SPGM vs. VOO

Last updated Jun 24, 2026

SPGM (SPDR Portfolio MSCI Global Stock Market ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - SPGM is a Global Equities fund tracking the MSCI ACWI IMI Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SPGM returned 13.23%/yr vs 15.61%/yr for VOO. A 0.79 correlation means they provide meaningful diversification when combined. SPGM charges 0.09%/yr vs 0.03%/yr for VOO.

Performance

SPGM vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPGM achieves a 10.79% return, which is significantly higher than VOO's 8.19% return. Over the past 10 years, SPGM has underperformed VOO with an annualized return of 13.23%, while VOO has yielded a comparatively higher 15.61% annualized return.

SPGM

• 1D: -1.85%
• 1M: -0.09%
• YTD: 10.79%
• 6M: 9.88%
• 1Y: 28.37%
• 3Y*: 20.39%
• 5Y*: 11.06%
• 10Y*: 13.23%

VOO

• 1D: -1.42%
• 1M: -1.34%
• YTD: 8.19%
• 6M: 7.24%
• 1Y: 23.69%
• 3Y*: 20.78%
• 5Y*: 13.13%
• 10Y*: 15.61%

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

SPGM vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPGM SPDR Portfolio MSCI Global Stock Market ETF	10.79%	23.62%	16.75%	21.34%	-17.53%	21.13%	15.28%	26.58%	-10.12%	23.26%
VOO Vanguard S&P 500 ETF	8.19%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between SPGM and VOO is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 5, 2012	0.79

The correlation between SPGM and VOO shifts across timeframes, from 0.79 (all time) to 0.95 (1 year), reflecting how their relationship changes across market environments.

SPGM vs. VOO - Sectors Allocation Comparison

Sectors	SPGM	VOO
Technology	30.7%	39.1%
Financial Services	15.7%	10.9%
Industrials	12.5%	7.6%
Consumer Cyclical	9.0%	9.8%
Communication Services	8.2%	10.5%
Healthcare	7.9%	8.3%
Consumer Defensive	4.5%	4.5%
Energy	4.0%	3.2%
Basic Materials	3.8%	1.7%
Utilities	2.0%	2.5%
Real Estate	1.8%	1.8%

Return for Risk

SPGM vs. VOO — Risk / Return Rank

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

SPGM

SPGM Risk / Return Rank: 66
SPGM Sharpe Ratio Rank: 67
SPGM Sortino Ratio Rank: 64
SPGM Omega Ratio Rank: 66
SPGM Calmar Ratio Rank: 63
SPGM Martin Ratio Rank: 73

VOO

VOO Risk / Return Rank: 59
VOO Sharpe Ratio Rank: 59
VOO Sortino Ratio Rank: 56
VOO Omega Ratio Rank: 58
VOO Calmar Ratio Rank: 56
VOO 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.

SPGM vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Vanguard S&P 500 ETF (VOO). 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.

	SPGM	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.91	+0.16
Sortino ratio: Return per unit of downside risk	2.82	2.60	+0.22
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	3.00	2.67	+0.33
Martin ratio: Return relative to average drawdown	13.18	11.96	+1.22

SPGM vs. VOO - Sharpe Ratio Comparison

The current SPGM Sharpe Ratio is 2.08, which is comparable to the VOO Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of SPGM and VOO, 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

SPGM vs. VOO - Drawdown Comparison

The maximum SPGM drawdown since its inception was -33.97%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for SPGM and VOO.

Drawdown Indicators

	SPGM	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-33.97%	-33.99%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-8.90%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-16.90%	-18.69%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	-25.93%	-24.52%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	-33.99%	+0.02%
Current Drawdown Current decline from peak	-2.70%	-3.14%	+0.44%
Average Drawdown Average peak-to-trough decline	-4.79%	-3.68%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.99%	+0.17%

Volatility

SPGM vs. VOO - Volatility Comparison

SPDR Portfolio MSCI Global Stock Market ETF (SPGM) has a higher volatility of 5.64% compared to Vanguard S&P 500 ETF (VOO) at 4.83%. This indicates that SPGM's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPGM	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	4.83%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	11.44%	9.82%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	13.74%	12.46%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	16.91%	-0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	18.02%	-0.52%

SPGM vs. VOO - Expense Ratio Comparison

SPGM has a 0.09% expense ratio, which is higher than VOO's 0.03% 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

SPGM vs. VOO - Dividend Comparison

SPGM's dividend yield for the trailing twelve months is around 1.83%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPGM SPDR Portfolio MSCI Global Stock Market ETF	1.83%	1.89%	1.98%	2.09%	2.37%	1.94%	1.45%	2.46%	1.89%	2.29%	1.87%	3.70%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both SPGM and VOO in my portfolio?

With a correlation of 0.95, SPGM and VOO 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, SPGM or VOO?

SPGM has higher volatility (5.64%) compared to VOO (4.83%). In terms of maximum drawdown, SPGM dropped -33.97% vs VOO's -33.99%.

Which ETF is better, SPGM or VOO?

On 10-year performance, VOO leads with 15.61% vs 13.23% for SPGM. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPGM or VOO?

Over the 10-year period, VOO has performed better with a 15.61% return vs 13.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPGM or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.09% for SPGM.

Which ETF pays a higher dividend yield, SPGM or VOO?

SPGM has the higher dividend yield at 1.83%, compared with 1.05% for VOO.

What is the main difference between SPGM and VOO?

SPGM is categorized as Global Equities, while VOO is S&P 500. SPGM tracks MSCI ACWI IMI Index, while VOO tracks S&P 500 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.09% for SPGM and 0.03% for VOO.

Which has better risk-adjusted returns?

SPGM currently has the higher Sharpe Ratio (2.08 vs 1.91), 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.