SPYX vs. CHGX

Last updated Aug 2, 2026

SPYX (State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) and CHGX (Stance Sustainable Beta ETF) are both exchange-traded funds - SPYX is a S&P 500 fund tracking the S&P 500 Fossil Fuel Reserves Free Index, while CHGX is a Large Cap Growth Equities fund tracking the Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index. Both are passively managed. Over the past 5 years, SPYX returned 12.38%/yr vs 9.09%/yr for CHGX. Their correlation of 0.87 means they have usually moved in the same direction. SPYX charges 0.20%/yr vs 0.49%/yr for CHGX.

Performance

SPYX vs. CHGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Stance Sustainable Beta ETF (CHGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYX achieves a 9.59% return, which is significantly lower than CHGX's 19.57% return.

SPYX

• 1D: 0.71%
• 1M: 0.25%
• 6M: 8.41%
• YTD: 9.59%
• 1Y: 20.93%
• 3Y*: 19.36%
• 5Y*: 12.38%
• 10Y*: 15.14%
• ALL TIME*: 14.58%

CHGX

• 1D: -0.06%
• 1M: -0.88%
• 6M: 16.02%
• YTD: 19.57%
• 1Y: 26.43%
• 3Y*: 17.27%
• 5Y*: 9.09%
• 10Y*: —
• ALL TIME*: 13.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CHGX Stance Sustainable Beta ETF	$397.74K	$582.66K	$623.16K
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	$4.48M	$4.14M	$6.01M

SPYX vs. CHGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	9.59%	17.87%	25.46%	26.38%	-19.59%	28.06%	19.87%	31.62%	-4.26%	5.68%
CHGX Stance Sustainable Beta ETF	19.57%	12.13%	15.16%	23.65%	-21.77%	22.72%	24.10%	33.07%	-5.79%	4.22%

Correlation

The correlation between SPYX and CHGX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (All Time) Calculated using the full available price history since Oct 10, 2017	0.87

The correlation between SPYX and CHGX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

SPYX vs. CHGX - Sectors Allocation Comparison

Sectors	SPYX	CHGX
Technology	38.9%	33.8%
Financial Services	12.0%	18.7%
Communication Services	10.3%	8.0%
Consumer Cyclical	9.8%	11.0%
Healthcare	9.2%	14.7%
Industrials	8.3%	3.8%
Consumer Defensive	4.7%	2.9%
Utilities	2.3%	1.0%
Real Estate	1.9%	4.1%
Basic Materials	1.7%	0.9%
Energy	1.1%	1.0%

Return for Risk

SPYX vs. CHGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPYX

SPYX Risk / Return Rank: 62
SPYX Sharpe Ratio Rank: 63
SPYX Sortino Ratio Rank: 61
SPYX Omega Ratio Rank: 61
SPYX Calmar Ratio Rank: 55
SPYX Martin Ratio Rank: 69

CHGX

CHGX Risk / Return Rank: 76
CHGX Sharpe Ratio Rank: 75
CHGX Sortino Ratio Rank: 74
CHGX Omega Ratio Rank: 69
CHGX Calmar Ratio Rank: 81
CHGX Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPYX vs. CHGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Stance Sustainable Beta ETF (CHGX). 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.

	SPYX	CHGX	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.72	-0.26
Sortino ratio: Return per unit of downside risk	2.04	2.41	-0.38
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio: Return relative to maximum drawdown	1.94	2.97	-1.02
Martin ratio: Return relative to average drawdown	8.39	10.60	-2.22

SPYX vs. CHGX - Sharpe Ratio Comparison

The current SPYX Sharpe Ratio is 1.46, which is comparable to the CHGX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SPYX and CHGX, 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

SPYX vs. CHGX - Drawdown Comparison

The maximum SPYX drawdown since its inception was -32.84%, smaller than the maximum CHGX drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for SPYX and CHGX.

Drawdown Indicators

	SPYX	CHGX	Difference
Max Drawdown Largest peak-to-trough decline	-32.84%	-35.49%	+2.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.84%	-8.50%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.74%	-18.09%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.14%	-30.26%	+4.12%
Max Drawdown (10Y) Largest decline over 10 years	-32.84%	—	—
Current Drawdown Current decline from peak	-1.18%	-3.00%	+1.82%
Average Drawdown Average peak-to-trough decline	-4.49%	-6.36%	+1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	2.38%	-0.10%

Volatility

SPYX vs. CHGX - Volatility Comparison

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) and Stance Sustainable Beta ETF (CHGX) have volatilities of 3.52% and 3.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYX	CHGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	3.43%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	10.34%	11.75%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	14.75%	-1.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	17.71%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.01%	19.30%	-1.29%

SPYX vs. CHGX - Expense Ratio Comparison

SPYX has a 0.20% expense ratio, which is lower than CHGX's 0.49% expense ratio.

Dividends

SPYX vs. CHGX - Dividend Comparison

SPYX's dividend yield for the trailing twelve months is around 0.86%, more than CHGX's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHGX Stance Sustainable Beta ETF	0.56%	0.67%	0.76%	0.94%	1.11%	0.56%	0.58%	0.86%	0.00%	0.59%	0.00%	0.00%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.86%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Frequently Asked Questions

Can I hold both SPYX and CHGX in my portfolio?

SPYX and CHGX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYX or CHGX?

SPYX has higher volatility (3.52%) compared to CHGX (3.43%). In terms of maximum drawdown, SPYX dropped -32.84% vs CHGX's -35.49%.

Which ETF is better, SPYX or CHGX?

On 5-year performance, SPYX leads with 12.38% vs 9.09% for CHGX. On fees, SPYX is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYX or CHGX?

Over the 5-year period, SPYX has performed better with a 12.38% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYX or CHGX?

SPYX is cheaper with a 0.20% expense ratio, compared with 0.49% for CHGX.

Which ETF pays a higher dividend yield, SPYX or CHGX?

SPYX has the higher dividend yield at 0.86%, compared with 0.56% for CHGX.

What is the main difference between SPYX and CHGX?

SPYX is categorized as S&P 500, while CHGX is Large Cap Growth Equities. SPYX tracks S&P 500 Fossil Fuel Reserves Free Index, while CHGX tracks Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index. They also come from different issuers: State Street and Stance. Their fees differ too: 0.20% for SPYX and 0.49% for CHGX.

Which has better risk-adjusted returns?

CHGX currently has the higher Sharpe Ratio (1.72 vs 1.46), 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.