SLYG vs. SPYD

Last updated Jun 25, 2026

SLYG (SPDR S&P 600 Small Cap Growth ETF) and SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) are both exchange-traded funds - SLYG is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 Growth Index, while SPYD is a S&P 500 fund tracking the S&P 500 High Dividend Index. Both are passively managed. Over the past 10 years, SLYG returned 11.84%/yr vs 8.89%/yr for SPYD. A 0.73 correlation means they provide meaningful diversification when combined. SLYG charges 0.15%/yr vs 0.07%/yr for SPYD.

Performance

SLYG vs. SPYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 600 Small Cap Growth ETF (SLYG) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLYG achieves a 22.87% return, which is significantly higher than SPYD's 12.86% return. Over the past 10 years, SLYG has outperformed SPYD with an annualized return of 11.84%, while SPYD has yielded a comparatively lower 8.89% annualized return.

SLYG

• 1D: 1.27%
• 1M: 6.87%
• YTD: 22.87%
• 6M: 18.91%
• 1Y: 32.06%
• 3Y*: 17.21%
• 5Y*: 6.48%
• 10Y*: 11.84%

SPYD

• 1D: 0.27%
• 1M: 1.28%
• YTD: 12.86%
• 6M: 12.37%
• 1Y: 17.98%
• 3Y*: 15.26%
• 5Y*: 7.92%
• 10Y*: 8.89%

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

SLYG vs. SPYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLYG SPDR S&P 600 Small Cap Growth ETF	22.87%	5.20%	9.38%	17.27%	-21.26%	22.42%	19.48%	20.97%	-4.20%	14.62%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	12.86%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%

Correlation

The correlation between SLYG and SPYD is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Oct 22, 2015	0.73

The correlation between SLYG and SPYD shifts across timeframes, from 0.59 (1 year) to 0.73 (10 years), reflecting how their relationship changes across market environments.

SLYG vs. SPYD - Sectors Allocation Comparison

Sectors	SLYG	SPYD
Technology	19.9%	3.2%
Industrials	18.9%	2.3%
Healthcare	15.1%	5.3%
Financial Services	13.6%	11.9%
Consumer Cyclical	11.0%	7.3%
Real Estate	6.3%	26.5%
Energy	4.6%	8.5%
Consumer Defensive	3.0%	16.0%
Communication Services	2.9%	4.8%
Basic Materials	2.8%	3.0%
Utilities	1.8%	11.2%

Return for Risk

SLYG vs. SPYD — Risk / Return Rank

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

SLYG

SLYG Risk / Return Rank: 66
SLYG Sharpe Ratio Rank: 61
SLYG Sortino Ratio Rank: 64
SLYG Omega Ratio Rank: 55
SLYG Calmar Ratio Rank: 77
SLYG Martin Ratio Rank: 74

SPYD

SPYD Risk / Return Rank: 50
SPYD Sharpe Ratio Rank: 49
SPYD Sortino Ratio Rank: 52
SPYD Omega Ratio Rank: 44
SPYD Calmar Ratio Rank: 58
SPYD Martin Ratio Rank: 48

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.

SLYG vs. SPYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 600 Small Cap Growth ETF (SLYG) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.

	SLYG	SPYD	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.52	+0.27
Sortino ratio: Return per unit of downside risk	2.64	2.28	+0.36
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	3.54	2.56	+0.98
Martin ratio: Return relative to average drawdown	12.46	7.37	+5.09

SLYG vs. SPYD - Sharpe Ratio Comparison

The current SLYG Sharpe Ratio is 1.80, which is comparable to the SPYD Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of SLYG and SPYD, 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

SLYG vs. SPYD - Drawdown Comparison

The maximum SLYG drawdown since its inception was -62.92%, which is greater than SPYD's maximum drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for SLYG and SPYD.

Drawdown Indicators

	SLYG	SPYD	Difference
Max Drawdown Largest peak-to-trough decline	-62.92%	-46.42%	-16.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-7.05%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	-16.13%	-11.26%
Max Drawdown (5Y) Largest decline over 5 years	-29.18%	-22.25%	-6.93%
Max Drawdown (10Y) Largest decline over 10 years	-41.86%	-46.42%	+4.56%
Current Drawdown Current decline from peak	0.00%	-1.62%	+1.62%
Average Drawdown Average peak-to-trough decline	-14.88%	-6.14%	-8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.45%	+0.13%

Volatility

SLYG vs. SPYD - Volatility Comparison

SPDR S&P 600 Small Cap Growth ETF (SLYG) has a higher volatility of 5.34% compared to State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 3.56%. This indicates that SLYG's price experiences larger fluctuations and is considered to be riskier than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLYG	SPYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	3.56%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	8.04%	+4.98%
Volatility (1Y) Calculated over the trailing 1-year period	17.93%	11.86%	+6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.56%	16.07%	+5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.74%	19.78%	+2.96%

SLYG vs. SPYD - Expense Ratio Comparison

SLYG has a 0.15% expense ratio, which is higher than SPYD's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SLYG vs. SPYD - Dividend Comparison

SLYG's dividend yield for the trailing twelve months is around 0.66%, less than SPYD's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLYG SPDR S&P 600 Small Cap Growth ETF	0.66%	0.86%	1.22%	1.18%	1.18%	0.68%	0.71%	1.08%	1.06%	4.74%	1.13%	5.75%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.25%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

Can I hold both SLYG and SPYD in my portfolio?

SLYG and SPYD have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLYG or SPYD?

SLYG has higher volatility (5.34%) compared to SPYD (3.56%). In terms of maximum drawdown, SLYG dropped -62.92% vs SPYD's -46.42%.

Which ETF is better, SLYG or SPYD?

On 10-year performance, SLYG leads with 11.84% vs 8.89% for SPYD. On fees, SPYD is cheaper at 0.07% per year. On volatility, SPYD has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLYG or SPYD?

Over the 10-year period, SLYG has performed better with a 11.84% return vs 8.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLYG or SPYD?

SPYD is cheaper with a 0.07% expense ratio, compared with 0.15% for SLYG.

Which ETF pays a higher dividend yield, SLYG or SPYD?

SPYD has the higher dividend yield at 4.25%, compared with 0.66% for SLYG.

What is the main difference between SLYG and SPYD?

SLYG is categorized as Small Cap Growth Equities, while SPYD is S&P 500. SLYG tracks S&P SmallCap 600 Growth Index, while SPYD tracks S&P 500 High Dividend Index. Their fees differ too: 0.15% for SLYG and 0.07% for SPYD.

Which has better risk-adjusted returns?

SLYG currently has the higher Sharpe Ratio (1.80 vs 1.52), 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.