FDG vs SPY
American Century Focused Dynamic Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FDG or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. FDG led over 3Y and the full window, SPY over 1Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 66.2%.
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 | FDG | SPY |
|---|---|---|
| Expense Ratio | 0.45% | 0.09%Best |
| AUM | $420M | $814.4B |
| Dividend Yield | 0.00% | 1.01% |
| Holdings | 45 | 505 |
| YTD Return | +5.62% | +12.71%Best |
| 1Y Return | +14.25% | +19.36%Best |
| 3Y Return (annualized) | +25.66%Best | +21.09% |
| 5Y Return (annualized) | +8.96% | +12.69%Best |
| Volatility (annualized) | 23.0% | 15.3%Best |
| Max Drawdown | -43.7% | -24.5%Best |
| $10,000 over 5 years | $15,358 | $18,173Best |
| Top 10 Weight | 66.2% | 38.0%Best |
| Fund Family | American Century ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Mar 31, 2020 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 2, 2020 to Sep 8, 2026 (6.4 years).
FDG 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 6.4 years both funds cover.
FDG vs SPY Performance
American Century Focused Dynamic Growth ETF (FDG) is an ETF from American Century ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FDG returned +14.25% while SPY returned +19.36%. Year to date, FDG is up 5.62% versus a gain of 12.71% for SPY.
Over three years, FDG compounded at +25.66% per year against +21.09% for SPY; over five years the annualized figures are +8.96% and +12.69% respectively. Across the full 6-year window we track, FDG has the edge at +21.38% annualized vs +20.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FDG has been the more volatile fund, with annualized monthly volatility of 23.0% compared with 15.3% 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 -43.7% for FDG and -24.5% 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FDG charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, FDG currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
76.6% of FDG's money is in holdings SPY also owns. 30.8% of SPY's money is in holdings FDG also owns.
Most of FDG is already inside SPY. Owning both mostly buys the same companies twice.
23 positions in common, counted across the 44 positions we hold weights for in FDG and 503 in SPY, against full books of 45 and 505.
What only one of them owns
Our book lists 470 positions for SPY that do not appear in our book for FDG (68.6% of the fund), and 16 for FDG that do not appear in SPY (16.4%).
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 FDG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 17.27% | 7.71% | 9.56% |
| GOOGAlphabet, Inc., Class C | 16.00% | 2.67% | 13.33% |
| AMZNAmazon.Com Inc | 7.05% | 4.08% | 2.97% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.10% | 5.50% | 1.40% |
| TSLATesla Motors Inc | 6.53% | 1.38% | 5.15% |
| METAMeta Platform Inc | 3.17% | 1.94% | 1.23% |
| AVGOBroadcom Inc | 1.11% | 2.97% | 1.86% |
| CDNSCadence Design Systems Inc. | 3.75% | 0.14% | 3.61% |
| LRCXLam Resh Corp | 2.17% | 0.60% | 1.57% |
| NFLXNetflix, Inc. | 2.29% | 0.47% | 1.82% |
76.6% of FDG 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, FDG or SPY?
FDG has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option, by $36 a year on a $10,000 investment.
Which performed better, FDG or SPY?
Over the past year FDG returned +14.25% vs +19.36% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FDG annualized +21.38% vs +20.25% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FDG or SPY?
FDG has been the more volatile fund at 23.0% annualized versus 15.3% for SPY. Worst drawdown: FDG -43.7% vs SPY -24.5%.
Should I hold both FDG and SPY?
FDG and SPY have a monthly-return correlation of 0.88, 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 FDG and SPY?
76.6% of FDG's money is in holdings SPY also owns. 30.8% of SPY's is in holdings FDG also owns. They hold 23 positions in common, counted across the 44 positions we hold weights for in FDG and 503 in SPY.
Which pays a higher dividend, FDG or SPY?
FDG yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FDG?
SPY has a lower expense ratio. FDG led over 3Y and the full window, SPY over 1Y and 5Y. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 66.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.