MGK vs. SPHY
MGK (Vanguard Mega Cap Growth ETF) and SPHY (SPDR Portfolio High Yield Bond ETF) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while SPHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Index. Both are passively managed. Over the past 10 years, MGK returned 18.26%/yr vs 4.92%/yr for SPHY. Their 0.43 correlation means their historical movements had little consistent relationship. Both charge a 0.05% expense ratio.
Performance
MGK vs. SPHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MGK achieves a 4.77% return, which is significantly higher than SPHY's 1.84% return. Over the past 10 years, MGK has outperformed SPHY with an annualized return of 18.26%, while SPHY has yielded a comparatively lower 4.92% annualized return.
MGK
- 1D
- 1.11%
- 1M
- -1.80%
- 6M
- 6.56%
- YTD
- 4.77%
- 1Y
- 13.84%
- 3Y*
- 21.79%
- 5Y*
- 13.06%
- 10Y*
- 18.26%
- ALL TIME*
- 13.36%
SPHY
- 1D
- 0.04%
- 1M
- -0.17%
- 6M
- 1.20%
- YTD
- 1.84%
- 1Y
- 5.46%
- 3Y*
- 8.43%
- 5Y*
- 4.19%
- 10Y*
- 4.92%
- ALL TIME*
- 4.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $119.42M | $123.75M | $142.35M | |
| $242.17M | $164.39M | $124.54M |
MGK vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGK Vanguard Mega Cap Growth ETF | 4.77% | 20.67% | 32.94% | 51.67% | -33.59% | 28.58% | 41.01% | 37.38% | -2.91% | 29.49% |
SPHY SPDR Portfolio High Yield Bond ETF | 1.84% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Correlation
The correlation between MGK and SPHY is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.64 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2012 | 0.43 |
Over the past year, MGK and SPHY have become more correlated (0.64) than their long-term average of 0.43, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MGK vs. SPHY — Risk / Return Rank
MGK
SPHY
MGK vs. SPHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
| MGK | SPHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 2.27 | -1.45 |
| Martin ratioReturn relative to average drawdown | 2.57 | 10.10 | -7.53 |
Loading charts...
Drawdowns
MGK vs. SPHY - Drawdown Comparison
The maximum MGK drawdown since its inception was -48.43%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for MGK and SPHY.
Loading charts...
Drawdown Indicators
| MGK | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.43% | -21.97% | -26.46% |
Max Drawdown (1Y)Largest decline over 1 year | -16.85% | -2.41% | -14.44% |
Max Drawdown (3Y)Largest decline over 3 years | -23.36% | -4.85% | -18.51% |
Max Drawdown (5Y)Largest decline over 5 years | -36.01% | -15.29% | -20.72% |
Max Drawdown (10Y)Largest decline over 10 years | -36.01% | -21.97% | -14.04% |
Current DrawdownCurrent decline from peak | -6.13% | -0.43% | -5.70% |
Average DrawdownAverage peak-to-trough decline | -7.57% | -2.27% | -5.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.40% | 0.54% | +4.86% |
Volatility
MGK vs. SPHY - Volatility Comparison
Vanguard Mega Cap Growth ETF (MGK) has a higher volatility of 5.90% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 0.75%. This indicates that MGK's price experiences larger fluctuations and is considered to be riskier than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MGK | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 0.75% | +5.15% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 3.02% | +11.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.25% | 3.67% | +14.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.93% | 7.18% | +15.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.02% | 7.83% | +14.19% |
MGK vs. SPHY - Expense Ratio Comparison
Both MGK and SPHY have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
MGK vs. SPHY - Dividend Comparison
MGK's dividend yield for the trailing twelve months is around 0.34%, less than SPHY's 7.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGK Vanguard Mega Cap Growth ETF | 0.34% | 0.35% | 0.43% | 0.50% | 0.70% | 0.41% | 0.65% | 0.85% | 1.12% | 1.23% | 1.53% | 1.43% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.25% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
Frequently Asked Questions
MGK and SPHY have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGK has higher volatility (5.90%) compared to SPHY (0.75%). In terms of maximum drawdown, MGK dropped -48.43% vs SPHY's -21.97%.
On 10-year performance, MGK leads with 18.26% vs 4.92% for SPHY. Both ETFs have the same 0.05% expense ratio. On volatility, SPHY has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MGK has performed better with a 18.26% return vs 4.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGK and SPHY have the same expense ratio: 0.05% per year.
SPHY has the higher dividend yield at 7.25%, compared with 0.34% for MGK.
MGK is categorized as Large Cap Growth Equities, while SPHY is High Yield Bonds. MGK tracks CRSP US Mega Cap Growth Index, while SPHY tracks ICE BofA US High Yield Index. They also come from different issuers: Vanguard and State Street.
SPHY currently has the higher Sharpe Ratio (1.49 vs 0.76), 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.
Find the right allocation for MGK and SPHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer