RZG vs SPY
Invesco S&P Smallcap 600 Pure Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, RZG or SPY?
Small Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. RZG led over 1Y, SPY over 3Y, 5Y and the full window. RZG is less concentrated, with 17.1% 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 | RZG | SPY |
|---|---|---|
| Expense Ratio | 0.35% | 0.09%Best |
| AUM | $120M | $811.2B |
| Dividend Yield | 0.46% | 0.98% |
| Holdings | 263 | 1,515 |
| YTD Return | +16.11%Best | +14.85% |
| 1Y Return | +18.05%Best | +17.26% |
| 3Y Return (annualized) | +16.68% | +22.95%Best |
| 5Y Return (annualized) | +4.54% | +13.89%Best |
| Volatility (annualized) | 21.6% | 15.2%Best |
| Max Drawdown | -58.8% | -56.5%Best |
| $10,000 over 5 years | $12,486 | $19,161Best |
| Top 10 Weight | 17.1%Best | 38.2% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Small Cap Growth | Large Cap Blend |
| Inception | Mar 1, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 7, 2006 to Oct 9, 2026 (20.6 years).
RZG 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 20.6 years both funds cover.
RZG vs SPY Performance
Invesco S&P Smallcap 600 Pure Growth ETF (RZG) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year RZG returned +18.05% while SPY returned +17.26%. Year to date, RZG is up 16.11% versus a gain of 14.85% for SPY.
Over three years, RZG compounded at +16.68% per year against +22.95% for SPY; over five years the annualized figures are +4.54% and +13.89% respectively. Across the full 21-year window we track, SPY has the edge at +9.57% annualized vs +8.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RZG has been the more volatile fund, with annualized monthly volatility of 21.6% compared with 15.2% 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 -58.8% for RZG and -56.5% 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RZG charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, RZG currently yields 0.46% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 128 holdings in RZG and 504 in SPY, totalling 100.0% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 128 positions we hold weights for in RZG and 504 in SPY, against full books of 263 and 1,515.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for RZG (99.2% of the fund), and 123 for RZG that do not appear in SPY (96.8%).
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 RZG 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, RZG or SPY?
RZG has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, RZG or SPY?
Over the past year RZG returned +18.05% vs +17.26% for SPY, so RZG leads on 1-year performance. Over the longest common window we track (21 years), RZG annualized +8.35% vs +9.57% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RZG or SPY?
RZG has been the more volatile fund at 21.6% annualized versus 15.2% for SPY. Worst drawdown: RZG -58.8% vs SPY -56.5%.
Should I hold both RZG and SPY?
RZG and SPY have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RZG or SPY?
RZG yields 0.46% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than RZG?
SPY has a lower expense ratio. RZG led over 1Y, SPY over 3Y, 5Y and the full window. RZG is less concentrated, with 17.1% 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.