PGSGX vs. SPY
Compare and contrast key facts about JPMorgan Small Cap Growth Fund (PGSGX) and State Street SPDR S&P 500 ETF (SPY).
PGSGX is managed by JPMorgan. It was launched on Jul 1, 1991. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
PGSGX vs. SPY - Performance Comparison
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PGSGX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGSGX JPMorgan Small Cap Growth Fund | -0.91% | 6.21% | 12.45% | 13.85% | -32.43% | -6.17% | 59.18% | 37.15% | -4.65% | 41.26% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, PGSGX achieves a -0.91% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, PGSGX has underperformed SPY with an annualized return of 11.47%, while SPY has yielded a comparatively higher 14.06% annualized return.
PGSGX
- 1D
- 5.19%
- 1M
- -5.68%
- YTD
- -0.91%
- 6M
- 0.60%
- 1Y
- 19.24%
- 3Y*
- 8.83%
- 5Y*
- -3.19%
- 10Y*
- 11.47%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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PGSGX vs. SPY - Expense Ratio Comparison
PGSGX has a 1.24% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
PGSGX vs. SPY — Risk / Return Rank
PGSGX
SPY
PGSGX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Small Cap Growth Fund (PGSGX) and State Street SPDR S&P 500 ETF (SPY). 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.
| PGSGX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.75 | 0.96 | -0.21 |
Sortino ratioReturn per unit of downside risk | 1.22 | 1.49 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.53 | -0.37 |
Martin ratioReturn relative to average drawdown | 4.04 | 7.27 | -3.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGSGX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.96 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | 0.70 | -0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.79 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.56 | -0.14 |
Correlation
The correlation between PGSGX and SPY is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PGSGX vs. SPY - Dividend Comparison
PGSGX's dividend yield for the trailing twelve months is around 7.46%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGSGX JPMorgan Small Cap Growth Fund | 7.46% | 7.40% | 0.59% | 0.00% | 0.48% | 15.83% | 7.15% | 6.21% | 14.97% | 8.27% | 3.72% | 8.72% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
PGSGX vs. SPY - Drawdown Comparison
The maximum PGSGX drawdown since its inception was -60.90%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PGSGX and SPY.
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Drawdown Indicators
| PGSGX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.90% | -55.19% | -5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -15.12% | -12.05% | -3.07% |
Max Drawdown (5Y)Largest decline over 5 years | -45.33% | -24.50% | -20.83% |
Max Drawdown (10Y)Largest decline over 10 years | -47.84% | -33.72% | -14.12% |
Current DrawdownCurrent decline from peak | -22.78% | -5.53% | -17.25% |
Average DrawdownAverage peak-to-trough decline | -14.17% | -9.09% | -5.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 2.54% | +1.83% |
Volatility
PGSGX vs. SPY - Volatility Comparison
JPMorgan Small Cap Growth Fund (PGSGX) has a higher volatility of 10.04% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that PGSGX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGSGX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.04% | 5.35% | +4.69% |
Volatility (6M)Calculated over the trailing 6-month period | 16.86% | 9.50% | +7.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.10% | 19.06% | +7.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.53% | 17.06% | +8.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.32% | 17.92% | +7.40% |