BOUT vs. SPYG

Last updated Aug 1, 2026

BOUT (Innovator IBD Breakout Opportunities ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - BOUT is a Mid Cap Growth Equities fund tracking the IBD Breakout Stocks Total Return Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 5 years, BOUT returned 7.04%/yr vs 13.28%/yr for SPYG. Their 0.71 correlation means they have sometimes moved together and sometimes differently. BOUT charges 0.80%/yr vs 0.04%/yr for SPYG.

Performance

BOUT vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator IBD Breakout Opportunities ETF (BOUT) 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, BOUT achieves a 27.36% return, which is significantly higher than SPYG's 10.06% return.

BOUT

• 1D: 0.00%
• 1M: -1.72%
• 6M: 19.69%
• YTD: 27.36%
• 1Y: 26.50%
• 3Y*: 12.18%
• 5Y*: 7.04%
• 10Y*: —
• ALL TIME*: 8.61%

SPYG

• 1D: 1.45%
• 1M: -0.05%
• 6M: 9.50%
• YTD: 10.06%
• 1Y: 21.72%
• 3Y*: 24.04%
• 5Y*: 13.28%
• 10Y*: 17.38%
• ALL TIME*: 7.45%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOUT Innovator IBD Breakout Opportunities ETF	$64.60K	$107.52K	$108.59K
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$321.11M	$273.47M	$308.09M

BOUT vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BOUT Innovator IBD Breakout Opportunities ETF	27.36%	-6.77%	18.82%	13.27%	-22.60%	22.69%	50.56%	20.59%	-30.42%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	10.06%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-13.27%

Correlation

The correlation between BOUT and SPYG is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (All Time) Calculated using the full available price history since Sep 13, 2018	0.71

The correlation between BOUT and SPYG has been stable across timeframes, ranging from 0.70 to 0.71 - a consistent structural relationship.

BOUT vs. SPYG - Sectors Allocation Comparison

Sectors	BOUT	SPYG
Financial Services	37.6%	8.7%
Technology	26.9%	52.3%
Consumer Cyclical	8.7%	8.6%
Basic Materials	8.1%	0.3%
Healthcare	7.8%	6.2%
Utilities	7.0%	0.4%
Industrials	5.4%	6.4%
Real Estate	4.3%	0.6%
Communication Services	3.3%	15.6%
Consumer Defensive	0.9%	1.0%
Energy	0.4%	0.1%

Return for Risk

BOUT vs. SPYG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BOUT

BOUT Risk / Return Rank: 46
BOUT Sharpe Ratio Rank: 43
BOUT Sortino Ratio Rank: 42
BOUT Omega Ratio Rank: 40
BOUT Calmar Ratio Rank: 58
BOUT Martin Ratio Rank: 50

SPYG

SPYG Risk / Return Rank: 43
SPYG Sharpe Ratio Rank: 44
SPYG Sortino Ratio Rank: 44
SPYG Omega Ratio Rank: 41
SPYG Calmar Ratio Rank: 40
SPYG Martin Ratio Rank: 46

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BOUT vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator IBD Breakout Opportunities ETF (BOUT) 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.

	BOUT	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.08	-0.01
Sortino ratio: Return per unit of downside risk	1.55	1.58	-0.04
Omega ratio: Gain probability vs. loss probability	1.19	1.19	0.00
Calmar ratio: Return relative to maximum drawdown	2.05	1.42	+0.62
Martin ratio: Return relative to average drawdown	5.74	5.17	+0.57

BOUT vs. SPYG - Sharpe Ratio Comparison

The current BOUT Sharpe Ratio is 1.06, which is comparable to the SPYG Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of BOUT 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

BOUT vs. SPYG - Drawdown Comparison

The maximum BOUT drawdown since its inception was -36.98%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for BOUT and SPYG.

Drawdown Indicators

	BOUT	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-36.98%	-67.63%	+30.65%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-13.76%	+2.00%
Max Drawdown (3Y) Largest decline over 3 years	-25.31%	-22.14%	-3.17%
Max Drawdown (5Y) Largest decline over 5 years	-28.28%	-32.67%	+4.39%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	-5.50%	-4.33%	-1.17%
Average Drawdown Average peak-to-trough decline	-12.18%	-24.20%	+12.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.19%	3.78%	+0.41%

Volatility

BOUT vs. SPYG - Volatility Comparison

The current volatility for Innovator IBD Breakout Opportunities ETF (BOUT) is 5.34%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.08%. This indicates that BOUT experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOUT	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	6.08%	-0.74%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	14.85%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	22.61%	18.18%	+4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.79%	21.50%	-1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	20.79%	+2.18%

BOUT vs. SPYG - Expense Ratio Comparison

BOUT has a 0.80% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

BOUT vs. SPYG - Dividend Comparison

BOUT's dividend yield for the trailing twelve months is around 0.27%, less than SPYG's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BOUT Innovator IBD Breakout Opportunities ETF	0.27%	0.34%	0.60%	1.32%	1.35%	0.00%	0.00%	0.00%	0.22%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.49%	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 BOUT and SPYG in my portfolio?

BOUT and SPYG have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOUT or SPYG?

SPYG has higher volatility (6.08%) compared to BOUT (5.34%). In terms of maximum drawdown, BOUT dropped -36.98% vs SPYG's -67.63%.

Which ETF is better, BOUT or SPYG?

On 5-year performance, SPYG leads with 13.28% vs 7.04% for BOUT. On fees, SPYG is cheaper at 0.04% per year. On volatility, BOUT has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOUT or SPYG?

Over the 5-year period, SPYG has performed better with a 13.28% return vs 7.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOUT or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.80% for BOUT.

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

SPYG has the higher dividend yield at 0.49%, compared with 0.27% for BOUT.

What is the main difference between BOUT and SPYG?

BOUT is categorized as Mid Cap Growth Equities, while SPYG is S&P 500. BOUT tracks IBD Breakout Stocks Total Return Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: Innovator and State Street. Their fees differ too: 0.80% for BOUT and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.08 vs 1.06), 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.