BGRO vs. SPYG

Last updated Jul 12, 2026

BGRO (BlackRock Large Cap Growth ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - BGRO is a Large Cap Growth Equities fund actively managed by iShares, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. BGRO is actively managed, while SPYG is passively managed. Over the past year, BGRO returned 16.68% vs 25.88% for SPYG. With a 0.96 correlation, they move nearly in lockstep. BGRO charges 0.55%/yr vs 0.04%/yr for SPYG.

Performance

BGRO vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Large Cap Growth ETF (BGRO) 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, BGRO achieves a 11.37% return, which is significantly lower than SPYG's 12.75% return.

BGRO

• 1D: -0.02%
• 1M: 2.54%
• 6M: 9.38%
• YTD: 11.37%
• 1Y: 16.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYG

• 1D: 0.60%
• 1M: 2.78%
• 6M: 11.48%
• YTD: 12.75%
• 1Y: 25.88%
• 3Y*: 26.58%
• 5Y*: 14.08%
• 10Y*: 17.81%

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

BGRO vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BGRO BlackRock Large Cap Growth ETF	11.37%	12.37%	11.06%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	12.75%	22.09%	16.78%

Correlation

The correlation between BGRO and SPYG is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 5, 2024	0.96

The correlation between BGRO and SPYG has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

BGRO vs. SPYG - Sectors Allocation Comparison

Sectors	BGRO	SPYG
Technology	53.4%	52.0%
Industrials	14.0%	5.2%
Communication Services	11.3%	15.9%
Consumer Cyclical	9.4%	8.5%
Real Estate	4.0%	0.6%
Healthcare	2.9%	6.2%
Basic Materials	2.2%	0.4%
Financial Services	1.4%	8.9%
Consumer Defensive	0.9%	1.0%
Energy	0.7%	0.1%
Utilities	-	1.2%

Return for Risk

BGRO vs. SPYG — Risk / Return Rank

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

BGRO

BGRO Risk / Return Rank: 27
BGRO Sharpe Ratio Rank: 28
BGRO Sortino Ratio Rank: 27
BGRO Omega Ratio Rank: 27
BGRO Calmar Ratio Rank: 24
BGRO Martin Ratio Rank: 27

SPYG

SPYG Risk / Return Rank: 51
SPYG Sharpe Ratio Rank: 54
SPYG Sortino Ratio Rank: 52
SPYG Omega Ratio Rank: 51
SPYG Calmar Ratio Rank: 46
SPYG Martin Ratio Rank: 53

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.

BGRO vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Large Cap Growth ETF (BGRO) 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.

	BGRO	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	0.85	1.48	-0.63
Sortino ratio: Return per unit of downside risk	1.25	2.07	-0.83
Omega ratio: Gain probability vs. loss probability	1.16	1.26	-0.11
Calmar ratio: Return relative to maximum drawdown	0.92	1.87	-0.94
Martin ratio: Return relative to average drawdown	2.94	7.17	-4.23

BGRO vs. SPYG - Sharpe Ratio Comparison

The current BGRO Sharpe Ratio is 0.85, which is lower than the SPYG Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of BGRO 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

BGRO vs. SPYG - Drawdown Comparison

The maximum BGRO drawdown since its inception was -24.94%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for BGRO and SPYG.

Drawdown Indicators

	BGRO	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-24.94%	-67.63%	+42.69%
Max Drawdown (1Y) Largest decline over 1 year	-17.64%	-13.76%	-3.88%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.67%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	-4.07%	-2.00%	-2.07%
Average Drawdown Average peak-to-trough decline	-4.77%	-24.24%	+19.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	3.57%	+1.96%

Volatility

BGRO vs. SPYG - Volatility Comparison

BlackRock Large Cap Growth ETF (BGRO) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) have volatilities of 6.57% and 6.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGRO	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	6.66%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	14.21%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	19.26%	17.37%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.59%	21.40%	+2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.59%	20.72%	+2.87%

BGRO vs. SPYG - Expense Ratio Comparison

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

Dividends

BGRO vs. SPYG - Dividend Comparison

BGRO's dividend yield for the trailing twelve months is around 0.03%, less than SPYG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGRO BlackRock Large Cap Growth ETF	0.03%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	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 BGRO and SPYG in my portfolio?

With a correlation of 0.95, BGRO and SPYG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BGRO or SPYG?

SPYG has higher volatility (6.66%) compared to BGRO (6.57%). In terms of maximum drawdown, BGRO dropped -24.94% vs SPYG's -67.63%.

Which ETF is better, BGRO or SPYG?

On 1-year performance, SPYG leads with 25.88% vs 16.68% for BGRO. On fees, SPYG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGRO or SPYG?

Over the 1-year period, SPYG has performed better with a 25.88% return vs 16.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGRO or SPYG?

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

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

SPYG has the higher dividend yield at 0.48%, compared with 0.03% for BGRO.

What is the main difference between BGRO and SPYG?

BGRO is categorized as Large Cap Growth Equities, while SPYG is S&P 500. They also come from different issuers: iShares and State Street. Their fees differ too: 0.55% for BGRO and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.48 vs 0.85), 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.