SPDV vs. VOOG

Last updated Jun 4, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index, while VOOG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 5 years, SPDV returned 8.17%/yr vs 16.03%/yr for VOOG. A 0.54 correlation means they provide meaningful diversification when combined. SPDV charges 0.29%/yr vs 0.07%/yr for VOOG.

Performance

SPDV vs. VOOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SPDV having a 14.19% return and VOOG slightly lower at 13.78%.

SPDV

• 1D: -0.38%
• 1M: 3.73%
• YTD: 14.19%
• 6M: 14.91%
• 1Y: 27.39%
• 3Y*: 16.86%
• 5Y*: 8.17%
• 10Y*: —

VOOG

• 1D: -0.93%
• 1M: 7.44%
• YTD: 13.78%
• 6M: 13.58%
• 1Y: 34.04%
• 3Y*: 28.13%
• 5Y*: 16.03%
• 10Y*: 18.15%

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

SPDV vs. VOOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPDV AAM S&P 500 High Dividend Value ETF	14.19%	10.90%	14.40%	5.45%	-2.27%	29.54%	-6.09%	20.46%	-6.59%	3.65%
VOOG Vanguard S&P 500 Growth ETF	13.78%	22.11%	35.89%	29.96%	-29.48%	31.95%	33.35%	30.93%	-0.21%	1.56%

Correlation

The correlation between SPDV and VOOG is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.54

Over the past year, the correlation between SPDV and VOOG has dropped to 0.26 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

SPDV vs. VOOG - Sectors Allocation Comparison

Sectors	SPDV	VOOG
Consumer Cyclical	13.5%	9.4%
Energy	12.3%	0.1%
Technology	11.1%	49.4%
Healthcare	9.7%	5.8%
Financial Services	9.2%	8.8%
Consumer Defensive	9.1%	1.0%
Real Estate	8.7%	0.6%
Industrials	7.8%	6.2%
Communication Services	7.8%	18.0%
Utilities	5.8%	0.4%
Basic Materials	5.1%	0.4%

Return for Risk

SPDV vs. VOOG — Risk / Return Rank

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

SPDV

SPDV Risk / Return Rank: 73
SPDV Sharpe Ratio Rank: 68
SPDV Sortino Ratio Rank: 73
SPDV Omega Ratio Rank: 65
SPDV Calmar Ratio Rank: 85
SPDV Martin Ratio Rank: 72

VOOG

VOOG Risk / Return Rank: 58
VOOG Sharpe Ratio Rank: 63
VOOG Sortino Ratio Rank: 61
VOOG Omega Ratio Rank: 59
VOOG Calmar Ratio Rank: 50
VOOG Martin Ratio Rank: 58

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.

SPDV vs. VOOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and Vanguard S&P 500 Growth ETF (VOOG). 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.

	SPDV	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.16	+0.10
Sortino ratio: Return per unit of downside risk	3.35	2.91	+0.44
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.03
Calmar ratio: Return relative to maximum drawdown	4.74	2.49	+2.25
Martin ratio: Return relative to average drawdown	13.66	10.32	+3.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPDV vs. VOOG - Sharpe Ratio Comparison

The current SPDV Sharpe Ratio is 2.26, which is comparable to the VOOG Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of SPDV and VOOG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPDV	VOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.16	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.76	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.88	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.91	-0.45

Drawdowns

SPDV vs. VOOG - Drawdown Comparison

The maximum SPDV drawdown since its inception was -43.81%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for SPDV and VOOG.

Drawdown Indicators

	SPDV	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	-32.73%	-11.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	-13.71%	+7.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	-22.18%	+3.56%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	-32.73%	+11.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.73%	—
Current Drawdown Current decline from peak	-0.62%	-1.08%	+0.46%
Average Drawdown Average peak-to-trough decline	-6.57%	-4.97%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.31%	-1.30%

Volatility

SPDV vs. VOOG - Volatility Comparison

The current volatility for AAM S&P 500 High Dividend Value ETF (SPDV) is 2.76%, while Vanguard S&P 500 Growth ETF (VOOG) has a volatility of 4.32%. This indicates that SPDV experiences smaller price fluctuations and is considered to be less risky than VOOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPDV	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	4.32%	-1.56%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	12.41%	-4.25%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	15.85%	-3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	21.19%	-4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.31%	20.73%	-0.42%

SPDV vs. VOOG - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is higher than VOOG's 0.07% expense ratio.

Dividends

SPDV vs. VOOG - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.31%, more than VOOG's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPDV AAM S&P 500 High Dividend Value ETF	3.31%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%	0.00%	0.00%
VOOG Vanguard S&P 500 Growth ETF	0.44%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both SPDV and VOOG in my portfolio?

SPDV and VOOG have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPDV or VOOG?

VOOG has higher volatility (4.32%) compared to SPDV (2.76%). In terms of maximum drawdown, SPDV dropped -43.81% vs VOOG's -32.73%.

Which ETF is better, SPDV or VOOG?

On 5-year performance, VOOG leads with 16.03% vs 8.17% for SPDV. On fees, VOOG is cheaper at 0.07% per year. On volatility, SPDV has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPDV or VOOG?

Over the 5-year period, VOOG has performed better with a 16.03% return vs 8.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPDV or VOOG?

VOOG is cheaper with a 0.07% expense ratio, compared with 0.29% for SPDV.

Which ETF pays a higher dividend yield, SPDV or VOOG?

SPDV has the higher dividend yield at 3.31%, compared with 0.44% for VOOG.

What is the main difference between SPDV and VOOG?

SPDV is categorized as Dividend, while VOOG is S&P 500. SPDV tracks S&P 500 Dividend and Free Cash Flow Yield Index, while VOOG tracks S&P 500 Growth Index. They also come from different issuers: Advisors Asset Management and Vanguard. Their fees differ too: 0.29% for SPDV and 0.07% for VOOG.

Which has better risk-adjusted returns?

SPDV currently has the higher Sharpe Ratio (2.26 vs 2.16), 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.