FDG vs SPY
American Century Focused Dynamic Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FDG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $428M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 45 | 505 | |
| YTD Return | +3.35% | +12.93% | |
| 1Y Return | +12.80% | +20.62% | |
| 3Y Return (annualized) | +26.64% | +22.00% | |
| 5Y Return (annualized) | +9.85% | +13.33% | |
| Volatility (annualized) | 23.2% | 15.3% | |
| Max Drawdown | -43.7% | -56.5% | |
| Fund Family | American Century ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 31, 2020 | Jan 22, 1993 |
FDG vs SPY Performance
American Century Focused Dynamic Growth ETF (FDG) is a ETF from American Century ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FDG returned +12.80% while SPY returned +20.62%. Year to date, FDG is up 3.35% versus a gain of 12.93% for SPY.
Over three years, FDG compounded at +26.64% per year against +22.00% for SPY; over five years the annualized figures are +9.85% and +13.33% respectively. Across the full 6-year window we track, FDG has the edge at +21.18% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FDG has been the more volatile fund, with annualized monthly volatility of 23.2% 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 -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 0.88. 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
FDG and SPY share 23 holdings out of 525 unique holdings combined, representing a 27.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $36 per year of difference.
Which performed better, FDG or SPY?
Over the past year FDG returned +12.80% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), FDG annualized +21.18% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FDG or SPY?
FDG has been the more volatile fund at 23.2% annualized versus 15.3% for SPY. Worst drawdown: FDG -43.7% vs SPY -56.5%.
Should I hold both FDG and SPY?
FDG and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FDG and SPY?
FDG and SPY share 23 common holdings with a 27.3% weight overlap. Combined, they hold 525 unique securities.
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.
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