SPYM vs. DGRW

Last updated Jun 17, 2026

SPYM (State Street SPDR Portfolio S&P 500 ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - SPYM is a S&P 500 fund tracking the S&P 500 Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, SPYM returned 15.66%/yr vs 14.22%/yr for DGRW. Their correlation of 0.89 suggests significant overlap in exposure. SPYM charges 0.02%/yr vs 0.28%/yr for DGRW.

Performance

SPYM vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 ETF (SPYM) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYM achieves a 10.39% return, which is significantly higher than DGRW's 8.75% return. Over the past 10 years, SPYM has outperformed DGRW with an annualized return of 15.66%, while DGRW has yielded a comparatively lower 14.22% annualized return.

SPYM

• 1D: -0.56%
• 1M: 1.54%
• YTD: 10.39%
• 6M: 11.20%
• 1Y: 26.02%
• 3Y*: 21.01%
• 5Y*: 13.82%
• 10Y*: 15.66%

DGRW

• 1D: -0.29%
• 1M: 1.16%
• YTD: 8.75%
• 6M: 9.56%
• 1Y: 19.17%
• 3Y*: 15.41%
• 5Y*: 12.39%
• 10Y*: 14.22%

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

SPYM vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYM State Street SPDR Portfolio S&P 500 ETF	10.39%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	8.75%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between SPYM and DGRW is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 22, 2013	0.89

The correlation between SPYM and DGRW has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

SPYM vs. DGRW - Sectors Allocation Comparison

Sectors	SPYM	DGRW
Technology	39.0%	32.1%
Financial Services	11.1%	11.3%
Communication Services	10.6%	10.1%
Consumer Cyclical	9.9%	7.1%
Healthcare	8.3%	12.8%
Industrials	7.8%	9.9%
Consumer Defensive	4.5%	6.7%
Energy	3.1%	5.0%
Utilities	2.1%	0.2%
Real Estate	1.8%	-
Basic Materials	1.7%	3.3%

Return for Risk

SPYM vs. DGRW — Risk / Return Rank

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

SPYM

SPYM Risk / Return Rank: 67
SPYM Sharpe Ratio Rank: 68
SPYM Sortino Ratio Rank: 65
SPYM Omega Ratio Rank: 68
SPYM Calmar Ratio Rank: 60
SPYM Martin Ratio Rank: 73

DGRW

DGRW Risk / Return Rank: 57
DGRW Sharpe Ratio Rank: 58
DGRW Sortino Ratio Rank: 60
DGRW Omega Ratio Rank: 60
DGRW Calmar Ratio Rank: 48
DGRW Martin Ratio Rank: 58

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.

SPYM vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 ETF (SPYM) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	SPYM	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.90	+0.23
Sortino ratio: Return per unit of downside risk	2.88	2.73	+0.16
Omega ratio: Gain probability vs. loss probability	1.39	1.35	+0.04
Calmar ratio: Return relative to maximum drawdown	2.94	2.32	+0.62
Martin ratio: Return relative to average drawdown	13.28	10.01	+3.27

SPYM vs. DGRW - Sharpe Ratio Comparison

The current SPYM Sharpe Ratio is 2.13, which is comparable to the DGRW Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SPYM and DGRW, 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

SPYM vs. DGRW - Drawdown Comparison

The maximum SPYM drawdown since its inception was -54.46%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for SPYM and DGRW.

Drawdown Indicators

	SPYM	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-54.46%	-32.04%	-22.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.30%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.72%	-16.21%	-2.51%
Max Drawdown (5Y) Largest decline over 5 years	-24.48%	-17.27%	-7.21%
Max Drawdown (10Y) Largest decline over 10 years	-33.87%	-32.04%	-1.83%
Current Drawdown Current decline from peak	-1.19%	-1.14%	-0.05%
Average Drawdown Average peak-to-trough decline	-7.14%	-3.01%	-4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.92%	+0.05%

Volatility

SPYM vs. DGRW - Volatility Comparison

State Street SPDR Portfolio S&P 500 ETF (SPYM) has a higher volatility of 4.47% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 3.30%. This indicates that SPYM's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYM	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	3.30%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	8.07%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	10.16%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	14.02%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	16.23%	+1.81%

SPYM vs. DGRW - Expense Ratio Comparison

SPYM has a 0.02% expense ratio, which is lower than DGRW's 0.28% expense ratio.

Dividends

SPYM vs. DGRW - Dividend Comparison

SPYM's dividend yield for the trailing twelve months is around 1.28%, which matches DGRW's 1.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.27%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.28%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both SPYM and DGRW in my portfolio?

With a correlation of 0.90, SPYM and DGRW 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, SPYM or DGRW?

SPYM has higher volatility (4.47%) compared to DGRW (3.30%). In terms of maximum drawdown, SPYM dropped -54.46% vs DGRW's -32.04%.

Which ETF is better, SPYM or DGRW?

On 10-year performance, SPYM leads with 15.66% vs 14.22% for DGRW. On fees, SPYM is cheaper at 0.02% per year. On volatility, DGRW has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYM or DGRW?

Over the 10-year period, SPYM has performed better with a 15.66% return vs 14.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYM or DGRW?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.28% for DGRW.

Which ETF pays a higher dividend yield, SPYM or DGRW?

SPYM has the higher dividend yield at 1.28%, compared with 1.27% for DGRW.

What is the main difference between SPYM and DGRW?

SPYM is categorized as S&P 500, while DGRW is Dividend. SPYM tracks S&P 500 Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.02% for SPYM and 0.28% for DGRW.

Which has better risk-adjusted returns?

SPYM currently has the higher Sharpe Ratio (2.13 vs 1.90), 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.