CGBL vs SPY
Capital Group Core Balanced ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CGBL or SPY?
Equity-oriented Balanced against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CGBL | SPY |
|---|---|---|
| Expense Ratio | 0.33% | 0.09%Best |
| AUM | $7.6B | $804.7B |
| Dividend Yield | 1.85% | 0.98% |
| Holdings | 80 | 505 |
| YTD Return | +6.71% | +12.47%Best |
| 1Y Return | +9.94% | +17.51%Best |
| 3Y Return (annualized) | +16.90% | +21.18%Best |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 9.1%Best | 12.4% |
| Max Drawdown | -11.7%Best | -18.8% |
| $10,000 over 3 years | $15,975 | $18,622Best |
| Top 10 Weight | 59.3% | 38.0%Best |
| Fund Family | Capital Group (US) | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Equity-oriented Balanced | Large Cap Blend |
| Inception | Sep 26, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 28, 2023 to Sep 11, 2026 (3 years).
CGBL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3 years both funds cover.
CGBL vs SPY Performance
Capital Group Core Balanced ETF (CGBL) is an ETF from Capital Group (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CGBL returned +9.94% while SPY returned +17.51%. Year to date, CGBL is up 6.71% versus a gain of 12.47% for SPY.
Over three years, CGBL compounded at +16.90% per year against +21.18% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 9.1% for CGBL. 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 -11.7% for CGBL and -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CGBL charges 0.33% per year while SPY charges 0.09%. On a $10,000 position that is $33 vs $9 annually, a gap of $24 per year that compounds over a long holding period. On income, CGBL currently yields 1.85% against 0.98% for SPY.
Holdings Overlap
48.1% of CGBL's money is in holdings SPY also owns. 50.8% of SPY's money is in holdings CGBL also owns.
The two portfolios partly overlap.
58 positions in common, counted across the 77 positions we hold weights for in CGBL and 504 in SPY, against full books of 80 and 505.
What only one of them owns
Our book lists 436 positions for SPY that do not appear in our book for CGBL (48.7% of the fund), and 10 for CGBL that do not appear in SPY (43.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CGBL | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 2.11% | 6.83% | 4.72% |
| NVDANvidia Corp. | 0.79% | 7.71% | 6.92% |
| AVGOBroadcom Inc | 5.00% | 2.97% | 2.03% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 2.41% | 5.50% | 3.09% |
| GOOGAlphabet Inc | 2.82% | 2.67% | 0.15% |
| AMZNAmazon.Com Inc | 0.92% | 4.08% | 3.16% |
| MUMicron Technology, Inc. | 1.90% | 1.51% | 0.39% |
| METAMeta Platforms, Inc. | 0.95% | 1.94% | 0.99% |
| PMPhilip Morris International Inc. | 2.13% | 0.44% | 1.69% |
| LLYEli Lilly & Co. | 0.63% | 1.33% | 0.70% |
50.8% of SPY is already inside CGBL.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CGBL or SPY?
CGBL has an expense ratio of 0.33% while SPY charges 0.09%. SPY is the cheaper option, by $24 a year on a $10,000 investment.
Which performed better, CGBL or SPY?
Over the past year CGBL returned +9.94% vs +17.51% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGBL or SPY?
SPY has been the more volatile fund at 12.4% annualized versus 9.1% for CGBL. Worst drawdown: CGBL -11.7% vs SPY -18.8%.
Should I hold both CGBL and SPY?
CGBL and SPY have a monthly-return correlation of 0.93, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between CGBL and SPY?
50.8% of SPY's money is in holdings CGBL also owns. 50.8% of SPY's is in holdings CGBL also owns. They hold 58 positions in common, counted across the 77 positions we hold weights for in CGBL and 504 in SPY.
Which pays a higher dividend, CGBL or SPY?
CGBL yields 1.85% while SPY yields 0.98%, so CGBL currently pays the higher dividend yield.
Is SPY better than CGBL?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.93. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.