SPYGX vs. SPYG
SPYGX (Spyglass Growth Fund) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both funds - SPYGX is a Mid Cap Growth Equities fund managed by Spyglass Capital Management, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Over the past 5 years, SPYGX returned -0.50%/yr vs 13.61%/yr for SPYG. Their 0.76 correlation means they have sometimes moved together and sometimes differently. SPYGX charges 1.05%/yr vs 0.04%/yr for SPYG.
Performance
SPYGX vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, SPYGX achieves a -8.86% return, which is significantly lower than SPYG's 12.43% return.
SPYGX
- 1D
- 0.19%
- 1M
- -4.51%
- 6M
- 1.05%
- YTD
- -8.86%
- 1Y
- 1.05%
- 3Y*
- 19.03%
- 5Y*
- -0.50%
- 10Y*
- —
- ALL TIME*
- 11.02%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $323.67M | $273.71M | $308.17M | |
SPYGX Spyglass Growth Fund | $0.00 | $0.00 | $0.00 |
SPYGX vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPYGX Spyglass Growth Fund | -8.86% | 15.74% | 38.10% | 54.03% | -47.17% | -11.45% | 61.87% | 34.27% | 7.19% |
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% | -3.60% |
Correlation
The correlation between SPYGX and SPYG is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.68 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | 0.76 |
The correlation between SPYGX and SPYG shifts across timeframes, from 0.59 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYGX vs. SPYG — Risk / Return Rank
SPYGX
SPYG
SPYGX vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spyglass Growth Fund (SPYGX) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.
| SPYGX | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.24 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 1.78 | -1.86 |
| Martin ratioReturn relative to average drawdown | -0.19 | 6.45 | -6.63 |
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Drawdowns
SPYGX vs. SPYG - Drawdown Comparison
The maximum SPYGX drawdown since its inception was -60.08%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for SPYGX and SPYG.
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Drawdown Indicators
| SPYGX | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.08% | -67.63% | +7.55% |
Max Drawdown (1Y)Largest decline over 1 year | -30.05% | -13.76% | -16.29% |
Max Drawdown (3Y)Largest decline over 3 years | -32.90% | -22.14% | -10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -59.08% | -32.67% | -26.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -12.44% | -2.28% | -10.16% |
Average DrawdownAverage peak-to-trough decline | -19.52% | -24.20% | +4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.37% | 3.78% | +9.59% |
Volatility
SPYGX vs. SPYG - Volatility Comparison
The current volatility for Spyglass Growth Fund (SPYGX) is 5.81%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.35%. This indicates that SPYGX experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYGX | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 6.35% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 14.96% | +6.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.78% | 18.23% | +8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.76% | 21.53% | +9.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.17% | 20.81% | +8.36% |
SPYGX vs. SPYG - Expense Ratio Comparison
SPYGX has a 1.05% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
SPYGX vs. SPYG - Dividend Comparison
SPYGX has not paid dividends to shareholders, while SPYG's dividend yield for the trailing twelve months is around 0.48%.
| 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% |
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% |
Frequently Asked Questions
SPYGX and SPYG have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.35%) compared to SPYGX (5.81%). In terms of maximum drawdown, SPYGX dropped -60.08% vs SPYG's -67.63%.
SPYG currently has the higher Sharpe Ratio (1.34 vs -0.09), 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.
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