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IYW vs. SPYG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYW vs. SPYG

Last updated Jun 9, 2026

IYW (iShares U.S. Technology ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped 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, IYW returned 25.53%/yr vs 17.86%/yr for SPYG. Their correlation of 0.86 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.04%/yr for SPYG.

Performance

IYW vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Technology ETF (IYW) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYW achieves a 22.81% return, which is significantly higher than SPYG's 10.10% return. Over the past 10 years, IYW has outperformed SPYG with an annualized return of 25.53%, while SPYG has yielded a comparatively lower 17.86% annualized return.

IYW

1D
1.61%
1M
2.72%
YTD
22.81%
6M
20.20%
1Y
50.11%
3Y*
33.35%
5Y*
21.56%
10Y*
25.53%

SPYG

1D
0.66%
1M
-0.20%
YTD
10.10%
6M
9.48%
1Y
29.04%
3Y*
26.72%
5Y*
15.25%
10Y*
17.86%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYW vs. SPYG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYW
iShares U.S. Technology ETF		22.81%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%
SPYG
State Street SPDR Portfolio S&P 500 Growth ETF		10.10%22.09%35.99%30.02%-29.41%32.01%33.46%30.84%-0.12%27.24%

Correlation

The correlation between IYW and SPYG is 0.95, 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

0.95

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (10Y)
Calculated over the trailing 10-year period

0.95

Correlation (All Time)
Calculated using the full available price history since Oct 2, 2000

0.86

The correlation between IYW and SPYG shifts across timeframes, from 0.86 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares U.S. Technology ETF

State Street SPDR Portfolio S&P 500 Growth ETF

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Often compared with SPYG:
SPYG vs. SPYSPYG vs. SCHGSPYG vs. VOOSPYG vs. VUGSPYG vs. VOOGSPYG vs. SPYVSPYG vs. SPYM

Return for Risk

IYW vs. SPYG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYW
IYW Risk / Return Rank: 7070
Overall Rank
IYW Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 7373
Sortino Ratio Rank
IYW Omega Ratio Rank: 7676
Omega Ratio Rank
IYW Calmar Ratio Rank: 6262
Calmar Ratio Rank
IYW Martin Ratio Rank: 5858
Martin Ratio Rank
SPYG
SPYG Risk / Return Rank: 5454
Overall Rank
SPYG Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
SPYG Sortino Ratio Rank: 5555
Sortino Ratio Rank
SPYG Omega Ratio Rank: 5555
Omega Ratio Rank
SPYG Calmar Ratio Rank: 4747
Calmar Ratio Rank
SPYG Martin Ratio Rank: 5555
Martin Ratio Rank
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.

IYW vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.

IYWSPYGDifference
Sharpe ratioReturn per unit of total volatility
2.40
1.77

+0.63

Sortino ratioReturn per unit of downside risk
2.97
2.40

+0.56

Omega ratioGain probability vs. loss probability

1.40

1.31

+0.09

Calmar ratioReturn relative to maximum drawdown

2.83

2.12

+0.71

Martin ratioReturn relative to average drawdown

9.20

8.70

+0.50

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYW vs. SPYG - Sharpe Ratio Comparison

The current IYW Sharpe Ratio is 2.40, which is higher than the SPYG Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of IYW 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.

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Sharpe Ratios by Period

IYWSPYGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.40

1.77

+0.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.83

0.72

+0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.02

0.87

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.35

0.00

Drawdowns

IYW vs. SPYG - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, which is greater than SPYG's maximum drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for IYW and SPYG.

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Drawdown Indicators

IYWSPYGDifference

Max Drawdown

Largest peak-to-trough decline

-81.90%

-67.63%

-14.27%

Max Drawdown (1Y)

Largest decline over 1 year

-17.81%

-13.76%

-4.05%

Max Drawdown (3Y)

Largest decline over 3 years

-26.47%

-22.14%

-4.33%

Max Drawdown (5Y)

Largest decline over 5 years

-39.44%

-32.67%

-6.77%

Max Drawdown (10Y)

Largest decline over 10 years

-39.44%

-32.67%

-6.77%

Current Drawdown

Current decline from peak

-5.70%

-4.31%

-1.39%

Average Drawdown

Average peak-to-trough decline

-34.64%

-24.32%

-10.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.46%

3.35%

+2.11%

Volatility

IYW vs. SPYG - Volatility Comparison

iShares U.S. Technology ETF (IYW) has a higher volatility of 8.86% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 5.67%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier 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

IYWSPYGDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.86%

5.67%

+3.19%

Volatility (6M)

Calculated over the trailing 6-month period

17.10%

13.10%

+4.00%

Volatility (1Y)

Calculated over the trailing 1-year period

21.05%

16.53%

+4.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.01%

21.24%

+4.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.18%

20.69%

+4.49%

IYW vs. SPYG - Expense Ratio Comparison

IYW has a 0.38% expense ratio, which is higher than SPYG's 0.04% expense ratio.

Dividends

IYW vs. SPYG - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.11%, less than SPYG's 0.48% yield.

PositionTTM20252024202320222021202020192018201720162015
IYW
iShares U.S. Technology ETF		0.11%0.14%0.21%0.34%0.50%0.31%0.56%0.72%0.92%0.82%1.14%1.12%
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

With a correlation of 0.95, IYW 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.

IYW has higher volatility (8.86%) compared to SPYG (5.67%). In terms of maximum drawdown, IYW dropped -81.90% vs SPYG's -67.63%.

On 10-year performance, IYW leads with 25.53% vs 17.86% for SPYG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYW has performed better with a 25.53% return vs 17.86%. 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 0.38% for IYW.

SPYG has the higher dividend yield at 0.48%, compared with 0.11% for IYW.

IYW is categorized as Technology Equities, while SPYG is S&P 500. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IYW and 0.04% for SPYG.

IYW currently has the higher Sharpe Ratio (2.40 vs 1.77), 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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