LGRO vs SPY
Level Four Large Cap Growth Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, LGRO or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. LGRO led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.9%.
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 | LGRO | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $140M | $804.7B |
| Dividend Yield | 0.33% | 0.98% |
| Holdings | 49 | 505 |
| YTD Return | +12.29%Best | +10.96% |
| 1Y Return | +15.66%Best | +15.52% |
| 3Y Return (annualized) | +22.63%Best | +20.73% |
| 5Y Return (annualized) | - | +12.53% |
| Volatility (annualized) | 16.9% | 12.9%Best |
| Max Drawdown | -23.3% | -18.8%Best |
| $10,000 over 3.1 years | $18,547Best | $17,776 |
| Top 10 Weight | 42.9% | 37.8%Best |
| Fund Family | ALPS Advisors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Aug 22, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Aug 23, 2023 to Sep 16, 2026 (3.1 years).
LGRO 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 3.1 years both funds cover.
LGRO vs SPY Performance
Level Four Large Cap Growth Active ETF (LGRO) is an ETF from ALPS Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year LGRO returned +15.66% while SPY returned +15.52%. Year to date, LGRO is up 12.29% versus a gain of 10.96% for SPY.
Over three years, LGRO compounded at +22.63% per year against +20.73% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
LGRO has been the more volatile fund, with annualized monthly volatility of 16.9% 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 -23.3% for LGRO 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
LGRO charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, LGRO currently yields 0.33% against 0.98% for SPY.
Holdings Overlap
77.5% of LGRO's money is in holdings SPY also owns. 43.0% of SPY's money is in holdings LGRO also owns.
Most of LGRO is already inside SPY. Owning both mostly buys the same companies twice.
38 positions in common, counted across the 48 positions we hold weights for in LGRO and 504 in SPY, against full books of 49 and 505.
What only one of them owns
Measured across the 48 and 504 positions we hold weights for.
SPY holds 459 positions LGRO does not, 56.3% of the fund.
Largest: GOOG 2.39%, TSLA 1.52%, JPM 1.45%, LLY 1.40%, BRK.B 1.40%
Top Shared Holdings
| Stock | Weight in LGRO | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 6.55% | 7.26% | 0.71% |
| MSFTMicrosoft Corp | 7.20% | 5.66% | 1.54% |
| NVDANvidia Corp | 4.16% | 8.01% | 3.85% |
| AMZNAmazon.Com Inc | 4.57% | 3.79% | 0.78% |
| GOOGLAlphabet Inc,class A | 4.31% | 2.99% | 1.32% |
| AVGOBroadcom Inc | 1.82% | 2.66% | 0.84% |
| METAMeta Platforms Inc | 2.09% | 1.93% | 0.16% |
| MUMicron Technology, Inc. | 2.41% | 1.60% | 0.81% |
| UNHUnitedhealth Group Incorporated | 3.28% | 0.55% | 2.73% |
| PYPLPaypay Holdings, Inc. | 3.19% | 0.07% | 3.12% |
77.5% of LGRO 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, LGRO or SPY?
LGRO has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, LGRO or SPY?
Over the past year LGRO returned +15.66% vs +15.52% for SPY, so LGRO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, LGRO or SPY?
LGRO has been the more volatile fund at 16.9% annualized versus 12.9% for SPY. Worst drawdown: LGRO -23.3% vs SPY -18.8%.
Should I hold both LGRO and SPY?
LGRO and SPY have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between LGRO and SPY?
77.5% of LGRO's money is in holdings SPY also owns. 43.0% of SPY's is in holdings LGRO also owns. They hold 38 positions in common, counted across the 48 positions we hold weights for in LGRO and 504 in SPY.
Which pays a higher dividend, LGRO or SPY?
LGRO yields 0.33% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than LGRO?
SPY has a lower expense ratio. LGRO led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 42.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.