SPYG vs. ICF
SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and ICF (iShares Cohen & Steers REIT ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while ICF is a REIT fund tracking the Cohen & Steers Realty Majors Index. Both are passively managed. Over the past 10 years, SPYG returned 17.91%/yr vs 5.99%/yr for ICF. A 0.52 correlation means they provide meaningful diversification when combined. SPYG charges 0.04%/yr vs 0.34%/yr for ICF.
Performance
SPYG vs. ICF - Performance Comparison
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Returns By Period
In the year-to-date period, SPYG achieves a 9.70% return, which is significantly lower than ICF's 16.93% return. Over the past 10 years, SPYG has outperformed ICF with an annualized return of 17.91%, while ICF has yielded a comparatively lower 5.99% annualized return.
SPYG
- 1D
- 0.41%
- 1M
- -2.81%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
ICF
- 1D
- 0.96%
- 1M
- 3.62%
- YTD
- 16.93%
- 6M
- 17.09%
- 1Y
- 15.91%
- 3Y*
- 11.06%
- 5Y*
- 3.38%
- 10Y*
- 5.99%
SPYG vs. ICF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.12% | 27.24% |
ICF iShares Cohen & Steers REIT ETF | 16.93% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
Correlation
The correlation between SPYG and ICF is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2001 | 0.52 |
Over the past year, the correlation between SPYG and ICF has dropped to 0.06 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
SPYG vs. ICF — Risk / Return Rank
SPYG
ICF
SPYG vs. ICF - 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 iShares Cohen & Steers REIT ETF (ICF). 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 | ICF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.57 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.19 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.82 | +0.19 |
| Martin ratioReturn relative to average drawdown | 8.08 | 5.18 | +2.91 |
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Drawdowns
SPYG vs. ICF - Drawdown Comparison
The maximum SPYG drawdown since its inception was -67.63%, smaller than the maximum ICF drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for SPYG and ICF.
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Drawdown Indicators
| SPYG | ICF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.63% | -76.74% | +9.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.76% | -8.20% | -5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -22.14% | -17.25% | -4.89% |
Max Drawdown (5Y)Largest decline over 5 years | -32.67% | -34.74% | +2.07% |
Max Drawdown (10Y)Largest decline over 10 years | -32.67% | -40.22% | +7.55% |
Current DrawdownCurrent decline from peak | -4.65% | 0.00% | -4.65% |
Average DrawdownAverage peak-to-trough decline | -24.30% | -14.16% | -10.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 2.89% | +0.53% |
Volatility
SPYG vs. ICF - Volatility Comparison
State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 6.33% compared to iShares Cohen & Steers REIT ETF (ICF) at 4.74%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than ICF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYG | ICF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 4.74% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | 10.33% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.81% | 13.94% | +2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.27% | 18.95% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.70% | 20.60% | +0.10% |
SPYG vs. ICF - Expense Ratio Comparison
SPYG has a 0.04% expense ratio, which is lower than ICF's 0.34% expense ratio.
Dividends
SPYG vs. ICF - Dividend Comparison
SPYG's dividend yield for the trailing twelve months is around 0.48%, less than ICF's 2.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 2.38% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
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
SPYG and ICF have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.33%) compared to ICF (4.74%). In terms of maximum drawdown, SPYG dropped -67.63% vs ICF's -76.74%.
On 10-year performance, SPYG leads with 17.91% vs 5.99% for ICF. On fees, SPYG is cheaper at 0.04% per year. On volatility, ICF has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYG has performed better with a 17.91% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.34% for ICF.
ICF has the higher dividend yield at 2.38%, compared with 0.48% for SPYG.
SPYG is categorized as S&P 500, while ICF is REIT. SPYG tracks S&P 500 Growth Index, while ICF tracks Cohen & Steers Realty Majors Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.04% for SPYG and 0.34% for ICF.
SPYG currently has the higher Sharpe Ratio (1.65 vs 1.07), 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.
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