SPY vs SPYG
State Street SPDR S&P 500 ETF Trust vs State Street SPDR Portfolio S&P 500 Growth ETF
Which is better, SPY or SPYG?
Large Cap Blend against Large Cap Growth.
SPYG has a lower expense ratio. SPY led over the full window, SPYG over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.4%.
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 | SPY | SPYG |
|---|---|---|
| Expense Ratio | 0.09% | 0.04%Best |
| AUM | $804.7B | $53.9B |
| Dividend Yield | 0.98% | 0.48% |
| Holdings | 505 | 149 |
| YTD Return | +12.47% | +13.28%Best |
| 1Y Return | +17.51% | +17.87%Best |
| 3Y Return (annualized) | +21.18% | +25.89%Best |
| 5Y Return (annualized) | +12.88% | +13.27%Best |
| Volatility (annualized) | 15.1%Best | 17.7% |
| Max Drawdown | -56.5%Best | -69.7% |
| $10,000 over 5 years | $18,327 | $18,646Best |
| Top 10 Weight | 38.0%Best | 59.4% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Growth |
| Inception | Jan 22, 1993 | Sep 25, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Sep 29, 2000 to Sep 11, 2026 (25.9 years).
SPY vs SPYG 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 25.9 years both funds cover.
SPY vs SPYG Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is an ETF from State Street Investment Management. Over the past year SPY returned +17.51% while SPYG returned +17.87%. Year to date, SPY is up 12.47% versus a gain of 13.28% for SPYG.
Over three years, SPY compounded at +21.18% per year against +25.89% for SPYG; over five years the annualized figures are +12.88% and +13.27% respectively. Across the full 26-year window we track, SPY has the edge at +6.96% annualized vs +6.56%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPYG has been the more volatile fund, with annualized monthly volatility of 17.7% compared with 15.1% 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 -56.5% for SPY and -69.7% for SPYG. 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
SPY charges 0.09% per year while SPYG charges 0.04%. On a $10,000 position that is $9 vs $4 annually, a gap of $5 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 0.48% for SPYG.
Holdings Overlap
67.7% of SPY's money is in holdings SPYG also owns. 99.8% of SPYG's money is in holdings SPY also owns.
Most of SPYG is already inside SPY. Owning both mostly buys the same companies twice.
147 positions in common, counted across the 504 positions we hold weights for in SPY and 149 in SPYG, against full books of 505 and 149.
What only one of them owns
Measured across the 504 and 149 positions we hold weights for.
SPY holds 347 positions SPYG does not, 31.9% of the fund.
Largest: XOM 0.96%, WMT 0.73%, INTC 0.72%, COST 0.63%, BAC 0.62%
Top Shared Holdings
| Stock | Weight in SPY | Weight in SPYG | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.71% | 14.85% | 7.14% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.50% | 10.47% | 4.97% |
| AAPLApple, Inc | 6.83% | 6.46% | 0.37% |
| GOOGLAlphabet A Usd 0.001 | 3.33% | 5.53% | 2.20% |
| AVGOBroadcom Inc | 2.97% | 4.87% | 1.90% |
| AMZNAmazon.Com Inc | 4.08% | 3.74% | 0.34% |
| GOOGAlphabet Inc | 2.67% | 4.40% | 1.73% |
| METAMeta Platforms, Inc. | 1.94% | 3.49% | 1.55% |
| MUMicron Technology, Inc. | 1.51% | 3.00% | 1.49% |
| BRK.BBerkshire Hathaway B | 1.42% | 2.57% | 1.15% |
99.8% of SPYG 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, SPY or SPYG?
SPY has an expense ratio of 0.09% while SPYG charges 0.04%. SPYG is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, SPY or SPYG?
Over the past year SPY returned +17.51% vs +17.87% for SPYG, so SPYG leads on 1-year performance. Over the longest common window we track (26 years), SPY annualized +6.96% vs +6.56% for SPYG. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or SPYG?
SPYG has been the more volatile fund at 17.7% annualized versus 15.1% for SPY. Worst drawdown: SPY -56.5% vs SPYG -69.7%.
Should I hold both SPY and SPYG?
SPY and SPYG 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 SPY and SPYG?
99.8% of SPYG's money is in holdings SPY also owns. 99.8% of SPYG's is in holdings SPY also owns. They hold 147 positions in common, counted across the 504 positions we hold weights for in SPY and 149 in SPYG.
Which pays a higher dividend, SPY or SPYG?
SPY yields 0.98% while SPYG yields 0.48%, so SPY currently pays the higher dividend yield.
Is SPYG better than SPY?
SPYG has a lower expense ratio. SPY led over the full window, SPYG over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.94. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 59.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.