SPYG vs. KO

Last updated Jun 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 18.20%/yr vs 9.11%/yr for KO. At a 0.38 correlation, their price movements are largely independent.

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

The year-to-date returns for both stocks are quite close, with SPYG having a 13.75% return and KO slightly lower at 13.43%. Over the past 10 years, SPYG has outperformed KO with an annualized return of 18.20%, while KO has yielded a comparatively lower 9.11% annualized return.

SPYG

• 1D: -0.98%
• 1M: 7.38%
• YTD: 13.75%
• 6M: 13.57%
• 1Y: 33.95%
• 3Y*: 28.16%
• 5Y*: 16.07%
• 10Y*: 18.20%

KO

• 1D: 0.45%
• 1M: 0.73%
• YTD: 13.43%
• 6M: 11.99%
• 1Y: 13.89%
• 3Y*: 12.09%
• 5Y*: 10.20%
• 10Y*: 9.11%

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

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	13.75%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%
KO The Coca-Cola Company	13.43%	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 -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Oct 3, 2000	0.38

The correlation between SPYG and KO shifts across timeframes, from -0.18 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPYG vs. KO — Risk / Return Rank

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

SPYG

SPYG Risk / Return Rank: 57
SPYG Sharpe Ratio Rank: 62
SPYG Sortino Ratio Rank: 60
SPYG Omega Ratio Rank: 59
SPYG Calmar Ratio Rank: 49
SPYG Martin Ratio Rank: 57

KO

KO Risk / Return Rank: 66
KO Sharpe Ratio Rank: 68
KO Sortino Ratio Rank: 63
KO Omega Ratio Rank: 58
KO Calmar Ratio Rank: 71
KO Martin Ratio Rank: 68

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. 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.

	SPYG	KO	Difference
Sharpe ratio: Return per unit of total volatility	2.12	0.88	+1.24
Sortino ratio: Return per unit of downside risk	2.90	1.45	+1.45
Omega ratio: Gain probability vs. loss probability	1.37	1.16	+0.21
Calmar ratio: Return relative to maximum drawdown	2.48	1.77	+0.71
Martin ratio: Return relative to average drawdown	10.25	3.48	+6.78
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. KO - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 2.12, which is higher than the KO Sharpe Ratio of 0.88. 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.

Sharpe Ratios by Period

	SPYG	KO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	0.88	+1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.64	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.50	+0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.53	-0.18

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%	-7.89%	-5.87%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-16.26%	-5.88%
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	-1.13%	-3.86%	+2.73%
Average Drawdown Average peak-to-trough decline	-24.33%	-16.09%	-8.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	4.00%	-0.68%

Volatility

SPYG vs. KO - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and The Coca-Cola Company (KO) have volatilities of 4.35% and 4.16%, 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	KO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.16%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	11.79%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.06%	15.86%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	16.00%	+5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	18.16%	+2.48%

Dividends

SPYG vs. KO - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.47%, less than KO's 2.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KO The Coca-Cola Company	2.62%	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	0.47%	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 -0.18, 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?

SPYG has higher volatility (4.35%) compared to KO (4.16%). In terms of maximum drawdown, SPYG dropped -67.63% vs KO's -68.23%.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (2.12 vs 0.88), 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.