CARK vs. SPYG

Last updated Jun 4, 2026

CARK (Castleark Large Growth ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - CARK is a Large Cap Growth Equities fund actively managed by CastleArk, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. CARK is actively managed, while SPYG is passively managed. Over the past year, CARK returned 22.33% vs 33.95% for SPYG. With a 0.96 correlation, they move nearly in lockstep. CARK charges 0.54%/yr vs 0.04%/yr for SPYG.

Performance

CARK vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castleark Large Growth ETF (CARK) 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, CARK achieves a 8.34% return, which is significantly lower than SPYG's 13.75% return.

CARK

• 1D: -1.13%
• 1M: 5.14%
• YTD: 8.34%
• 6M: 8.76%
• 1Y: 22.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

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

CARK vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CARK Castleark Large Growth ETF	8.34%	10.84%	26.49%	3.57%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.75%	22.09%	35.99%	3.40%

Correlation

The correlation between CARK and SPYG is 0.96 - 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	0.96
Correlation (All Time) Calculated using the full available price history since Dec 8, 2023	0.96

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

CARK vs. SPYG - Sectors Allocation Comparison

Sectors	CARK	SPYG
Technology	55.1%	51.9%
Communication Services	15.8%	16.8%
Consumer Cyclical	8.7%	8.9%
Financial Services	8.5%	8.5%
Healthcare	6.5%	5.8%
Industrials	5.5%	5.0%
Basic Materials	-	0.3%
Consumer Defensive	-	1.0%
Energy	-	0.1%
Real Estate	-	0.6%
Utilities	-	1.2%

Return for Risk

CARK vs. SPYG — Risk / Return Rank

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

CARK

CARK Risk / Return Rank: 34
CARK Sharpe Ratio Rank: 37
CARK Sortino Ratio Rank: 35
CARK Omega Ratio Rank: 35
CARK Calmar Ratio Rank: 29
CARK Martin Ratio Rank: 32

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

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.

CARK vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castleark Large Growth ETF (CARK) 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.

	CARK	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.32	2.12	-0.81
Sortino ratio: Return per unit of downside risk	1.83	2.90	-1.07
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.36	2.48	-1.12
Martin ratio: Return relative to average drawdown	4.59	10.25	-5.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CARK vs. SPYG - Sharpe Ratio Comparison

The current CARK Sharpe Ratio is 1.32, which is lower than the SPYG Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of CARK 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.

Sharpe Ratios by Period

	CARK	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	2.12	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.76	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.97	0.35	+0.62

Drawdowns

CARK vs. SPYG - Drawdown Comparison

The maximum CARK drawdown since its inception was -25.22%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for CARK and SPYG.

Drawdown Indicators

	CARK	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-25.22%	-67.63%	+42.41%
Max Drawdown (1Y) Largest decline over 1 year	-16.50%	-13.76%	-2.74%
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	-1.58%	-1.13%	-0.45%
Average Drawdown Average peak-to-trough decline	-4.44%	-24.33%	+19.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	3.32%	+1.55%

Volatility

CARK vs. SPYG - Volatility Comparison

The current volatility for Castleark Large Growth ETF (CARK) is 3.92%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 4.35%. This indicates that CARK 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

	CARK	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	4.35%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.46%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	16.06%	+1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.70%	21.17%	-0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	20.64%	+0.06%

CARK vs. SPYG - Expense Ratio Comparison

CARK has a 0.54% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

CARK vs. SPYG - Dividend Comparison

CARK's dividend yield for the trailing twelve months is around 0.01%, less than SPYG's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARK Castleark Large Growth ETF	0.01%	0.01%	0.02%	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	0.47%	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 CARK and SPYG in my portfolio?

With a correlation of 0.96, CARK 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, CARK or SPYG?

SPYG has higher volatility (4.35%) compared to CARK (3.92%). In terms of maximum drawdown, CARK dropped -25.22% vs SPYG's -67.63%.

Which ETF is better, CARK or SPYG?

On 1-year performance, SPYG leads with 33.95% vs 22.33% for CARK. On fees, SPYG is cheaper at 0.04% per year. On volatility, CARK has been the lower-risk option at 3.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CARK or SPYG?

Over the 1-year period, SPYG has performed better with a 33.95% return vs 22.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CARK or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.54% for CARK.

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

SPYG has the higher dividend yield at 0.47%, compared with 0.01% for CARK.

What is the main difference between CARK and SPYG?

CARK is categorized as Large Cap Growth Equities, while SPYG is S&P 500. They also come from different issuers: CastleArk and State Street. Their fees differ too: 0.54% for CARK and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (2.12 vs 1.32), 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.