | Net Gain | Return |
|---|---|---|---|---|
| SPY | $17,000.00 | $18,411.26 | $1,411.26 | 8.30% |
| GLD | $17,000.00 | $22,396.71 | $5,396.71 | 31.75% |
| IBIT | $17,000.00 | $24,965.69 | $7,965.69 | 46.86% |
Key Takeaways
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SPY delivered a steady but modest return of 8.3%, reflecting steady growth in the stock market fueled by strong tech sector momentum and enthusiasm around AI.
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Gold (GLD) outperformed SPY with a 31.75% return, driven by increased central bank demand and its role as a safe haven amid geopolitical tensions.
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Bitcoin (IBIT ETF) showed the highest growth of 46.86%, helped by spot ETF approvals, the post-halving rally, a change in administration, and favorable crypto regulations that boosted investor confidence.
Important Note
As mentioned earlier, this analysis is not about picking a winner. Instead, it highlights the importance of having a balanced portfolio with multiple instruments, chosen according to your personal risk profile. Diversification helps manage risk while aiming for growth.
Conclusion
Dollar Cost Averaging can be a powerful strategy to invest across different asset classes. Whether you prefer the steady growth of stocks, the safety of gold, or the high growth potential of Bitcoin, spreading your investments wisely can help build long-term value.
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