SPYG vs. AVDV

Last updated Jun 14, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. SPYG is passively managed, while AVDV is actively managed. Over the past 5 years, SPYG returned 14.92%/yr vs 13.63%/yr for AVDV. A 0.61 correlation means they provide meaningful diversification when combined. SPYG charges 0.04%/yr vs 0.36%/yr for AVDV.

Performance

SPYG vs. AVDV - Performance Comparison

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

Returns By Period

In the year-to-date period, SPYG achieves a 9.70% return, which is significantly lower than AVDV's 14.99% return.

SPYG

• 1D: 0.41%
• 1M: -1.24%
• YTD: 9.70%
• 6M: 10.60%
• 1Y: 29.17%
• 3Y*: 25.85%
• 5Y*: 14.92%
• 10Y*: 17.91%

AVDV

• 1D: 0.89%
• 1M: 0.12%
• YTD: 14.99%
• 6M: 17.18%
• 1Y: 41.91%
• 3Y*: 26.72%
• 5Y*: 13.63%
• 10Y*: —

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

SPYG vs. AVDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	9.70%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	7.74%
AVDV Avantis International Small Cap Value ETF	14.99%	49.37%	8.67%	16.85%	-11.47%	15.80%	5.01%	11.78%

Correlation

The correlation between SPYG and AVDV is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.61

The correlation between SPYG and AVDV has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

SPYG vs. AVDV - Sectors Allocation Comparison

Sectors	SPYG	AVDV
Technology	53.2%	6.6%
Communication Services	16.1%	2.4%
Consumer Cyclical	8.5%	15.4%
Financial Services	8.4%	13.6%
Healthcare	5.8%	2.3%
Industrials	5.1%	22.8%
Utilities	1.1%	1.7%
Consumer Defensive	0.9%	3.4%
Real Estate	0.5%	1.3%
Basic Materials	0.3%	21.0%
Energy	0.1%	9.6%

Return for Risk

SPYG vs. AVDV — Risk / Return Rank

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

SPYG

SPYG Risk / Return Rank: 52
SPYG Sharpe Ratio Rank: 56
SPYG Sortino Ratio Rank: 53
SPYG Omega Ratio Rank: 53
SPYG Calmar Ratio Rank: 45
SPYG Martin Ratio Rank: 53

AVDV

AVDV Risk / Return Rank: 81
AVDV Sharpe Ratio Rank: 88
AVDV Sortino Ratio Rank: 86
AVDV Omega Ratio Rank: 86
AVDV Calmar Ratio Rank: 71
AVDV Martin Ratio Rank: 76

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.

SPYG vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and Avantis International Small Cap Value ETF (AVDV). 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.

	SPYG	AVDV	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.53	-0.89
Sortino ratio: Return per unit of downside risk	2.26	3.36	-1.10
Omega ratio: Gain probability vs. loss probability	1.29	1.46	-0.17
Calmar ratio: Return relative to maximum drawdown	2.01	3.12	-1.11
Martin ratio: Return relative to average drawdown	8.08	12.44	-4.36

SPYG vs. AVDV - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.65, which is lower than the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SPYG and AVDV, 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

SPYG vs. AVDV - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than AVDV's maximum drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for SPYG and AVDV.

Drawdown Indicators

	SPYG	AVDV	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-43.01%	-24.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-13.19%	-0.57%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-14.17%	-7.97%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-28.08%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	—	—
Current Drawdown Current decline from peak	-4.65%	-2.24%	-2.41%
Average Drawdown Average peak-to-trough decline	-24.30%	-6.76%	-17.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.30%	+0.12%

Volatility

SPYG vs. AVDV - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and Avantis International Small Cap Value ETF (AVDV) have volatilities of 6.33% and 6.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	AVDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.33%	6.26%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	13.88%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	16.25%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.27%	17.41%	+3.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.70%	19.77%	+0.93%

SPYG vs. AVDV - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

SPYG vs. AVDV - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, less than AVDV's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVDV Avantis International Small Cap Value ETF	4.11%	3.05%	4.31%	3.29%	3.17%	2.39%	1.67%	0.36%	0.00%	0.00%	0.00%	0.00%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.48%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both SPYG and AVDV in my portfolio?

SPYG and AVDV have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYG or AVDV?

SPYG has higher volatility (6.33%) compared to AVDV (6.26%). In terms of maximum drawdown, SPYG dropped -67.63% vs AVDV's -43.01%.

Which ETF is better, SPYG or AVDV?

On 5-year performance, SPYG leads with 14.92% vs 13.63% for AVDV. On fees, SPYG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or AVDV?

Over the 5-year period, SPYG has performed better with a 14.92% return vs 13.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or AVDV?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.36% for AVDV.

Which ETF pays a higher dividend yield, SPYG or AVDV?

AVDV has the higher dividend yield at 4.11%, compared with 0.48% for SPYG.

What is the main difference between SPYG and AVDV?

SPYG is categorized as S&P 500, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: State Street and Avantis. Their fees differ too: 0.04% for SPYG and 0.36% for AVDV.

Which has better risk-adjusted returns?

AVDV currently has the higher Sharpe Ratio (2.53 vs 1.65), 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.