SPYG vs. IGM

Last updated Jun 9, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and IGM (iShares Expanded Tech Sector ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while IGM is a Technology Equities fund tracking the S&P North American Expanded Technology Sector Index. Both are passively managed. Over the past 10 years, SPYG returned 17.86%/yr vs 24.50%/yr for IGM. Their correlation of 0.88 suggests significant overlap in exposure. SPYG charges 0.04%/yr vs 0.39%/yr for IGM.

Performance

SPYG vs. IGM - 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 iShares Expanded Tech Sector ETF (IGM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYG achieves a 10.10% return, which is significantly lower than IGM's 23.52% return. Over the past 10 years, SPYG has underperformed IGM with an annualized return of 17.86%, while IGM has yielded a comparatively higher 24.50% annualized return.

SPYG

• 1D: 0.66%
• 1M: -0.20%
• YTD: 10.10%
• 6M: 9.48%
• 1Y: 29.04%
• 3Y*: 26.72%
• 5Y*: 15.25%
• 10Y*: 17.86%

IGM

• 1D: 1.82%
• 1M: 3.30%
• YTD: 23.52%
• 6M: 19.92%
• 1Y: 50.26%
• 3Y*: 36.62%
• 5Y*: 20.46%
• 10Y*: 24.50%

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

SPYG vs. IGM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	10.10%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%
IGM iShares Expanded Tech Sector ETF	23.52%	26.76%	36.99%	60.68%	-35.83%	25.72%	45.11%	41.81%	2.26%	37.20%

Correlation

The correlation between SPYG and IGM is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 20, 2001	0.88

The correlation between SPYG and IGM has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.

SPYG vs. IGM - Sectors Allocation Comparison

Sectors	SPYG	IGM
Technology	52.2%	82.8%
Communication Services	16.7%	16.8%
Consumer Cyclical	8.9%	0.1%
Financial Services	8.3%	0.2%
Healthcare	5.8%	-
Industrials	5.0%	0.2%
Utilities	1.1%	-
Consumer Defensive	1.0%	-
Real Estate	0.5%	-
Basic Materials	0.3%	-
Energy	0.1%	0.1%

Return for Risk

SPYG vs. IGM — Risk / Return Rank

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

SPYG

SPYG Risk / Return Rank: 54
SPYG Sharpe Ratio Rank: 58
SPYG Sortino Ratio Rank: 55
SPYG Omega Ratio Rank: 55
SPYG Calmar Ratio Rank: 47
SPYG Martin Ratio Rank: 55

IGM

IGM Risk / Return Rank: 72
IGM Sharpe Ratio Rank: 81
IGM Sortino Ratio Rank: 71
IGM Omega Ratio Rank: 74
IGM Calmar Ratio Rank: 67
IGM Martin Ratio Rank: 64

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. IGM - 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 Expanded Tech Sector ETF (IGM). 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.

	SPYG	IGM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.35	-0.58
Sortino ratio: Return per unit of downside risk	2.40	2.91	-0.50
Omega ratio: Gain probability vs. loss probability	1.31	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	2.12	3.07	-0.95
Martin ratio: Return relative to average drawdown	8.70	10.67	-1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYG vs. IGM - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.77, which is comparable to the IGM Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of SPYG and IGM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPYG	IGM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.35	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.80	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	1.00	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.47	-0.12

Drawdowns

SPYG vs. IGM - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, roughly equal to the maximum IGM drawdown of -65.59%. Use the drawdown chart below to compare losses from any high point for SPYG and IGM.

Drawdown Indicators

	SPYG	IGM	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-65.59%	-2.04%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-16.44%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-26.39%	+4.25%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-40.68%	+8.01%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-40.68%	+8.01%
Current Drawdown Current decline from peak	-4.31%	-6.73%	+2.42%
Average Drawdown Average peak-to-trough decline	-24.32%	-15.23%	-9.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	4.73%	-1.38%

Volatility

SPYG vs. IGM - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is 5.67%, while iShares Expanded Tech Sector ETF (IGM) has a volatility of 9.40%. This indicates that SPYG experiences smaller price fluctuations and is considered to be less risky than IGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	IGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	9.40%	-3.73%
Volatility (6M) Calculated over the trailing 6-month period	13.10%	17.54%	-4.44%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	21.54%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	25.84%	-4.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	24.63%	-3.94%

SPYG vs. IGM - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is lower than IGM's 0.39% expense ratio.

Dividends

SPYG vs. IGM - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, more than IGM's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGM iShares Expanded Tech Sector ETF	0.13%	0.17%	0.22%	0.33%	0.66%	0.16%	0.32%	0.50%	0.57%	0.57%	0.90%	0.79%
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 IGM in my portfolio?

With a correlation of 0.93, SPYG and IGM 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, SPYG or IGM?

IGM has higher volatility (9.40%) compared to SPYG (5.67%). In terms of maximum drawdown, SPYG dropped -67.63% vs IGM's -65.59%.

Which ETF is better, SPYG or IGM?

On 10-year performance, IGM leads with 24.50% vs 17.86% for SPYG. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 5.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or IGM?

Over the 10-year period, IGM has performed better with a 24.50% return vs 17.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or IGM?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.39% for IGM.

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

SPYG has the higher dividend yield at 0.48%, compared with 0.13% for IGM.

What is the main difference between SPYG and IGM?

SPYG is categorized as S&P 500, while IGM is Technology Equities. SPYG tracks S&P 500 Growth Index, while IGM tracks S&P North American Expanded Technology Sector Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.04% for SPYG and 0.39% for IGM.

Which has better risk-adjusted returns?

IGM currently has the higher Sharpe Ratio (2.35 vs 1.77), 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.