ICF vs. SPYG
ICF (iShares Cohen & Steers REIT ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - ICF is a REIT fund tracking the Cohen & Steers Realty Majors Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, ICF returned 5.99%/yr vs 17.91%/yr for SPYG. A 0.52 correlation means they provide meaningful diversification when combined. ICF charges 0.34%/yr vs 0.04%/yr for SPYG.
Performance
ICF vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, ICF achieves a 16.93% return, which is significantly higher than SPYG's 9.70% return. Over the past 10 years, ICF has underperformed SPYG with an annualized return of 5.99%, while SPYG has yielded a comparatively higher 17.91% annualized return.
ICF
- 1D
- 0.96%
- 1M
- 3.62%
- YTD
- 16.93%
- 6M
- 17.09%
- 1Y
- 15.91%
- 3Y*
- 11.06%
- 5Y*
- 3.38%
- 10Y*
- 5.99%
SPYG
- 1D
- 0.41%
- 1M
- -2.81%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
ICF vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 16.93% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.12% | 27.24% |
Correlation
The correlation between ICF and SPYG is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2001 | 0.52 |
Over the past year, the correlation between ICF and SPYG has dropped to 0.06 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
ICF vs. SPYG — Risk / Return Rank
ICF
SPYG
ICF vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) 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.
| ICF | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.01 | -0.19 |
| Martin ratioReturn relative to average drawdown | 5.18 | 8.08 | -2.91 |
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Drawdowns
ICF vs. SPYG - Drawdown Comparison
The maximum ICF drawdown since its inception was -76.74%, which is greater than SPYG's maximum drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for ICF and SPYG.
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Drawdown Indicators
| ICF | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -67.63% | -9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -13.76% | +5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -17.25% | -22.14% | +4.89% |
Max Drawdown (5Y)Largest decline over 5 years | -34.74% | -32.67% | -2.07% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -32.67% | -7.55% |
Current DrawdownCurrent decline from peak | 0.00% | -4.65% | +4.65% |
Average DrawdownAverage peak-to-trough decline | -14.16% | -24.30% | +10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 3.42% | -0.53% |
Volatility
ICF vs. SPYG - Volatility Comparison
The current volatility for iShares Cohen & Steers REIT ETF (ICF) is 4.74%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.33%. This indicates that ICF 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.
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Volatility by Period
| ICF | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 6.33% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 13.48% | -3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 16.81% | -2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 21.27% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.60% | 20.70% | -0.10% |
ICF vs. SPYG - Expense Ratio Comparison
ICF has a 0.34% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
ICF vs. SPYG - Dividend Comparison
ICF's dividend yield for the trailing twelve months is around 2.38%, more than SPYG's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 2.38% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
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
ICF and SPYG have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.33%) compared to ICF (4.74%). In terms of maximum drawdown, ICF dropped -76.74% vs SPYG's -67.63%.
On 10-year performance, SPYG leads with 17.91% vs 5.99% for ICF. On fees, SPYG is cheaper at 0.04% per year. On volatility, ICF has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYG has performed better with a 17.91% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.34% for ICF.
ICF has the higher dividend yield at 2.38%, compared with 0.48% for SPYG.
ICF is categorized as REIT, while SPYG is S&P 500. ICF tracks Cohen & Steers Realty Majors Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.34% for ICF and 0.04% for SPYG.
SPYG currently has the higher Sharpe Ratio (1.65 vs 1.07), 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.
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