SPYG vs. KO

Last updated Aug 4, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) is S&P 500 fund tracking the S&P 500 Growth Index, while KO (The Coca-Cola Company) is a stock. Over the past 10 years, SPYG returned 17.52%/yr vs 10.56%/yr for KO. Their 0.37 correlation means their historical movements had little consistent relationship.

Performance

SPYG vs. KO - 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 The Coca-Cola Company (KO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYG achieves a 12.43% return, which is significantly lower than KO's 25.91% return. Over the past 10 years, SPYG has outperformed KO with an annualized return of 17.52%, while KO has yielded a comparatively lower 10.56% annualized return.

SPYG

• 1D: 2.15%
• 1M: 2.10%
• 6M: 11.46%
• YTD: 12.43%
• 1Y: 24.33%
• 3Y*: 25.98%
• 5Y*: 13.61%
• 10Y*: 17.52%
• ALL TIME*: 7.54%

KO

• 1D: -0.83%
• 1M: 3.23%
• 6M: 16.85%
• YTD: 25.91%
• 1Y: 29.71%
• 3Y*: 16.05%
• 5Y*: 12.41%
• 10Y*: 10.56%
• ALL TIME*: 12.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KO The Coca-Cola Company	$1.57B	$1.49B	$1.47B
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$323.67M	$273.71M	$308.17M

SPYG vs. KO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	12.43%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%
KO The Coca-Cola Company	25.91%	15.60%	8.88%	-4.43%	10.61%	11.37%	2.47%	20.60%	6.77%	14.38%

Correlation

The correlation between SPYG and KO is -0.32, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.32
Correlation (3Y) Balances recent behavior with more history.	-0.12
Correlation (5Y) Shows whether the relationship held over a longer period.	0.11
Correlation (10Y) Provides a long-term view across more market conditions.	0.25
Correlation (All Time) Calculated using the full available price history since Oct 2, 2000	0.37

The correlation between SPYG and KO shifts across timeframes, from -0.32 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPYG vs. KO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPYG

SPYG Risk / Return Rank: 53
SPYG Sharpe Ratio Rank: 55
SPYG Sortino Ratio Rank: 54
SPYG Omega Ratio Rank: 52
SPYG Calmar Ratio Rank: 48
SPYG Martin Ratio Rank: 54

KO

KO Risk / Return Rank: 87
KO Sharpe Ratio Rank: 87
KO Sortino Ratio Rank: 87
KO Omega Ratio Rank: 83
KO Calmar Ratio Rank: 91
KO Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPYG vs. KO - 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 The Coca-Cola Company (KO). 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	KO	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.61	-0.26
Sortino ratio: Return per unit of downside risk	1.93	2.53	-0.61
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.78	3.79	-2.02
Martin ratio: Return relative to average drawdown	6.45	8.26	-1.82

SPYG vs. KO - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.34, which is comparable to the KO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SPYG and KO, 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. KO - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, roughly equal to the maximum KO drawdown of -68.23%. Use the drawdown chart below to compare losses from any high point for SPYG and KO.

Drawdown Indicators

	SPYG	KO	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-68.23%	+0.60%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-7.87%	-5.89%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-15.50%	-6.64%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-17.27%	-15.40%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-36.99%	+4.32%
Current Drawdown Current decline from peak	-2.28%	-2.49%	+0.21%
Average Drawdown Average peak-to-trough decline	-24.20%	-16.06%	-8.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	3.61%	+0.17%

Volatility

SPYG vs. KO - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is 6.35%, while The Coca-Cola Company (KO) has a volatility of 8.55%. This indicates that SPYG experiences smaller price fluctuations and is considered to be less risky than KO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	KO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	8.55%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	14.99%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	18.62%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	16.65%	+4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	18.43%	+2.38%

Dividends

SPYG vs. KO - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, less than KO's 2.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KO The Coca-Cola Company	2.39%	2.92%	3.12%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%
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 KO in my portfolio?

SPYG and KO have a correlation of -0.32, 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 KO?

KO has higher volatility (8.55%) compared to SPYG (6.35%). In terms of maximum drawdown, SPYG dropped -67.63% vs KO's -68.23%.

Which has better risk-adjusted returns?

KO currently has the higher Sharpe Ratio (1.61 vs 1.34), 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.