SPYGX vs. IVV

Last updated Apr 1, 2026

Compare and contrast key facts about Spyglass Growth Fund (SPYGX) and iShares Core S&P 500 ETF (IVV).

SPYGX is managed by Spyglass Capital Management. It was launched on Dec 29, 2017. IVV is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 15, 2000.

Performance

SPYGX vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Spyglass Growth Fund (SPYGX) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

SPYGX vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPYGX Spyglass Growth Fund	-27.11%	15.74%	38.10%	54.03%	-47.17%	-11.45%	61.87%	34.27%	7.19%
IVV iShares Core S&P 500 ETF	-4.38%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-7.01%

Returns By Period

In the year-to-date period, SPYGX achieves a -27.11% return, which is significantly lower than IVV's -4.38% return.

SPYGX

• 1D: 0.12%
• 1M: -12.59%
• YTD: -27.11%
• 6M: -26.70%
• 1Y: -0.41%
• 3Y*: 16.88%
• 5Y*: -3.53%
• 10Y*: —

IVV

• 1D: 2.88%
• 1M: -4.99%
• YTD: -4.38%
• 6M: -1.80%
• 1Y: 17.69%
• 3Y*: 18.29%
• 5Y*: 11.76%
• 10Y*: 14.02%

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

SPYGX vs. IVV - Expense Ratio Comparison

SPYGX has a 1.05% expense ratio, which is higher than IVV's 0.03% expense ratio.

SPYGX

Spyglass Growth Fund

IVV

iShares Core S&P 500 ETF

Return for Risk

SPYGX vs. IVV — Risk / Return Rank

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

SPYGX

SPYGX Risk / Return Rank: 5
SPYGX Sharpe Ratio Rank: 5
SPYGX Sortino Ratio Rank: 6
SPYGX Omega Ratio Rank: 6
SPYGX Calmar Ratio Rank: 5
SPYGX Martin Ratio Rank: 4

IVV

IVV Risk / Return Rank: 65
IVV Sharpe Ratio Rank: 58
IVV Sortino Ratio Rank: 62
IVV Omega Ratio Rank: 66
IVV Calmar Ratio Rank: 65
IVV Martin Ratio Rank: 75

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.

SPYGX vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Spyglass Growth Fund (SPYGX) and iShares Core S&P 500 ETF (IVV). 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.

	SPYGX	IVV	Difference
Sharpe ratio Return per unit of total volatility	-0.05	0.97	-1.02
Sortino ratio Return per unit of downside risk	0.14	1.49	-1.34
Omega ratio Gain probability vs. loss probability	1.02	1.23	-0.21
Calmar ratio Return relative to maximum drawdown	-0.13	1.53	-1.67
Martin ratio Return relative to average drawdown	-0.43	7.32	-7.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYGX vs. IVV - Sharpe Ratio Comparison

The current SPYGX Sharpe Ratio is -0.05, which is lower than the IVV Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of SPYGX and IVV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPYGX	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.05	0.97	-1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	0.70	-0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.42	-0.13

Correlation

The correlation between SPYGX and IVV is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPYGX vs. IVV - Dividend Comparison

SPYGX has not paid dividends to shareholders, while IVV's dividend yield for the trailing twelve months is around 1.23%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYGX Spyglass Growth Fund	0.00%	0.00%	0.00%	0.00%	0.06%	10.07%	2.71%	0.25%	4.95%	0.00%	0.00%	0.00%
IVV iShares Core S&P 500 ETF	1.23%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Drawdowns

SPYGX vs. IVV - Drawdown Comparison

The maximum SPYGX drawdown since its inception was -60.08%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for SPYGX and IVV.

Drawdown Indicators

	SPYGX	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-60.08%	-55.25%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-30.05%	-12.06%	-17.99%
Max Drawdown (5Y) Largest decline over 5 years	-59.90%	-24.53%	-35.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-29.97%	-6.26%	-23.71%
Average Drawdown Average peak-to-trough decline	-19.67%	-10.85%	-8.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.31%	2.53%	+6.78%

Volatility

SPYGX vs. IVV - Volatility Comparison

Spyglass Growth Fund (SPYGX) has a higher volatility of 7.46% compared to iShares Core S&P 500 ETF (IVV) at 5.30%. This indicates that SPYGX's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYGX	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.46%	5.30%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	18.04%	9.45%	+8.59%
Volatility (1Y) Calculated over the trailing 1-year period	30.83%	18.31%	+12.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.20%	16.89%	+13.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.16%	18.04%	+11.12%