CGV vs SPY
Conductor Global Equity Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CGV or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. CGV is less concentrated, with 21.5% of the fund in its ten largest positions against 38.2%.
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 | CGV | SPY |
|---|---|---|
| Expense Ratio | 1.25% | 0.09%Best |
| AUM | $136M | $811.2B |
| Dividend Yield | 4.63% | 0.98% |
| Holdings | 168 | 1,515 |
| YTD Return | +7.98% | +12.70%Best |
| 1Y Return | +11.45% | +15.53%Best |
| 3Y Return (annualized) | +12.56% | +22.86%Best |
| 5Y Return (annualized) | - | +13.47% |
| Volatility (annualized) | 13.3%Best | 14.1% |
| Max Drawdown | -16.6%Best | -18.8% |
| $10,000 over 4.2 years | $14,185 | $19,778Best |
| Top 10 Weight | 21.5%Best | 38.2% |
| Fund Family | Conductor ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Apr 19, 2016 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 4.2 years row, are measured over the window both funds cover: Aug 1, 2022 to Oct 1, 2026 (4.2 years).
CGV 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 4.2 years both funds cover.
CGV vs SPY Performance
Conductor Global Equity Value ETF (CGV) is an ETF from Conductor ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CGV returned +11.45% while SPY returned +15.53%. Year to date, CGV is up 7.98% versus a gain of 12.70% for SPY.
Over three years, CGV compounded at +12.56% per year against +22.86% for SPY. Across the full 4-year window we track, SPY has the edge at +17.63% annualized vs +8.68%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 13.3% for CGV. 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 -16.6% for CGV 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 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CGV charges 1.25% per year while SPY charges 0.09%. On a $10,000 position that is $125 vs $9 annually, a gap of $116 per year that compounds over a long holding period. On income, CGV currently yields 4.63% against 0.98% for SPY.
Holdings Overlap
6.3% of CGV's money is in holdings SPY also owns. 0.4% of SPY's money is in holdings CGV also owns.
CGV and SPY share little of their money.
5 positions in common, counted across the 82 positions we hold weights for in CGV and 504 in SPY, against full books of 168 and 1,515.
What only one of them owns
Our book lists 492 positions for SPY that do not appear in our book for CGV (98.9% of the fund), and 9 for CGV that do not appear in SPY (11.2%).
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.
You are not choosing between two funds in isolation.
Whichever of CGV and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CGV or SPY?
CGV has an expense ratio of 1.25% while SPY charges 0.09%. SPY is the cheaper option, by $116 a year on a $10,000 investment.
Which performed better, CGV or SPY?
Over the past year CGV returned +11.45% vs +15.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), CGV annualized +8.68% vs +17.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CGV or SPY?
SPY has been the more volatile fund at 14.1% annualized versus 13.3% for CGV. Worst drawdown: CGV -16.6% vs SPY -18.8%.
Should I hold both CGV and SPY?
CGV and SPY have a monthly-return correlation of 0.57, 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 CGV and SPY?
6.3% of CGV's money is in holdings SPY also owns. 0.4% of SPY's is in holdings CGV also owns. They hold 5 positions in common, counted across the 82 positions we hold weights for in CGV and 504 in SPY.
Which pays a higher dividend, CGV or SPY?
CGV yields 4.63% while SPY yields 0.98%, so CGV currently pays the higher dividend yield.
Is SPY better than CGV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. CGV is less concentrated, with 21.5% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.