SPYG vs. SCHG

Last updated Jun 23, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 10 years, SPYG returned 18.34%/yr vs 18.81%/yr for SCHG. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.

Performance

SPYG vs. SCHG - 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 Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYG achieves a 11.38% return, which is significantly higher than SCHG's 2.76% return. Both investments have delivered pretty close results over the past 10 years, with SPYG having a 18.34% annualized return and SCHG not far ahead at 18.81%.

SPYG

• 1D: -0.71%
• 1M: 0.34%
• YTD: 11.38%
• 6M: 11.00%
• 1Y: 31.61%
• 3Y*: 26.51%
• 5Y*: 14.78%
• 10Y*: 18.34%

SCHG

• 1D: -1.24%
• 1M: -2.59%
• YTD: 2.76%
• 6M: 2.11%
• 1Y: 20.89%
• 3Y*: 22.70%
• 5Y*: 13.68%
• 10Y*: 18.81%

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

SPYG vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	11.38%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%
SCHG Schwab U.S. Large-Cap Growth ETF	2.76%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between SPYG and SCHG is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.98

The correlation between SPYG and SCHG has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

SPYG vs. SCHG - Sectors Allocation Comparison

Sectors	SPYG	SCHG
Technology	52.1%	46.7%
Communication Services	15.9%	15.3%
Financial Services	9.0%	6.6%
Consumer Cyclical	8.5%	12.4%
Healthcare	5.9%	8.4%
Industrials	5.4%	6.0%
Utilities	1.2%	0.4%
Consumer Defensive	1.0%	1.6%
Real Estate	0.6%	0.5%
Basic Materials	0.3%	1.3%
Energy	0.1%	0.7%

Return for Risk

SPYG vs. SCHG — 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: 57
SPYG Sortino Ratio Rank: 54
SPYG Omega Ratio Rank: 54
SPYG Calmar Ratio Rank: 48
SPYG Martin Ratio Rank: 54

SCHG

SCHG Risk / Return Rank: 33
SCHG Sharpe Ratio Rank: 37
SCHG Sortino Ratio Rank: 35
SCHG Omega Ratio Rank: 35
SCHG Calmar Ratio Rank: 27
SCHG Martin Ratio Rank: 30

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. SCHG - 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 Schwab U.S. Large-Cap Growth ETF (SCHG). 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	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.86	1.30	+0.56
Sortino ratio: Return per unit of downside risk	2.53	1.79	+0.74
Omega ratio: Gain probability vs. loss probability	1.33	1.23	+0.10
Calmar ratio: Return relative to maximum drawdown	2.31	1.28	+1.03
Martin ratio: Return relative to average drawdown	9.21	4.19	+5.02

SPYG vs. SCHG - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.86, which is higher than the SCHG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of SPYG and SCHG, 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. SCHG - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for SPYG and SCHG.

Drawdown Indicators

	SPYG	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-34.59%	-33.04%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-16.41%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-23.39%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-34.59%	+1.92%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-34.59%	+1.92%
Current Drawdown Current decline from peak	-3.19%	-5.16%	+1.97%
Average Drawdown Average peak-to-trough decline	-24.28%	-5.20%	-19.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	5.00%	-1.56%

Volatility

SPYG vs. SCHG - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 6.83% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 5.78%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.83%	5.78%	+1.05%
Volatility (6M) Calculated over the trailing 6-month period	13.72%	12.50%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	17.11%	16.21%	+0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.34%	22.37%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.74%	21.61%	-0.87%

SPYG vs. SCHG - Expense Ratio Comparison

Both SPYG and SCHG have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPYG vs. SCHG - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.60%, more than SCHG's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.60%	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 SCHG in my portfolio?

With a correlation of 0.97, SPYG and SCHG 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 SCHG?

SPYG has higher volatility (6.83%) compared to SCHG (5.78%). In terms of maximum drawdown, SPYG dropped -67.63% vs SCHG's -34.59%.

Which ETF is better, SPYG or SCHG?

On 10-year performance, SCHG leads with 18.81% vs 18.34% for SPYG. Both ETFs have the same 0.04% expense ratio. On volatility, SCHG has been the lower-risk option at 5.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or SCHG?

Over the 10-year period, SCHG has performed better with a 18.81% return vs 18.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or SCHG?

SPYG and SCHG have the same expense ratio: 0.04% per year.

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

SPYG has the higher dividend yield at 0.60%, compared with 0.38% for SCHG.

What is the main difference between SPYG and SCHG?

SPYG is categorized as S&P 500, while SCHG is Large Cap Growth Equities. SPYG tracks S&P 500 Growth Index, while SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. They also come from different issuers: State Street and Charles Schwab.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.86 vs 1.30), 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.