SPYC vs. TDVG

Last updated Jun 24, 2026

SPYC (Simplify US Equity PLUS Convexity ETF) and TDVG (T. Rowe Price Dividend Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past 5 years, SPYC returned 9.47%/yr vs 10.19%/yr for TDVG. Their correlation of 0.85 suggests significant overlap in exposure. SPYC charges 0.28%/yr vs 0.50%/yr for TDVG.

Performance

SPYC vs. TDVG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity PLUS Convexity ETF (SPYC) and T. Rowe Price Dividend Growth ETF (TDVG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYC achieves a 5.45% return, which is significantly lower than TDVG's 8.04% return.

SPYC

• 1D: -1.60%
• 1M: -0.87%
• YTD: 5.45%
• 6M: 3.83%
• 1Y: 16.02%
• 3Y*: 17.77%
• 5Y*: 9.47%
• 10Y*: —

TDVG

• 1D: -0.55%
• 1M: 1.22%
• YTD: 8.04%
• 6M: 7.41%
• 1Y: 17.57%
• 3Y*: 15.55%
• 5Y*: 10.19%
• 10Y*: —

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

SPYC vs. TDVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPYC Simplify US Equity PLUS Convexity ETF	5.45%	15.31%	22.57%	23.98%	-25.65%	29.26%	8.23%
TDVG T. Rowe Price Dividend Growth ETF	8.04%	14.80%	13.45%	13.95%	-10.15%	26.20%	10.30%

Correlation

The correlation between SPYC and TDVG is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020	0.85

The correlation between SPYC and TDVG has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

SPYC vs. TDVG - Sectors Allocation Comparison

Sectors	SPYC	TDVG
Technology	39.9%	26.2%
Financial Services	11.0%	19.3%
Communication Services	10.5%	1.0%
Consumer Cyclical	9.6%	7.2%
Healthcare	8.2%	12.4%
Industrials	7.7%	13.6%
Consumer Defensive	4.4%	6.9%
Energy	3.2%	5.3%
Utilities	2.0%	3.8%
Real Estate	1.8%	1.6%
Basic Materials	1.7%	2.8%

Return for Risk

SPYC vs. TDVG — Risk / Return Rank

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

SPYC

SPYC Risk / Return Rank: 28
SPYC Sharpe Ratio Rank: 29
SPYC Sortino Ratio Rank: 29
SPYC Omega Ratio Rank: 27
SPYC Calmar Ratio Rank: 26
SPYC Martin Ratio Rank: 27

TDVG

TDVG Risk / Return Rank: 56
TDVG Sharpe Ratio Rank: 56
TDVG Sortino Ratio Rank: 58
TDVG Omega Ratio Rank: 54
TDVG Calmar Ratio Rank: 52
TDVG Martin Ratio Rank: 59

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.

SPYC vs. TDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Convexity ETF (SPYC) and T. Rowe Price Dividend Growth ETF (TDVG). 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.

	SPYC	TDVG	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.81	-0.80
Sortino ratio: Return per unit of downside risk	1.51	2.60	-1.09
Omega ratio: Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio: Return relative to maximum drawdown	1.19	2.44	-1.24
Martin ratio: Return relative to average drawdown	3.56	10.01	-6.45

SPYC vs. TDVG - Sharpe Ratio Comparison

The current SPYC Sharpe Ratio is 1.01, which is lower than the TDVG Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of SPYC and TDVG, 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

SPYC vs. TDVG - Drawdown Comparison

The maximum SPYC drawdown since its inception was -28.51%, which is greater than TDVG's maximum drawdown of -19.20%. Use the drawdown chart below to compare losses from any high point for SPYC and TDVG.

Drawdown Indicators

	SPYC	TDVG	Difference
Max Drawdown Largest peak-to-trough decline	-28.51%	-19.20%	-9.31%
Max Drawdown (1Y) Largest decline over 1 year	-13.47%	-7.24%	-6.23%
Max Drawdown (3Y) Largest decline over 3 years	-22.81%	-14.02%	-8.79%
Max Drawdown (5Y) Largest decline over 5 years	-28.51%	-19.20%	-9.31%
Current Drawdown Current decline from peak	-3.02%	-0.82%	-2.20%
Average Drawdown Average peak-to-trough decline	-8.19%	-3.73%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	1.76%	+2.75%

Volatility

SPYC vs. TDVG - Volatility Comparison

Simplify US Equity PLUS Convexity ETF (SPYC) has a higher volatility of 5.54% compared to T. Rowe Price Dividend Growth ETF (TDVG) at 2.78%. This indicates that SPYC's price experiences larger fluctuations and is considered to be riskier than TDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYC	TDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	2.78%	+2.76%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	7.61%	+3.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.00%	9.79%	+6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	13.92%	+6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	13.90%	+5.78%

SPYC vs. TDVG - Expense Ratio Comparison

SPYC has a 0.28% expense ratio, which is lower than TDVG's 0.50% expense ratio.

Dividends

SPYC vs. TDVG - Dividend Comparison

SPYC's dividend yield for the trailing twelve months is around 0.89%, less than TDVG's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
SPYC Simplify US Equity PLUS Convexity ETF	0.89%	0.89%	1.02%	1.76%	1.34%	1.01%	0.40%
TDVG T. Rowe Price Dividend Growth ETF	0.98%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%

Frequently Asked Questions

Can I hold both SPYC and TDVG in my portfolio?

SPYC and TDVG have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYC or TDVG?

SPYC has higher volatility (5.54%) compared to TDVG (2.78%). In terms of maximum drawdown, SPYC dropped -28.51% vs TDVG's -19.20%.

Which ETF is better, SPYC or TDVG?

On 5-year performance, TDVG leads with 10.19% vs 9.47% for SPYC. On fees, SPYC is cheaper at 0.28% per year. On volatility, TDVG has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYC or TDVG?

Over the 5-year period, TDVG has performed better with a 10.19% return vs 9.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYC or TDVG?

SPYC is cheaper with a 0.28% expense ratio, compared with 0.50% for TDVG.

Which ETF pays a higher dividend yield, SPYC or TDVG?

TDVG has the higher dividend yield at 0.98%, compared with 0.89% for SPYC.

What is the main difference between SPYC and TDVG?

They also come from different issuers: Simplify and T. Rowe Price. Their fees differ too: 0.28% for SPYC and 0.50% for TDVG.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.81 vs 1.01), 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.