SPYG vs. VOOG

Last updated Jun 9, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and VOOG (Vanguard S&P 500 Growth ETF) are both S&P 500 funds tracking the S&P 500 Growth Index, from State Street and Vanguard respectively. Both are passively managed. Over the past 10 years, SPYG returned 17.86%/yr vs 17.80%/yr for VOOG. With a 0.98 correlation, they move nearly in lockstep. SPYG charges 0.04%/yr vs 0.07%/yr for VOOG.

Performance

SPYG vs. VOOG - 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 Vanguard S&P 500 Growth ETF (VOOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SPYG at 10.10% and VOOG at 10.10%. Both investments have delivered pretty close results over the past 10 years, with SPYG having a 17.86% annualized return and VOOG not far behind at 17.80%.

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%

VOOG

• 1D: 0.65%
• 1M: -0.20%
• YTD: 10.10%
• 6M: 9.55%
• 1Y: 29.06%
• 3Y*: 26.66%
• 5Y*: 15.20%
• 10Y*: 17.80%

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

SPYG vs. VOOG - 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%
VOOG Vanguard S&P 500 Growth ETF	10.10%	22.11%	35.89%	29.96%	-29.48%	31.95%	33.35%	30.93%	-0.21%	27.19%

Correlation

The correlation between SPYG and VOOG is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.98

The correlation between SPYG and VOOG has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

SPYG vs. VOOG - Sectors Allocation Comparison

Sectors	SPYG	VOOG
Technology	52.2%	49.4%
Communication Services	16.7%	18.0%
Consumer Cyclical	8.9%	9.4%
Financial Services	8.3%	8.8%
Healthcare	5.8%	5.8%
Industrials	5.0%	6.2%
Utilities	1.1%	0.4%
Consumer Defensive	1.0%	1.0%
Real Estate	0.5%	0.6%
Basic Materials	0.3%	0.4%
Energy	0.1%	0.1%

Return for Risk

SPYG vs. VOOG — 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

VOOG

VOOG Risk / Return Rank: 55
VOOG Sharpe Ratio Rank: 59
VOOG Sortino Ratio Rank: 56
VOOG Omega Ratio Rank: 56
VOOG Calmar Ratio Rank: 47
VOOG Martin Ratio Rank: 55

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. VOOG - 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 Vanguard S&P 500 Growth ETF (VOOG). 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	VOOG	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.79	-0.02
Sortino ratio: Return per unit of downside risk	2.40	2.41	-0.01
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.12	2.13	-0.01
Martin ratio: Return relative to average drawdown	8.70	8.74	-0.04
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. VOOG - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.77, which is comparable to the VOOG Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SPYG and VOOG, 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	VOOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	1.79	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.72	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.86	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.89	-0.55

Drawdowns

SPYG vs. VOOG - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than VOOG's maximum drawdown of -32.73%. Use the drawdown chart below to compare losses from any high point for SPYG and VOOG.

Drawdown Indicators

	SPYG	VOOG	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-32.73%	-34.90%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-13.71%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-22.18%	+0.04%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-32.73%	+0.06%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-32.73%	+0.06%
Current Drawdown Current decline from peak	-4.31%	-4.28%	-0.03%
Average Drawdown Average peak-to-trough decline	-24.32%	-4.97%	-19.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	3.33%	+0.02%

Volatility

SPYG vs. VOOG - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) and Vanguard S&P 500 Growth ETF (VOOG) have volatilities of 5.67% and 5.61%, 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	VOOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	5.61%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	13.10%	13.04%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	16.31%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	21.25%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	20.77%	-0.08%

SPYG vs. VOOG - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is lower than VOOG's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SPYG vs. VOOG - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, more than VOOG's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOOG Vanguard S&P 500 Growth ETF	0.45%	0.49%	0.49%	1.12%	0.93%	0.53%	0.88%	1.26%	1.34%	1.32%	1.47%	1.56%

Frequently Asked Questions

Can I hold both SPYG and VOOG in my portfolio?

With a correlation of 0.99, SPYG and VOOG 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 VOOG?

SPYG has higher volatility (5.67%) compared to VOOG (5.61%). In terms of maximum drawdown, SPYG dropped -67.63% vs VOOG's -32.73%.

Which ETF is better, SPYG or VOOG?

On 10-year performance, SPYG leads with 17.86% vs 17.80% for VOOG. On fees, SPYG is cheaper at 0.04% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or VOOG?

Over the 10-year period, SPYG has performed better with a 17.86% return vs 17.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or VOOG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.07% for VOOG.

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

SPYG has the higher dividend yield at 0.48%, compared with 0.45% for VOOG.

What is the main difference between SPYG and VOOG?

Both ETFs track S&P 500 Growth Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.04% for SPYG and 0.07% for VOOG.

Which has better risk-adjusted returns?

VOOG currently has the higher Sharpe Ratio (1.79 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.