IWLG vs. SPYG

Last updated Jun 5, 2026

IWLG (NYLI Winslow Large Cap Growth ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - IWLG is a Large Cap Growth Equities fund actively managed by NYLI, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. IWLG is actively managed, while SPYG is passively managed. Over the past 3 years, IWLG returned 23.30%/yr vs 28.20%/yr for SPYG. With a 0.96 correlation, they move nearly in lockstep. IWLG charges 0.50%/yr vs 0.04%/yr for SPYG.

Performance

IWLG vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI Winslow Large Cap Growth ETF (IWLG) 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, IWLG achieves a 5.65% return, which is significantly lower than SPYG's 13.73% return.

IWLG

• 1D: -0.28%
• 1M: 5.14%
• YTD: 5.65%
• 6M: 4.68%
• 1Y: 16.46%
• 3Y*: 23.30%
• 5Y*: —
• 10Y*: —

SPYG

• 1D: -0.02%
• 1M: 6.54%
• YTD: 13.73%
• 6M: 13.08%
• 1Y: 33.66%
• 3Y*: 28.20%
• 5Y*: 16.07%
• 10Y*: 18.16%

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

IWLG vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IWLG NYLI Winslow Large Cap Growth ETF	5.65%	14.73%	31.47%	43.25%	-0.01%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.73%	22.09%	35.99%	30.02%	-3.72%

Correlation

The correlation between IWLG 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 (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022	0.96

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

IWLG vs. SPYG - Sectors Allocation Comparison

Sectors	IWLG	SPYG
Technology	50.2%	51.9%
Communication Services	16.2%	16.8%
Industrials	11.4%	5.0%
Consumer Cyclical	9.2%	8.9%
Healthcare	5.6%	5.8%
Financial Services	4.5%	8.5%
Consumer Defensive	1.8%	1.0%
Utilities	1.1%	1.2%
Basic Materials	1.1%	0.3%
Energy	-	0.1%
Real Estate	-	0.6%

Return for Risk

IWLG vs. SPYG — Risk / Return Rank

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

IWLG

IWLG Risk / Return Rank: 25
IWLG Sharpe Ratio Rank: 29
IWLG Sortino Ratio Rank: 27
IWLG Omega Ratio Rank: 27
IWLG Calmar Ratio Rank: 20
IWLG Martin Ratio Rank: 22

SPYG

SPYG Risk / Return Rank: 60
SPYG Sharpe Ratio Rank: 65
SPYG Sortino Ratio Rank: 63
SPYG Omega Ratio Rank: 61
SPYG Calmar Ratio Rank: 51
SPYG Martin Ratio Rank: 58

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.

IWLG vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Winslow Large Cap Growth ETF (IWLG) 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.

	IWLG	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.01	2.11	-1.09
Sortino ratio: Return per unit of downside risk	1.46	2.88	-1.42
Omega ratio: Gain probability vs. loss probability	1.18	1.37	-0.18
Calmar ratio: Return relative to maximum drawdown	0.85	2.46	-1.61
Martin ratio: Return relative to average drawdown	2.59	10.17	-7.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWLG vs. SPYG - Sharpe Ratio Comparison

The current IWLG Sharpe Ratio is 1.01, which is lower than the SPYG Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of IWLG 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

	IWLG	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	2.11	-1.09
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	1.12	0.35	+0.76

Drawdowns

IWLG vs. SPYG - Drawdown Comparison

The maximum IWLG drawdown since its inception was -23.19%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for IWLG and SPYG.

Drawdown Indicators

	IWLG	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-23.19%	-67.63%	+44.44%
Max Drawdown (1Y) Largest decline over 1 year	-19.45%	-13.76%	-5.69%
Max Drawdown (3Y) Largest decline over 3 years	-23.19%	-22.14%	-1.05%
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	-1.34%	-1.15%	-0.19%
Average Drawdown Average peak-to-trough decline	-4.57%	-24.32%	+19.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.38%	3.32%	+3.06%

Volatility

IWLG vs. SPYG - Volatility Comparison

NYLI Winslow Large Cap Growth ETF (IWLG) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) have volatilities of 4.47% and 4.34%, 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

	IWLG	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.34%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	12.46%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.31%	16.06%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.95%	21.16%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.95%	20.64%	+0.31%

IWLG vs. SPYG - Expense Ratio Comparison

IWLG has a 0.50% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

IWLG vs. SPYG - Dividend Comparison

IWLG has not paid dividends to shareholders, while SPYG's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWLG NYLI Winslow Large Cap Growth ETF	0.00%	0.00%	1.34%	0.01%	0.05%	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 IWLG and SPYG in my portfolio?

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

IWLG has higher volatility (4.47%) compared to SPYG (4.34%). In terms of maximum drawdown, IWLG dropped -23.19% vs SPYG's -67.63%.

Which ETF is better, IWLG or SPYG?

On 3-year performance, SPYG leads with 28.20% vs 23.30% for IWLG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWLG or SPYG?

Over the 3-year period, SPYG has performed better with a 28.20% return vs 23.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWLG or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.50% for IWLG.

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

SPYG has the higher dividend yield at 0.47%, compared with 0.00% for IWLG.

What is the main difference between IWLG and SPYG?

IWLG is categorized as Large Cap Growth Equities, while SPYG is S&P 500. They also come from different issuers: NYLI and State Street. Their fees differ too: 0.50% for IWLG and 0.04% for SPYG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (2.11 vs 1.01), 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.