SPYV vs. DGRW

Last updated Jun 14, 2026

SPYV (SPDR Portfolio S&P 500 Value ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - SPYV is a S&P 500 fund tracking the S&P 500 Value 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, SPYV returned 12.08%/yr vs 14.13%/yr for DGRW. Their correlation of 0.90 suggests significant overlap in exposure. SPYV charges 0.04%/yr vs 0.28%/yr for DGRW.

Performance

SPYV vs. DGRW - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SPYV having a 8.25% return and DGRW slightly lower at 7.88%. Over the past 10 years, SPYV has underperformed DGRW with an annualized return of 12.08%, while DGRW has yielded a comparatively higher 14.13% annualized return.

SPYV

• 1D: 0.69%
• 1M: 1.59%
• YTD: 8.25%
• 6M: 8.02%
• 1Y: 21.87%
• 3Y*: 15.13%
• 5Y*: 10.98%
• 10Y*: 12.08%

DGRW

• 1D: 0.50%
• 1M: -0.55%
• YTD: 7.88%
• 6M: 7.92%
• 1Y: 18.88%
• 3Y*: 15.58%
• 5Y*: 11.95%
• 10Y*: 14.13%

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

SPYV vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYV SPDR Portfolio S&P 500 Value ETF	8.25%	13.18%	12.24%	22.20%	-5.28%	24.91%	1.38%	31.70%	-9.01%	15.40%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	7.88%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between SPYV and DGRW is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 22, 2013	0.90

The correlation between SPYV and DGRW has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

SPYV vs. DGRW - Sectors Allocation Comparison

Sectors	SPYV	DGRW
Technology	22.4%	32.1%
Financial Services	14.5%	11.3%
Healthcare	11.5%	12.8%
Consumer Cyclical	11.1%	7.1%
Industrials	10.5%	9.9%
Consumer Defensive	8.9%	6.7%
Energy	7.0%	5.0%
Utilities	4.3%	0.2%
Real Estate	3.4%	-
Basic Materials	3.3%	3.3%
Communication Services	3.2%	10.1%

Return for Risk

SPYV vs. DGRW — Risk / Return Rank

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

SPYV

SPYV Risk / Return Rank: 75
SPYV Sharpe Ratio Rank: 75
SPYV Sortino Ratio Rank: 76
SPYV Omega Ratio Rank: 73
SPYV Calmar Ratio Rank: 75
SPYV Martin Ratio Rank: 77

DGRW

DGRW Risk / Return Rank: 59
DGRW Sharpe Ratio Rank: 60
DGRW Sortino Ratio Rank: 63
DGRW Omega Ratio Rank: 62
DGRW Calmar Ratio Rank: 49
DGRW Martin Ratio Rank: 60

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.

SPYV vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 Value ETF (SPYV) 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.

	SPYV	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.76	+0.32
Sortino ratio: Return per unit of downside risk	2.92	2.53	+0.39
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.33	2.15	+1.18
Martin ratio: Return relative to average drawdown	12.73	9.28	+3.45

SPYV vs. DGRW - Sharpe Ratio Comparison

The current SPYV Sharpe Ratio is 2.08, which is comparable to the DGRW Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of SPYV 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

SPYV vs. DGRW - Drawdown Comparison

The maximum SPYV drawdown since its inception was -58.45%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for SPYV and DGRW.

Drawdown Indicators

	SPYV	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-58.45%	-32.04%	-26.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.22%	-8.30%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-16.21%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-17.89%	-17.27%	-0.62%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	-32.04%	-4.85%
Current Drawdown Current decline from peak	-0.18%	-1.93%	+1.75%
Average Drawdown Average peak-to-trough decline	-8.71%	-3.01%	-5.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.92%	-0.29%

Volatility

SPYV vs. DGRW - Volatility Comparison

The current volatility for SPDR Portfolio S&P 500 Value ETF (SPYV) is 2.70%, while WisdomTree U.S. Quality Dividend Growth Fund (DGRW) has a volatility of 3.41%. This indicates that SPYV experiences smaller price fluctuations and is considered to be less risky than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYV	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	3.41%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	8.04%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	10.16%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	14.01%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	16.23%	+0.71%

SPYV vs. DGRW - Expense Ratio Comparison

SPYV has a 0.04% expense ratio, which is lower than DGRW's 0.28% expense ratio.

Dividends

SPYV vs. DGRW - Dividend Comparison

SPYV's dividend yield for the trailing twelve months is around 1.68%, more than DGRW's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.28%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
SPYV SPDR Portfolio S&P 500 Value ETF	1.68%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%

Frequently Asked Questions

Can I hold both SPYV and DGRW in my portfolio?

SPYV and DGRW have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYV or DGRW?

DGRW has higher volatility (3.41%) compared to SPYV (2.70%). In terms of maximum drawdown, SPYV dropped -58.45% vs DGRW's -32.04%.

Which ETF is better, SPYV or DGRW?

On 10-year performance, DGRW leads with 14.13% vs 12.08% for SPYV. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYV or DGRW?

Over the 10-year period, DGRW has performed better with a 14.13% return vs 12.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYV or DGRW?

SPYV is cheaper with a 0.04% expense ratio, compared with 0.28% for DGRW.

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

SPYV has the higher dividend yield at 1.68%, compared with 1.28% for DGRW.

What is the main difference between SPYV and DGRW?

SPYV is categorized as S&P 500, while DGRW is Dividend. SPYV tracks S&P 500 Value 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: 0.04% for SPYV and 0.28% for DGRW.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (2.08 vs 1.76), 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.