SPXE vs. MGC

Last updated Jun 16, 2026

SPXE (ProShares S&P 500 Ex-Energy ETF) and MGC (Vanguard Mega Cap ETF) are both exchange-traded funds - SPXE is a S&P 500 fund tracking the S&P 500 Ex-Energy Index, while MGC is a Large Cap Blend Equities fund tracking the CRSP US Mega Cap Index. Both are passively managed. SPXE charges 0.09%/yr vs 0.05%/yr for MGC.

Performance

SPXE vs. MGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Energy ETF (SPXE) and Vanguard Mega Cap ETF (MGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPXE

• 1D: -0.21%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MGC

• 1D: 1.96%
• 1M: 1.72%
• YTD: 10.55%
• 6M: 11.42%
• 1Y: 28.97%
• 3Y*: 22.57%
• 5Y*: 14.62%
• 10Y*: 16.48%

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

SPXE vs. MGC - Yearly Performance Comparison

	2026 (YTD)
SPXE ProShares S&P 500 Ex-Energy ETF	-0.21%
MGC Vanguard Mega Cap ETF	1.96%

SPXE vs. MGC - Sectors Allocation Comparison

Sectors	SPXE	MGC
Technology	39.2%	39.3%
Financial Services	11.9%	11.7%
Communication Services	10.7%	13.1%
Consumer Cyclical	9.7%	10.1%
Healthcare	9.0%	8.9%
Industrials	8.1%	6.5%
Consumer Defensive	4.8%	4.8%
Utilities	2.6%	1.0%
Real Estate	1.9%	1.0%
Basic Materials	1.8%	1.2%
Energy	0.0%	2.6%

Return for Risk

SPXE vs. MGC — Risk / Return Rank

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

SPXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MGC

MGC Risk / Return Rank: 74
MGC Sharpe Ratio Rank: 79
MGC Sortino Ratio Rank: 76
MGC Omega Ratio Rank: 77
MGC Calmar Ratio Rank: 65
MGC Martin Ratio Rank: 75

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.

SPXE vs. MGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Energy ETF (SPXE) and Vanguard Mega Cap ETF (MGC). 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.

	SPXE	MGC	Difference
Sharpe ratio: Return per unit of total volatility	—	2.25	—
Sortino ratio: Return per unit of downside risk	—	3.03	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	2.96	—
Martin ratio: Return relative to average drawdown	—	12.90	—

Drawdowns

SPXE vs. MGC - Drawdown Comparison

The maximum SPXE drawdown since its inception was -0.21%, smaller than the maximum MGC drawdown of -52.26%. Use the drawdown chart below to compare losses from any high point for SPXE and MGC.

Drawdown Indicators

	SPXE	MGC	Difference
Max Drawdown Largest peak-to-trough decline	-0.21%	-52.26%	+52.05%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.07%	—
Current Drawdown Current decline from peak	-0.21%	-1.02%	+0.81%
Average Drawdown Average peak-to-trough decline	-0.21%	-7.18%	+6.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.25%	—

Volatility

Volatility by Period

	SPXE	MGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.21%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.94%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.37%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.26%	—

SPXE vs. MGC - Expense Ratio Comparison

SPXE has a 0.09% expense ratio, which is higher than MGC's 0.05% 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

SPXE vs. MGC - Dividend Comparison

SPXE has not paid dividends to shareholders, while MGC's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGC Vanguard Mega Cap ETF	0.87%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%
SPXE ProShares S&P 500 Ex-Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, SPXE or MGC?

On fees, MGC is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXE or MGC?

MGC is cheaper with a 0.05% expense ratio, compared with 0.09% for SPXE.

Which ETF pays a higher dividend yield, SPXE or MGC?

MGC has the higher dividend yield at 0.87%, compared with 0.00% for SPXE.

What is the main difference between SPXE and MGC?

SPXE is categorized as S&P 500, while MGC is Large Cap Blend Equities. SPXE tracks S&P 500 Ex-Energy Index, while MGC tracks CRSP US Mega Cap Index. They also come from different issuers: ProShares and Vanguard. Their fees differ too: 0.09% for SPXE and 0.05% for MGC.