SPY vs VGLT
State Street SPDR S&P 500 ETF Trust vs Vanguard Long Term Treasury ETF
Which is better, SPY or VGLT?
Large Cap Blend against Long Term Government Bond.
VGLT has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | VGLT |
|---|---|---|
| Expense Ratio | 0.09% | 0.03%Best |
| AUM | $804.7B | $10.3B |
| Dividend Yield | 0.98% | 4.76% |
| Holdings | 505 | 102 |
| YTD Return | +11.45%Best | -4.05% |
| 1Y Return | +15.87%Best | -5.41% |
| 3Y Return (annualized) | +20.93%Best | +0.39% |
| 5Y Return (annualized) | +12.59%Best | -7.42% |
| Volatility (annualized) | 14.4% | 12.3%Best |
| Max Drawdown | -34.1%Best | -47.1% |
| $10,000 over 5 years | $18,093Best | $6,801 |
| Fund Family | State Street Investment Management | Vanguard (US) |
| Category | Equity | Fixed Income |
| Style | Large Cap Blend | Long Term Government Bond |
| Inception | Jan 22, 1993 | Nov 19, 2009 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 24, 2009 to Sep 15, 2026 (16.8 years).
SPY vs VGLT 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
SPY vs VGLT Performance
State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management and Vanguard Long Term Treasury ETF (VGLT) is an ETF from Vanguard (US). Over the past year SPY returned +15.87% while VGLT returned -5.41%. Year to date, SPY is up 11.45% versus a loss of 4.05% for VGLT.
Over three years, SPY compounded at +20.93% per year against +0.39% for VGLT; over five years the annualized figures are +12.59% and -7.42% respectively. Across the full 17-year window we track, SPY has the edge at +12.60% annualized vs +0.24%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.4% compared with 12.3% for VGLT. 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 -34.1% for SPY and -47.1% for VGLT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.07. They move largely independently of each other.
Fees and Cost Over Time
SPY charges 0.09% per year while VGLT charges 0.03%. On a $10,000 position that is $9 vs $3 annually, a gap of $6 per year that compounds over a long holding period. On income, SPY currently yields 0.98% against 4.76% for VGLT.
Holdings Overlap
We hold position weights for 504 holdings in SPY and 94 in VGLT, totalling 99.9% and 89.5% 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 504 positions we hold weights for in SPY and 94 in VGLT, against full books of 505 and 102.
You are not choosing between two funds in isolation.
Whichever of SPY and VGLT 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, SPY or VGLT?
SPY has an expense ratio of 0.09% while VGLT charges 0.03%. VGLT is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, SPY or VGLT?
Over the past year SPY returned +15.87% vs -5.41% for VGLT, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SPY annualized +12.60% vs +0.24% for VGLT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SPY or VGLT?
SPY has been the more volatile fund at 14.4% annualized versus 12.3% for VGLT. Worst drawdown: SPY -34.1% vs VGLT -47.1%.
Should I hold both SPY and VGLT?
SPY and VGLT have a monthly-return correlation of -0.07, 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, SPY or VGLT?
SPY yields 0.98% while VGLT yields 4.76%, so VGLT currently pays the higher dividend yield.
Is VGLT better than SPY?
VGLT has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.