QGRO vs. SPY

Last updated Jun 24, 2026

QGRO (American Century U.S. Quality Growth ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - QGRO is a Large Cap Growth Equities fund tracking the American Century U.S. Quality Growth Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, QGRO returned 11.09%/yr vs 13.05%/yr for SPY. Their correlation of 0.88 suggests significant overlap in exposure. QGRO charges 0.29%/yr vs 0.09%/yr for SPY.

Performance

QGRO vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century U.S. Quality Growth ETF (QGRO) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QGRO achieves a 0.33% return, which is significantly lower than SPY's 8.15% return.

QGRO

• 1D: -2.28%
• 1M: 0.28%
• YTD: 0.33%
• 6M: -1.37%
• 1Y: 9.28%
• 3Y*: 19.98%
• 5Y*: 11.09%
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

QGRO vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QGRO American Century U.S. Quality Growth ETF	0.33%	15.18%	31.42%	32.42%	-24.54%	24.57%	37.99%	35.09%	-16.08%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-12.64%

Correlation

The correlation between QGRO and SPY is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018	0.88

The correlation between QGRO and SPY has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

QGRO vs. SPY - Sectors Allocation Comparison

Sectors	QGRO	SPY
Technology	43.5%	39.0%
Communication Services	14.0%	10.6%
Healthcare	11.2%	8.3%
Industrials	10.6%	7.8%
Consumer Cyclical	8.4%	9.9%
Financial Services	3.9%	11.1%
Consumer Defensive	3.5%	4.5%
Utilities	2.5%	2.1%
Energy	1.2%	3.1%
Real Estate	0.8%	1.8%
Basic Materials	0.2%	1.7%

Return for Risk

QGRO vs. SPY — Risk / Return Rank

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

QGRO

QGRO Risk / Return Rank: 18
QGRO Sharpe Ratio Rank: 18
QGRO Sortino Ratio Rank: 17
QGRO Omega Ratio Rank: 17
QGRO Calmar Ratio Rank: 17
QGRO Martin Ratio Rank: 20

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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.

QGRO vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century U.S. Quality Growth ETF (QGRO) 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.

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.

	QGRO	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.90	-1.32
Sortino ratio: Return per unit of downside risk	0.91	2.58	-1.68
Omega ratio: Gain probability vs. loss probability	1.11	1.34	-0.24
Calmar ratio: Return relative to maximum drawdown	0.69	2.67	-1.98
Martin ratio: Return relative to average drawdown	2.30	11.92	-9.62

QGRO vs. SPY - Sharpe Ratio Comparison

The current QGRO Sharpe Ratio is 0.58, which is lower than the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of QGRO and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

QGRO vs. SPY - Drawdown Comparison

The maximum QGRO drawdown since its inception was -32.56%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for QGRO and SPY.

Drawdown Indicators

	QGRO	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-32.56%	-55.19%	+22.63%
Max Drawdown (1Y) Largest decline over 1 year	-13.54%	-8.88%	-4.66%
Max Drawdown (3Y) Largest decline over 3 years	-23.82%	-18.76%	-5.06%
Max Drawdown (5Y) Largest decline over 5 years	-31.86%	-24.50%	-7.36%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-3.00%	-3.17%	+0.17%
Average Drawdown Average peak-to-trough decline	-7.63%	-9.04%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.05%	1.98%	+2.07%

Volatility

QGRO vs. SPY - Volatility Comparison

American Century U.S. Quality Growth ETF (QGRO) has a higher volatility of 5.94% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that QGRO'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.

Volatility by Period

	QGRO	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	4.87%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	9.85%	+2.80%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	12.50%	+3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	17.15%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.93%	17.95%	+4.98%

QGRO vs. SPY - Expense Ratio Comparison

QGRO has a 0.29% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

QGRO vs. SPY - Dividend Comparison

QGRO's dividend yield for the trailing twelve months is around 0.25%, less than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QGRO American Century U.S. Quality Growth ETF	0.25%	0.25%	0.25%	0.41%	0.46%	0.31%	0.22%	0.38%	0.13%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both QGRO and SPY in my portfolio?

QGRO and SPY have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QGRO or SPY?

QGRO has higher volatility (5.94%) compared to SPY (4.87%). In terms of maximum drawdown, QGRO dropped -32.56% vs SPY's -55.19%.

Which ETF is better, QGRO or SPY?

On 5-year performance, SPY leads with 13.05% vs 11.09% for QGRO. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QGRO or SPY?

Over the 5-year period, SPY has performed better with a 13.05% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QGRO or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.29% for QGRO.

Which ETF pays a higher dividend yield, QGRO or SPY?

SPY has the higher dividend yield at 1.03%, compared with 0.25% for QGRO.

What is the main difference between QGRO and SPY?

QGRO is categorized as Large Cap Growth Equities, while SPY is S&P 500. QGRO tracks American Century U.S. Quality Growth Index, while SPY tracks S&P 500 Index. They also come from different issuers: American Century and State Street. Their fees differ too: 0.29% for QGRO and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.90 vs 0.58), 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.