SPYG vs. VUG

Last updated Aug 4, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and VUG (Vanguard Growth ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while VUG is a Large Cap Growth Equities fund tracking the CRSP US Large Cap Growth Index. Both are passively managed. Over the past 10 years, SPYG returned 17.52%/yr vs 17.52%/yr for VUG. Their 0.97 correlation means they have historically moved very closely together. SPYG charges 0.04%/yr vs 0.03%/yr for VUG.

Performance

SPYG vs. VUG - 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 Growth ETF (VUG). 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 higher than VUG's 7.33% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: SPYG at 17.52% and VUG at 17.52%.

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%

VUG

• 1D: 2.21%
• 1M: 1.85%
• 6M: 8.45%
• YTD: 7.33%
• 1Y: 17.91%
• 3Y*: 23.28%
• 5Y*: 12.56%
• 10Y*: 17.52%
• ALL TIME*: 12.19%

*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)
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	$323.67M	$273.71M	$308.17M
VUG Vanguard Growth ETF	$562.97M	$645.16M	$657.53M

SPYG vs. VUG - 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%
VUG Vanguard Growth ETF	7.33%	19.40%	32.69%	46.83%	-33.16%	27.35%	40.25%	37.03%	-3.32%	27.72%

Correlation

The correlation between SPYG and VUG is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.98
Correlation (10Y) Provides a long-term view across more market conditions.	0.98
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.97

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

SPYG vs. VUG - Sectors Allocation Comparison

Sectors	SPYG	VUG
Technology	52.3%	56.2%
Communication Services	15.6%	15.4%
Financial Services	8.7%	3.8%
Consumer Cyclical	8.6%	11.5%
Industrials	6.4%	5.3%
Healthcare	6.2%	4.7%
Consumer Defensive	1.0%	1.4%
Real Estate	0.6%	1.0%
Utilities	0.4%	0.7%
Basic Materials	0.3%	0.5%
Energy	0.1%	0.3%

Return for Risk

SPYG vs. VUG — 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

VUG

VUG Risk / Return Rank: 37
VUG Sharpe Ratio Rank: 40
VUG Sortino Ratio Rank: 39
VUG Omega Ratio Rank: 38
VUG Calmar Ratio Rank: 33
VUG Martin Ratio Rank: 35

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. VUG - 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 Growth ETF (VUG). 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	VUG	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.01	+0.33
Sortino ratio: Return per unit of downside risk	1.93	1.48	+0.44
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.05
Calmar ratio: Return relative to maximum drawdown	1.78	1.09	+0.69
Martin ratio: Return relative to average drawdown	6.45	3.45	+3.00

SPYG vs. VUG - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.34, which is higher than the VUG Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of SPYG and VUG, 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. VUG - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than VUG's maximum drawdown of -50.68%. Use the drawdown chart below to compare losses from any high point for SPYG and VUG.

Drawdown Indicators

	SPYG	VUG	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-50.68%	-16.95%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-16.53%	+2.77%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-22.85%	+0.71%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-35.61%	+2.94%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-35.61%	+2.94%
Current Drawdown Current decline from peak	-2.28%	-3.45%	+1.17%
Average Drawdown Average peak-to-trough decline	-24.20%	-7.08%	-17.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	5.20%	-1.42%

Volatility

SPYG vs. VUG - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 6.35% compared to Vanguard Growth ETF (VUG) at 5.95%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than VUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	VUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	5.95%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	14.38%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	17.76%	+0.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	22.52%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.81%	21.57%	-0.76%

SPYG vs. VUG - Expense Ratio Comparison

SPYG has a 0.04% expense ratio, which is higher than VUG's 0.03% expense ratio. However, 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. VUG - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, more than VUG's 0.39% 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%
VUG Vanguard Growth ETF	0.39%	0.41%	0.47%	0.58%	0.70%	0.48%	0.66%	0.95%	1.32%	1.14%	1.39%	1.30%

Frequently Asked Questions

Can I hold both SPYG and VUG in my portfolio?

With a correlation of 0.97, SPYG and VUG 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 VUG?

SPYG has higher volatility (6.35%) compared to VUG (5.95%). In terms of maximum drawdown, SPYG dropped -67.63% vs VUG's -50.68%.

Which ETF is better, SPYG or VUG?

On 10-year performance, VUG leads with 17.52% vs 17.52% for SPYG. On fees, VUG is cheaper at 0.03% per year. On volatility, VUG has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or VUG?

Over the 10-year period, VUG has performed better with a 17.52% return vs 17.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or VUG?

VUG is cheaper with a 0.03% expense ratio, compared with 0.04% for SPYG.

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

SPYG has the higher dividend yield at 0.48%, compared with 0.39% for VUG.

What is the main difference between SPYG and VUG?

SPYG is categorized as S&P 500, while VUG is Large Cap Growth Equities. SPYG tracks S&P 500 Growth Index, while VUG tracks CRSP US Large Cap Growth Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.04% for SPYG and 0.03% for VUG.

Which has better risk-adjusted returns?

SPYG currently has the higher Sharpe Ratio (1.34 vs 1.01), 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.