SPYG vs. VYM

Last updated Jun 9, 2026

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) and VYM (Vanguard High Dividend Yield ETF) are both exchange-traded funds - SPYG is a S&P 500 fund tracking the S&P 500 Growth Index, while VYM is a Dividend fund tracking the FTSE High Dividend Yield Index. Both are passively managed. Over the past 10 years, SPYG returned 17.86%/yr vs 11.70%/yr for VYM. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.04% expense ratio.

Performance

SPYG vs. VYM - 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 High Dividend Yield ETF (VYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYG achieves a 10.10% return, which is significantly lower than VYM's 10.82% return. Over the past 10 years, SPYG has outperformed VYM with an annualized return of 17.86%, while VYM has yielded a comparatively lower 11.70% annualized return.

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%

VYM

• 1D: -0.08%
• 1M: 1.71%
• YTD: 10.82%
• 6M: 10.58%
• 1Y: 24.30%
• 3Y*: 17.89%
• 5Y*: 11.33%
• 10Y*: 11.70%

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

SPYG vs. VYM - 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%
VYM Vanguard High Dividend Yield ETF	10.82%	15.42%	17.60%	6.57%	-0.43%	26.20%	1.15%	24.06%	-5.92%	16.42%

Correlation

The correlation between SPYG and VYM is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Nov 17, 2006	0.77

Over the past year, the correlation between SPYG and VYM has dropped to 0.49 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

SPYG vs. VYM - Sectors Allocation Comparison

Sectors	SPYG	VYM
Technology	52.2%	17.7%
Communication Services	16.7%	3.5%
Consumer Cyclical	8.9%	6.7%
Financial Services	8.3%	20.5%
Healthcare	5.8%	12.2%
Industrials	5.0%	12.1%
Utilities	1.1%	5.7%
Consumer Defensive	1.0%	8.1%
Real Estate	0.5%	0.0%
Basic Materials	0.3%	3.5%
Energy	0.1%	9.8%

Return for Risk

SPYG vs. VYM — 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

VYM

VYM Risk / Return Rank: 80
VYM Sharpe Ratio Rank: 81
VYM Sortino Ratio Rank: 83
VYM Omega Ratio Rank: 80
VYM Calmar Ratio Rank: 78
VYM Martin Ratio Rank: 78

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. VYM - 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 High Dividend Yield ETF (VYM). 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	VYM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.36	-0.59
Sortino ratio: Return per unit of downside risk	2.40	3.36	-0.95
Omega ratio: Gain probability vs. loss probability	1.31	1.43	-0.11
Calmar ratio: Return relative to maximum drawdown	2.12	3.65	-1.53
Martin ratio: Return relative to average drawdown	8.70	13.64	-4.94
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. VYM - Sharpe Ratio Comparison

The current SPYG Sharpe Ratio is 1.77, which is comparable to the VYM Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of SPYG and VYM, 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	VYM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.36	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.81	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.72	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.50	-0.16

Drawdowns

SPYG vs. VYM - Drawdown Comparison

The maximum SPYG drawdown since its inception was -67.63%, which is greater than VYM's maximum drawdown of -56.98%. Use the drawdown chart below to compare losses from any high point for SPYG and VYM.

Drawdown Indicators

	SPYG	VYM	Difference
Max Drawdown Largest peak-to-trough decline	-67.63%	-56.98%	-10.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-6.69%	-7.07%
Max Drawdown (3Y) Largest decline over 3 years	-22.14%	-14.46%	-7.68%
Max Drawdown (5Y) Largest decline over 5 years	-32.67%	-15.84%	-16.83%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-35.21%	+2.54%
Current Drawdown Current decline from peak	-4.31%	-1.89%	-2.42%
Average Drawdown Average peak-to-trough decline	-24.32%	-7.19%	-17.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	1.79%	+1.56%

Volatility

SPYG vs. VYM - Volatility Comparison

State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a higher volatility of 5.67% compared to Vanguard High Dividend Yield ETF (VYM) at 2.82%. This indicates that SPYG's price experiences larger fluctuations and is considered to be riskier than VYM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYG	VYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	2.82%	+2.85%
Volatility (6M) Calculated over the trailing 6-month period	13.10%	7.73%	+5.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.53%	10.35%	+6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	13.98%	+7.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	16.35%	+4.34%

SPYG vs. VYM - Expense Ratio Comparison

Both SPYG and VYM 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. VYM - Dividend Comparison

SPYG's dividend yield for the trailing twelve months is around 0.48%, less than VYM's 2.22% 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%
VYM Vanguard High Dividend Yield ETF	2.22%	2.44%	2.74%	3.12%	3.01%	2.76%	3.18%	3.03%	3.40%	2.80%	2.91%	3.22%

Frequently Asked Questions

Can I hold both SPYG and VYM in my portfolio?

SPYG and VYM have a correlation of 0.49, 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 VYM?

SPYG has higher volatility (5.67%) compared to VYM (2.82%). In terms of maximum drawdown, SPYG dropped -67.63% vs VYM's -56.98%.

Which ETF is better, SPYG or VYM?

On 10-year performance, SPYG leads with 17.86% vs 11.70% for VYM. Both ETFs have the same 0.04% expense ratio. On volatility, VYM has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYG or VYM?

Over the 10-year period, SPYG has performed better with a 17.86% return vs 11.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYG or VYM?

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

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

VYM has the higher dividend yield at 2.22%, compared with 0.48% for SPYG.

What is the main difference between SPYG and VYM?

SPYG is categorized as S&P 500, while VYM is Dividend. SPYG tracks S&P 500 Growth Index, while VYM tracks FTSE High Dividend Yield Index. They also come from different issuers: State Street and Vanguard.

Which has better risk-adjusted returns?

VYM currently has the higher Sharpe Ratio (2.36 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.