BDVG vs SPY
iMGP Berkshire Dividend Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. BDVG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | BDVG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | - | $789.1B | |
| Dividend Yield | 1.49% | 1.01% | |
| Holdings | 41 | 505 | |
| YTD Return | +19.92% | +13.68% | |
| 1Y Return | +25.07% | +21.53% | |
| 3Y Return (annualized) | +16.38% | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 10.9% | 15.3% | |
| Max Drawdown | -14.5% | -56.5% | |
| Fund Family | iMGP Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 29, 2023 | Jan 22, 1993 |
BDVG vs SPY Performance
iMGP Berkshire Dividend Growth ETF (BDVG) is a ETF from iMGP Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year BDVG returned +25.07% while SPY returned +21.53%. Year to date, BDVG is up 19.92% versus a gain of 13.68% for SPY.
Over three years, BDVG compounded at +16.38% per year against +21.44% for SPY. Across the full 3-year window we track, BDVG has the edge at +15.81% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 10.9% for BDVG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.5% for BDVG and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BDVG charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, BDVG currently yields 1.49% against 1.01% for SPY.
Holdings Overlap
BDVG and SPY share 37 holdings out of 507 unique holdings combined, representing a 17.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, BDVG or SPY?
BDVG has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, BDVG or SPY?
Over the past year BDVG returned +25.07% vs +21.53% for SPY, so BDVG leads on 1-year performance. Over the longest common window we track (3 years), BDVG annualized +15.81% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, BDVG or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 10.9% for BDVG. Worst drawdown: BDVG -14.5% vs SPY -56.5%.
Should I hold both BDVG and SPY?
BDVG and SPY have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between BDVG and SPY?
BDVG and SPY share 37 common holdings with a 17.5% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, BDVG or SPY?
BDVG yields 1.49% while SPY yields 1.01%, so BDVG currently pays the higher dividend yield.
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