ATFV vs. SPYG

Last updated Jun 24, 2026

ATFV (Alger 35 ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - ATFV is a Large Cap Growth Equities fund tracking the S&P 500, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 5 years, ATFV returned 13.59%/yr vs 14.11%/yr for SPYG. Their correlation of 0.86 suggests significant overlap in exposure. ATFV charges 0.55%/yr vs 0.04%/yr for SPYG.

Performance

ATFV vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger 35 ETF (ATFV) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATFV achieves a 14.32% return, which is significantly higher than SPYG's 8.70% return.

ATFV

• 1D: -2.39%
• 1M: 1.71%
• YTD: 14.32%
• 6M: 12.11%
• 1Y: 42.99%
• 3Y*: 37.40%
• 5Y*: 13.59%
• 10Y*: —

SPYG

• 1D: -2.40%
• 1M: -2.07%
• YTD: 8.70%
• 6M: 7.46%
• 1Y: 26.87%
• 3Y*: 25.48%
• 5Y*: 14.11%
• 10Y*: 18.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATFV vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ATFV Alger 35 ETF	14.32%	38.20%	46.14%	32.75%	-35.97%	3.03%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	8.70%	22.09%	35.99%	30.02%	-29.41%	21.13%

Correlation

The correlation between ATFV and SPYG is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 4, 2021	0.86

The correlation between ATFV and SPYG has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

ATFV vs. SPYG - Sectors Allocation Comparison

Sectors	ATFV	SPYG
Technology	43.8%	52.1%
Communication Services	24.8%	15.9%
Consumer Cyclical	9.7%	8.5%
Healthcare	8.7%	5.9%
Industrials	6.5%	5.4%
Utilities	5.4%	1.2%
Financial Services	1.1%	9.0%
Basic Materials	-	0.3%
Consumer Defensive	-	1.0%
Energy	-	0.1%
Real Estate	-	0.6%

Return for Risk

ATFV vs. SPYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ATFV

ATFV Risk / Return Rank: 50
ATFV Sharpe Ratio Rank: 54
ATFV Sortino Ratio Rank: 50
ATFV Omega Ratio Rank: 48
ATFV Calmar Ratio Rank: 50
ATFV Martin Ratio Rank: 49

SPYG

SPYG Risk / Return Rank: 45
SPYG Sharpe Ratio Rank: 47
SPYG Sortino Ratio Rank: 44
SPYG Omega Ratio Rank: 44
SPYG Calmar Ratio Rank: 41
SPYG Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATFV vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger 35 ETF (ATFV) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ATFV	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.57	+0.18
Sortino ratio: Return per unit of downside risk	2.36	2.17	+0.19
Omega ratio: Gain probability vs. loss probability	1.29	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	2.36	1.96	+0.40
Martin ratio: Return relative to average drawdown	7.90	7.79	+0.11

ATFV vs. SPYG - Sharpe Ratio Comparison

The current ATFV Sharpe Ratio is 1.75, which is comparable to the SPYG Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of ATFV and SPYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ATFV vs. SPYG - Drawdown Comparison

The maximum ATFV drawdown since its inception was -45.34%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for ATFV and SPYG.

Drawdown Indicators

	ATFV	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-45.34%	-67.63%	+22.29%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	-13.76%	-4.53%
Max Drawdown (3Y) Largest decline over 3 years	-29.01%	-22.14%	-6.87%
Max Drawdown (5Y) Largest decline over 5 years	-45.34%	-32.67%	-12.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	-4.50%	-5.52%	+1.02%
Average Drawdown Average peak-to-trough decline	-17.68%	-24.28%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.46%	3.46%	+2.00%

Volatility

ATFV vs. SPYG - Volatility Comparison

Alger 35 ETF (ATFV) has a higher volatility of 10.85% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 7.26%. This indicates that ATFV's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATFV	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.85%	7.26%	+3.59%
Volatility (6M) Calculated over the trailing 6-month period	19.23%	13.90%	+5.33%
Volatility (1Y) Calculated over the trailing 1-year period	24.74%	17.26%	+7.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.92%	21.36%	+5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.73%	20.73%	+6.00%

ATFV vs. SPYG - Expense Ratio Comparison

ATFV has a 0.55% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

ATFV vs. SPYG - Dividend Comparison

ATFV's dividend yield for the trailing twelve months is around 0.18%, less than SPYG's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATFV Alger 35 ETF	0.18%	0.20%	0.16%	0.01%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.50%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both ATFV and SPYG in my portfolio?

ATFV and SPYG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATFV or SPYG?

ATFV has higher volatility (10.85%) compared to SPYG (7.26%). In terms of maximum drawdown, ATFV dropped -45.34% vs SPYG's -67.63%.

Which ETF is better, ATFV or SPYG?

On 5-year performance, SPYG leads with 14.11% vs 13.59% for ATFV. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ATFV or SPYG?

Over the 5-year period, SPYG has performed better with a 14.11% return vs 13.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ATFV or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.55% for ATFV.

Which ETF pays a higher dividend yield, ATFV or SPYG?

SPYG has the higher dividend yield at 0.50%, compared with 0.18% for ATFV.

What is the main difference between ATFV and SPYG?

ATFV is categorized as Large Cap Growth Equities, while SPYG is S&P 500. ATFV tracks S&P 500, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: Alger Group Holdings LLC and State Street. Their fees differ too: 0.55% for ATFV and 0.04% for SPYG.

Which has better risk-adjusted returns?

ATFV currently has the higher Sharpe Ratio (1.75 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.