BDVG vs. SPY

Last updated Apr 1, 2026

Compare and contrast key facts about iMGP Berkshire Dividend Growth ETF (BDVG) and State Street SPDR S&P 500 ETF (SPY).

BDVG and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BDVG is an actively managed fund by iMGP. It was launched on Jun 29, 2023. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.

Performance

BDVG vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP Berkshire Dividend Growth ETF (BDVG) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

BDVG vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BDVG iMGP Berkshire Dividend Growth ETF	2.25%	13.81%	11.75%	3.25%
SPY State Street SPDR S&P 500 ETF	-4.37%	17.72%	24.89%	8.04%

Returns By Period

In the year-to-date period, BDVG achieves a 2.25% return, which is significantly higher than SPY's -4.37% return.

BDVG

• 1D: 1.08%
• 1M: -4.72%
• YTD: 2.25%
• 6M: 3.26%
• 1Y: 13.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: 2.91%
• 1M: -4.94%
• YTD: -4.37%
• 6M: -1.82%
• 1Y: 17.59%
• 3Y*: 18.19%
• 5Y*: 11.69%
• 10Y*: 13.98%

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

BDVG vs. SPY - Expense Ratio Comparison

BDVG has a 0.55% expense ratio, which is higher than SPY's 0.09% expense ratio.

BDVG

iMGP Berkshire Dividend Growth ETF

SPY

State Street SPDR S&P 500 ETF

Return for Risk

BDVG vs. SPY — Risk / Return Rank

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

BDVG

BDVG Risk / Return Rank: 53
BDVG Sharpe Ratio Rank: 51
BDVG Sortino Ratio Rank: 49
BDVG Omega Ratio Rank: 55
BDVG Calmar Ratio Rank: 49
BDVG Martin Ratio Rank: 60

SPY

SPY Risk / Return Rank: 64
SPY Sharpe Ratio Rank: 56
SPY Sortino Ratio Rank: 60
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 65
SPY Martin Ratio Rank: 75

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.

BDVG vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP Berkshire Dividend Growth ETF (BDVG) and State Street SPDR S&P 500 ETF (SPY). 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.

	BDVG	SPY	Difference
Sharpe ratio Return per unit of total volatility	0.91	0.93	-0.02
Sortino ratio Return per unit of downside risk	1.31	1.45	-0.14
Omega ratio Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio Return relative to maximum drawdown	1.23	1.53	-0.29
Martin ratio Return relative to average drawdown	5.84	7.30	-1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDVG vs. SPY - Sharpe Ratio Comparison

The current BDVG Sharpe Ratio is 0.91, which is comparable to the SPY Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of BDVG and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BDVG	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	0.93	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.56	+0.39

Correlation

The correlation between BDVG and SPY is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BDVG vs. SPY - Dividend Comparison

BDVG's dividend yield for the trailing twelve months is around 1.67%, more than SPY's 1.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDVG iMGP Berkshire Dividend Growth ETF	1.67%	1.75%	1.69%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.14%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Drawdowns

BDVG vs. SPY - Drawdown Comparison

The maximum BDVG drawdown since its inception was -14.46%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BDVG and SPY.

Drawdown Indicators

	BDVG	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-14.46%	-55.19%	+40.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.75%	-12.05%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-4.92%	-6.24%	+1.32%
Average Drawdown Average peak-to-trough decline	-2.41%	-9.09%	+6.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.52%	-0.04%

Volatility

BDVG vs. SPY - Volatility Comparison

The current volatility for iMGP Berkshire Dividend Growth ETF (BDVG) is 3.48%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that BDVG experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDVG	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	5.31%	-1.83%
Volatility (6M) Calculated over the trailing 6-month period	7.27%	9.47%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	19.05%	-4.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.99%	17.06%	-5.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	17.92%	-5.93%