FSGS vs SPY
First Trust SMID Growth Strength ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FSGS or SPY?
Small Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FSGS is less concentrated, with 11.7% of the fund in its ten largest positions against 38.0%.
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 | FSGS | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $32M | $814.4B |
| Dividend Yield | 0.03% | 1.01% |
| Holdings | 202 | 505 |
| YTD Return | +9.99% | +13.34%Best |
| 1Y Return | +6.24% | +19.97%Best |
| 3Y Return (annualized) | +9.36% | +21.20%Best |
| 5Y Return (annualized) | +4.82% | +12.81%Best |
| Volatility (annualized) | 20.7% | 15.9%Best |
| Max Drawdown | -45.0% | -34.1%Best |
| $10,000 over 5 years | $12,654 | $18,270Best |
| Top 10 Weight | 11.7%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | Jun 20, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 22, 2017 to Sep 4, 2026 (9.2 years).
FSGS 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 9.2 years both funds cover.
FSGS vs SPY Performance
First Trust SMID Growth Strength ETF (FSGS) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FSGS returned +6.24% while SPY returned +19.97%. Year to date, FSGS is up 9.99% versus a gain of 13.34% for SPY.
Over three years, FSGS compounded at +9.36% per year against +21.20% for SPY; over five years the annualized figures are +4.82% and +12.81% respectively. Across the full 9-year window we track, SPY has the edge at +14.28% annualized vs +6.93%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSGS has been the more volatile fund, with annualized monthly volatility of 20.7% compared with 15.9% 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 -45.0% for FSGS and -34.1% 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FSGS charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, FSGS currently yields 0.03% against 1.01% for SPY.
Holdings Overlap
16.9% of FSGS's money is in holdings SPY also owns. 0.6% of SPY's money is in holdings FSGS also owns.
FSGS and SPY share little of their money.
17 positions in common, counted across the 100 positions we hold weights for in FSGS and 504 in SPY, against full books of 202 and 505.
What only one of them owns
Our book lists 480 positions for SPY that do not appear in our book for FSGS (98.9% of the fund), and 82 for FSGS that do not appear in SPY (82.0%).
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 FSGS | Weight in SPY | Difference |
|---|---|---|---|
| TPRTapestry Inc. | 1.08% | 0.05% | 1.03% |
| EMEEmcor Group Inc | 1.07% | 0.05% | 1.02% |
| PTCPtc Inc | 1.08% | 0.02% | 1.06% |
| VEEVVeeva Systems Inc., Class A | 1.05% | 0.05% | 1.00% |
| DXCMDexcom Inc. | 1.04% | 0.05% | 0.99% |
| BRBroadridge Financial Solutions, Inc. | 1.05% | 0.03% | 1.02% |
| ERIEErie Indemnity Co | 1.06% | 0.01% | 1.05% |
| STE:IESteris Plc Ordinary Shares | 1.03% | 0.03% | 1.00% |
| INCYIncyte Corp. | 0.98% | 0.03% | 0.95% |
| NTRSNorthern Trust Corp. | 0.96% | 0.05% | 0.91% |
You are not choosing between two funds in isolation.
Whichever of FSGS 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, FSGS or SPY?
FSGS has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, FSGS or SPY?
Over the past year FSGS returned +6.24% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), FSGS annualized +6.93% vs +14.28% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSGS or SPY?
FSGS has been the more volatile fund at 20.7% annualized versus 15.9% for SPY. Worst drawdown: FSGS -45.0% vs SPY -34.1%.
Should I hold both FSGS and SPY?
FSGS and SPY have a monthly-return correlation of 0.84, 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 FSGS and SPY?
16.9% of FSGS's money is in holdings SPY also owns. 0.6% of SPY's is in holdings FSGS also owns. They hold 17 positions in common, counted across the 100 positions we hold weights for in FSGS and 504 in SPY.
Which pays a higher dividend, FSGS or SPY?
FSGS yields 0.03% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FSGS?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FSGS is less concentrated, with 11.7% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.