CGMM vs SPY
Capital Group US Small and Mid Cap ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CGMM or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y and the full window. CGMM is less concentrated, with 20.8% of the fund in its ten largest positions against 37.8%.
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 | CGMM | SPY |
|---|---|---|
| Expense Ratio | 0.51% | 0.09%Best |
| AUM | $3.4B | $804.7B |
| Dividend Yield | 0.38% | 0.98% |
| Holdings | 118 | 505 |
| YTD Return | +7.73% | +12.09%Best |
| 1Y Return | +9.95% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 14.4% | 12.9%Best |
| Max Drawdown | -21.0% | -18.8%Best |
| $10,000 over 1.7 years | $12,209 | $13,158Best |
| Top 10 Weight | 20.8%Best | 37.8% |
| Fund Family | Capital Group (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Jan 14, 2025 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 1.7 years row, are measured over the window both funds cover: Jan 16, 2025 to Sep 18, 2026 (1.7 years).
CGMM 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 1.7 years both funds cover.
CGMM vs SPY Performance
Capital Group US Small and Mid Cap ETF (CGMM) 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 CGMM returned +9.95% while SPY returned +16.29%. Year to date, CGMM is up 7.73% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CGMM has been the more volatile fund, with annualized monthly volatility of 14.4% compared with 12.9% for SPY. 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 -21.0% for CGMM 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CGMM charges 0.51% per year while SPY charges 0.09%. On a $10,000 position that is $51 vs $9 annually, a gap of $42 per year that compounds over a long holding period. On income, CGMM currently yields 0.38% against 0.98% for SPY.
Holdings Overlap
45.4% of CGMM's money is in holdings SPY also owns. 3.9% of SPY's money is in holdings CGMM also owns.
The two portfolios partly overlap.
50 positions in common, counted across the 116 positions we hold weights for in CGMM and 504 in SPY, against full books of 118 and 505.
What only one of them owns
Our book lists 447 positions for SPY that do not appear in our book for CGMM (95.5% of the fund), and 58 for CGMM that do not appear in SPY (49.8%).
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 CGMM | Weight in SPY | Difference |
|---|---|---|---|
| DASHDoordash Inc - A | 2.09% | 0.13% | 1.96% |
| RTXRaytheon Co. | 1.54% | 0.42% | 1.12% |
| EXCExelon | 1.86% | 0.07% | 1.79% |
| BROBrown & Brown Inc | 1.84% | 0.03% | 1.81% |
| NKENike Inc | 1.66% | 0.07% | 1.59% |
| FIXComfort Systems USA Inc. | 1.53% | 0.08% | 1.45% |
| SQBlock Inc | 1.51% | 0.06% | 1.45% |
| KEYSKeysight Technologies Inc. | 1.30% | 0.08% | 1.22% |
| SPGSimon Property Group Inc | 1.26% | 0.10% | 1.16% |
| FITBFifth Third Bancorp | 1.27% | 0.07% | 1.20% |
45.4% of CGMM is already inside SPY.
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, CGMM or SPY?
CGMM has an expense ratio of 0.51% while SPY charges 0.09%. SPY is the cheaper option, by $42 a year on a $10,000 investment.
Which performed better, CGMM or SPY?
Over the past year CGMM returned +9.95% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), CGMM annualized +12.46% vs +17.52% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGMM or SPY?
CGMM has been the more volatile fund at 14.4% annualized versus 12.9% for SPY. Worst drawdown: CGMM -21.0% vs SPY -18.8%.
Should I hold both CGMM and SPY?
CGMM and SPY have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CGMM and SPY?
45.4% of CGMM's money is in holdings SPY also owns. 3.9% of SPY's is in holdings CGMM also owns. They hold 50 positions in common, counted across the 116 positions we hold weights for in CGMM and 504 in SPY.
Which pays a higher dividend, CGMM or SPY?
CGMM yields 0.38% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than CGMM?
SPY has a lower expense ratio. SPY led over 1Y and the full window. CGMM is less concentrated, with 20.8% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.