SCHG vs. SPYG

Last updated Aug 4, 2026

SCHG (Schwab U.S. Large-Cap Growth ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market 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, SCHG returned 18.33%/yr vs 17.52%/yr for SPYG. Their 0.97 correlation means they have historically moved very closely together. Both charge a 0.04% expense ratio.

Performance

SCHG vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Growth ETF (SCHG) 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, SCHG achieves a 7.11% return, which is significantly lower than SPYG's 12.43% return. Both investments have delivered pretty close results over the past 10 years, with SCHG having a 18.33% annualized return and SPYG not far behind at 17.52%.

SCHG

• 1D: 2.02%
• 1M: 2.17%
• 6M: 8.95%
• YTD: 7.11%
• 1Y: 18.50%
• 3Y*: 23.37%
• 5Y*: 13.47%
• 10Y*: 18.33%
• ALL TIME*: 16.47%

SPYG

• 1D: 2.15%
• 1M: 2.10%
• 6M: 11.46%
• YTD: 12.43%
• 1Y: 24.33%
• 3Y*: 25.98%
• 5Y*: 13.61%
• 10Y*: 17.52%
• ALL TIME*: 7.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SCHG Schwab U.S. Large-Cap Growth ETF	$249.58M	$250.01M	$339.80M
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$323.67M	$273.71M	$308.17M

SCHG vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHG Schwab U.S. Large-Cap Growth ETF	7.11%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	12.43%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between SCHG and SPYG is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.97
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.97

The correlation between SCHG and SPYG has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

SCHG vs. SPYG - Sectors Allocation Comparison

Sectors	SCHG	SPYG
Technology	44.0%	52.3%
Communication Services	14.1%	15.6%
Consumer Cyclical	11.2%	8.6%
Healthcare	9.9%	6.2%
Financial Services	7.7%	8.7%
Industrials	7.6%	6.4%
Consumer Defensive	1.9%	1.0%
Basic Materials	1.6%	0.3%
Energy	0.9%	0.1%
Real Estate	0.6%	0.6%
Utilities	0.5%	0.4%

Return for Risk

SCHG vs. SPYG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SCHG

SCHG Risk / Return Rank: 39
SCHG Sharpe Ratio Rank: 44
SCHG Sortino Ratio Rank: 43
SCHG Omega Ratio Rank: 41
SCHG Calmar Ratio Rank: 34
SCHG Martin Ratio Rank: 36

SPYG

SPYG Risk / Return Rank: 53
SPYG Sharpe Ratio Rank: 55
SPYG Sortino Ratio Rank: 54
SPYG Omega Ratio Rank: 52
SPYG Calmar Ratio Rank: 48
SPYG Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SCHG vs. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth ETF (SCHG) 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.

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.

	SCHG	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.34	-0.23
Sortino ratio: Return per unit of downside risk	1.59	1.93	-0.34
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.13	1.78	-0.64
Martin ratio: Return relative to average drawdown	3.58	6.45	-2.87

SCHG vs. SPYG - Sharpe Ratio Comparison

The current SCHG Sharpe Ratio is 1.12, which is comparable to the SPYG Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of SCHG 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.

Drawdowns

SCHG vs. SPYG - Drawdown Comparison

The maximum SCHG drawdown since its inception was -34.59%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for SCHG and SPYG.

Drawdown Indicators

	SCHG	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-67.63%	+33.04%
Max Drawdown (1Y) Largest decline over 1 year	-16.41%	-13.76%	-2.65%
Max Drawdown (3Y) Largest decline over 3 years	-23.39%	-22.14%	-1.25%
Max Drawdown (5Y) Largest decline over 5 years	-34.59%	-32.67%	-1.92%
Max Drawdown (10Y) Largest decline over 10 years	-34.59%	-32.67%	-1.92%
Current Drawdown Current decline from peak	-1.15%	-2.28%	+1.13%
Average Drawdown Average peak-to-trough decline	-5.19%	-24.20%	+19.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	3.78%	+1.41%

Volatility

SCHG vs. SPYG - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap Growth ETF (SCHG) is 4.76%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.35%. This indicates that SCHG experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCHG	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	6.35%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	14.96%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	18.23%	-1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	21.53%	+0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.60%	20.81%	+0.79%

SCHG vs. SPYG - Expense Ratio Comparison

Both SCHG and SPYG have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SCHG vs. SPYG - Dividend Comparison

SCHG's dividend yield for the trailing twelve months is around 0.38%, less than SPYG's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
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

Can I hold both SCHG and SPYG in my portfolio?

With a correlation of 0.94, SCHG 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, SCHG or SPYG?

SPYG has higher volatility (6.35%) compared to SCHG (4.76%). In terms of maximum drawdown, SCHG dropped -34.59% vs SPYG's -67.63%.

Which ETF is better, SCHG or SPYG?

On 10-year performance, SCHG leads with 18.33% vs 17.52% for SPYG. Both ETFs have the same 0.04% expense ratio. On volatility, SCHG has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHG or SPYG?

Over the 10-year period, SCHG has performed better with a 18.33% return vs 17.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHG or SPYG?

SCHG and SPYG have the same expense ratio: 0.04% per year.

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

SPYG has the higher dividend yield at 0.48%, compared with 0.38% for SCHG.

What is the main difference between SCHG and SPYG?

SCHG is categorized as Large Cap Growth Equities, while SPYG is S&P 500. SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPYG tracks S&P 500 Growth Index. They also come from different issuers: Charles Schwab and State Street.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.34 vs 1.12), 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.