EFIV vs. SPYG

Last updated Jun 24, 2026

EFIV (State Street SPDR S&P 500 ESG ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both S&P 500 funds from State Street - EFIV tracks the S&P 500 ESG Index while SPYG tracks the S&P 500 Growth Index. Both are passively managed. Over the past 5 years, EFIV returned 13.94%/yr vs 14.11%/yr for SPYG. Their correlation of 0.94 suggests significant overlap in exposure. EFIV charges 0.10%/yr vs 0.04%/yr for SPYG.

Performance

EFIV vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 ESG ETF (EFIV) 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

As of year-to-date, both investments have demonstrated similar returns, with EFIV at 8.70% and SPYG at 8.70%.

EFIV

• 1D: -1.65%
• 1M: -0.29%
• YTD: 8.70%
• 6M: 8.03%
• 1Y: 27.67%
• 3Y*: 20.78%
• 5Y*: 13.94%
• 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)

EFIV vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EFIV State Street SPDR S&P 500 ESG ETF	8.70%	18.47%	23.80%	27.92%	-17.76%	31.70%	16.38%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	8.70%	22.09%	35.99%	30.02%	-29.41%	32.01%	17.65%

Correlation

The correlation between EFIV and SPYG is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jul 28, 2020	0.94

The correlation between EFIV and SPYG has been stable across timeframes, ranging from 0.90 to 0.95 - a consistent structural relationship.

EFIV vs. SPYG - Sectors Allocation Comparison

Sectors	EFIV	SPYG
Technology	38.0%	52.1%
Communication Services	12.6%	15.9%
Financial Services	12.3%	9.0%
Healthcare	10.6%	5.9%
Industrials	8.2%	5.4%
Consumer Defensive	5.1%	1.0%
Consumer Cyclical	5.0%	8.5%
Energy	2.7%	0.1%
Real Estate	2.2%	0.6%
Basic Materials	2.0%	0.3%
Utilities	1.4%	1.2%

Return for Risk

EFIV vs. SPYG — Risk / Return Rank

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

EFIV

EFIV Risk / Return Rank: 71
EFIV Sharpe Ratio Rank: 74
EFIV Sortino Ratio Rank: 72
EFIV Omega Ratio Rank: 72
EFIV Calmar Ratio Rank: 63
EFIV Martin Ratio Rank: 74

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.

EFIV vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 ESG ETF (EFIV) 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.

	EFIV	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.57	+0.66
Sortino ratio: Return per unit of downside risk	3.05	2.17	+0.89
Omega ratio: Gain probability vs. loss probability	1.40	1.28	+0.12
Calmar ratio: Return relative to maximum drawdown	2.94	1.96	+0.98
Martin ratio: Return relative to average drawdown	13.37	7.79	+5.58

EFIV vs. SPYG - Sharpe Ratio Comparison

The current EFIV Sharpe Ratio is 2.23, which is higher than the SPYG Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of EFIV 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

EFIV vs. SPYG - Drawdown Comparison

The maximum EFIV drawdown since its inception was -24.52%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for EFIV and SPYG.

Drawdown Indicators

	EFIV	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-24.52%	-67.63%	+43.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-13.76%	+4.32%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-22.14%	+2.91%
Max Drawdown (5Y) Largest decline over 5 years	-24.52%	-32.67%	+8.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.67%	—
Current Drawdown Current decline from peak	-2.43%	-5.52%	+3.09%
Average Drawdown Average peak-to-trough decline	-4.78%	-24.28%	+19.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	3.46%	-1.39%

Volatility

EFIV vs. SPYG - Volatility Comparison

The current volatility for State Street SPDR S&P 500 ESG ETF (EFIV) is 5.15%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 7.26%. This indicates that EFIV 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

	EFIV	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	7.26%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	10.07%	13.90%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	17.26%	-4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	21.36%	-4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	20.73%	-3.86%

EFIV vs. SPYG - Expense Ratio Comparison

EFIV has a 0.10% expense ratio, which is higher than SPYG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EFIV vs. SPYG - Dividend Comparison

EFIV's dividend yield for the trailing twelve months is around 0.98%, more than SPYG's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFIV State Street SPDR S&P 500 ESG ETF	0.98%	1.03%	1.20%	1.37%	1.64%	1.19%	0.65%	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 EFIV and SPYG in my portfolio?

With a correlation of 0.90, EFIV 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, EFIV or SPYG?

SPYG has higher volatility (7.26%) compared to EFIV (5.15%). In terms of maximum drawdown, EFIV dropped -24.52% vs SPYG's -67.63%.

Which ETF is better, EFIV or SPYG?

On 5-year performance, SPYG leads with 14.11% vs 13.94% for EFIV. On fees, SPYG is cheaper at 0.04% per year. On volatility, EFIV has been the lower-risk option at 5.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFIV or SPYG?

Over the 5-year period, SPYG has performed better with a 14.11% return vs 13.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFIV or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.10% for EFIV.

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

EFIV has the higher dividend yield at 0.98%, compared with 0.50% for SPYG.

What is the main difference between EFIV and SPYG?

EFIV tracks S&P 500 ESG Index, while SPYG tracks S&P 500 Growth Index. Their fees differ too: 0.10% for EFIV and 0.04% for SPYG.

Which has better risk-adjusted returns?

EFIV currently has the higher Sharpe Ratio (2.23 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.