SPY vs TGRW
State Street SPDR S&P 500 ETF Trust vs T. Rowe Price Growth Stock ETF
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPY | TGRW | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.52% | |
| AUM | $789.1B | $973M | |
| Dividend Yield | 1.01% | 0.00% | |
| Holdings | 505 | 56 | |
| YTD Return | +14.47% | +5.68% | |
| 1Y Return | +21.96% | +10.08% | |
| 3Y Return (annualized) | +21.70% | +20.18% | |
| 5Y Return (annualized) | +13.30% | +7.83% | |
| Volatility (annualized) | 15.3% | 20.2% | |
| Max Drawdown | -56.5% | -43.3% | |
| Fund Family | State Street Investment Management | T.Rowe Price | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Aug 4, 2020 |
SPY vs TGRW Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and T. Rowe Price Growth Stock ETF (TGRW) is a ETF from T.Rowe Price. Over the past year SPY returned +21.96% while TGRW returned +10.08%. Year to date, SPY is up 14.47% versus a gain of 5.68% for TGRW.
Over three years, SPY compounded at +21.70% per year against +20.18% for TGRW; over five years the annualized figures are +13.30% and +7.83% respectively. Across the full 6-year window we track, TGRW has the edge at +11.53% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TGRW has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 15.3% 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 -43.3% for TGRW. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.92. 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 TGRW charges 0.52%. On a $10,000 position that is $9 vs $52 annually, a gap of $43 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 0.00% for TGRW.
Holdings Overlap
SPY and TGRW share 40 holdings out of 518 unique holdings combined, representing a 34.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SPY or TGRW?
SPY has an expense ratio of 0.09% while TGRW charges 0.52%. SPY is the cheaper option. On a $10,000 investment, that is $43 per year of difference.
Which performed better, SPY or TGRW?
Over the past year SPY returned +21.96% vs +10.08% for TGRW, so SPY leads on 1-year performance. Over the longest common window we track (6 years), SPY annualized +8.87% vs +11.53% for TGRW. Past performance does not guarantee future results.
Which is riskier, SPY or TGRW?
TGRW has been the more volatile fund at 20.2% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs TGRW -43.3%.
Should I hold both SPY and TGRW?
SPY and TGRW have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between SPY and TGRW?
SPY and TGRW share 40 common holdings with a 34.5% weight overlap. Combined, they hold 518 unique securities.
Which pays a higher dividend, SPY or TGRW?
SPY yields 1.01% while TGRW yields 0.00%, so SPY currently pays the higher dividend yield.
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