SMIG vs SPY
Bahl & Gaynor Small/Mid Cap Income Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SMIG or SPY?
Mid Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 40.5%.
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 | SMIG | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $1.5B | $804.7B |
| Dividend Yield | 1.84% | 0.98% |
| Holdings | 41 | 505 |
| YTD Return | +8.86% | +13.51%Best |
| 1Y Return | +9.13% | +18.19%Best |
| 3Y Return (annualized) | +13.53% | +23.29%Best |
| 5Y Return (annualized) | +6.86% | +13.21%Best |
| Volatility (annualized) | 16.2% | 15.7%Best |
| Max Drawdown | -19.6%Best | -24.5% |
| $10,000 over 5 years | $13,934 | $18,596Best |
| Top 10 Weight | 40.5% | 37.8%Best |
| Fund Family | Advisors Asset Management, Inc. | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Blend |
| Inception | Aug 25, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Aug 26, 2021 to Sep 25, 2026 (5.1 years).
SMIG 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 5.1 years both funds cover.
SMIG vs SPY Performance
Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG) is an ETF from Advisors Asset Management, Inc. and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SMIG returned +9.13% while SPY returned +18.19%. Year to date, SMIG is up 8.86% versus a gain of 13.51% for SPY.
Over three years, SMIG compounded at +13.53% per year against +23.29% for SPY; over five years the annualized figures are +6.86% and +13.21% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMIG has been the more volatile fund, with annualized monthly volatility of 16.2% compared with 15.7% 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 -19.6% for SMIG 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
SMIG 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, SMIG currently yields 1.84% against 0.98% for SPY.
Holdings Overlap
33.0% of SMIG's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings SMIG also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 39 positions we hold weights for in SMIG and 504 in SPY, against full books of 41 and 505.
What only one of them owns
Our book lists 484 positions for SPY that do not appear in our book for SMIG (98.8% of the fund), and 24 for SMIG that do not appear in SPY (61.7%).
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 SMIG | Weight in SPY | Difference |
|---|---|---|---|
| TRGPTarga Resources Corp Preferred | 4.74% | 0.10% | 4.64% |
| SNASnap-On Inc. | 4.54% | 0.03% | 4.51% |
| HUBBHubbell Inc | 3.45% | 0.04% | 3.41% |
| PKGPackaging Corp. Of America | 3.43% | 0.03% | 3.40% |
| NINisource Inc. | 2.90% | 0.03% | 2.87% |
| HIGHartford Financial Services Group Inc. | 2.83% | 0.06% | 2.77% |
| LNTAlliant Energy Corp. | 2.77% | 0.03% | 2.74% |
| CBOECboe Global Market | 2.03% | 0.05% | 1.98% |
| CMSCms Energy Corp. | 1.59% | 0.03% | 1.56% |
| NTAPNetapp Inc | 1.56% | 0.06% | 1.50% |
33.0% of SMIG 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, SMIG or SPY?
SMIG 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, SMIG or SPY?
Over the past year SMIG returned +9.13% vs +18.19% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SMIG or SPY?
SMIG has been the more volatile fund at 16.2% annualized versus 15.7% for SPY. Worst drawdown: SMIG -19.6% vs SPY -24.5%.
Should I hold both SMIG and SPY?
SMIG and SPY have a monthly-return correlation of 0.79, 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 SMIG and SPY?
33.0% of SMIG's money is in holdings SPY also owns. 0.5% of SPY's is in holdings SMIG also owns. They hold 13 positions in common, counted across the 39 positions we hold weights for in SMIG and 504 in SPY.
Which pays a higher dividend, SMIG or SPY?
SMIG yields 1.84% while SPY yields 0.98%, so SMIG currently pays the higher dividend yield.
Is SPY better than SMIG?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 40.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.