TGLB vs. SPGM

Last updated Jul 21, 2026

TGLB (T. Rowe Price Global Equity ETF) and SPGM (SPDR Portfolio MSCI Global Stock Market ETF) are both Global Equities funds. Over the past year, TGLB returned 12.65% vs 23.09% for SPGM. Their correlation of 0.91 suggests significant overlap in exposure. TGLB charges 0.46%/yr vs 0.09%/yr for SPGM.

Performance

TGLB vs. SPGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Global Equity ETF (TGLB) and SPDR Portfolio MSCI Global Stock Market ETF (SPGM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TGLB having a 10.62% return and SPGM slightly higher at 10.72%.

TGLB

• 1D: -0.76%
• 1M: -0.46%
• 6M: 8.63%
• YTD: 10.62%
• 1Y: 12.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.06%

SPGM

• 1D: -0.31%
• 1M: -2.09%
• 6M: 7.61%
• YTD: 10.72%
• 1Y: 23.09%
• 3Y*: 18.63%
• 5Y*: 11.04%
• 10Y*: 12.33%
• ALL TIME*: 11.18%

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

TGLB vs. SPGM - Yearly Performance Comparison

	2026 (YTD)	2025
TGLB T. Rowe Price Global Equity ETF	10.62%	3.99%
SPGM SPDR Portfolio MSCI Global Stock Market ETF	10.72%	14.57%

Correlation

The correlation between TGLB and SPGM is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.91

The correlation between TGLB and SPGM has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

TGLB vs. SPGM - Sectors Allocation Comparison

Sectors	TGLB	SPGM
Technology	34.3%	30.7%
Financial Services	18.1%	16.4%
Communication Services	11.5%	7.7%
Industrials	8.6%	12.7%
Consumer Cyclical	7.8%	8.7%
Healthcare	7.2%	8.4%
Basic Materials	4.8%	3.5%
Energy	4.0%	3.7%
Utilities	2.4%	2.0%
Consumer Defensive	1.2%	4.5%
Real Estate	-	1.8%

Return for Risk

TGLB vs. SPGM — Risk / Return Rank

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

TGLB

TGLB Risk / Return Rank: 34
TGLB Sharpe Ratio Rank: 33
TGLB Sortino Ratio Rank: 32
TGLB Omega Ratio Rank: 31
TGLB Calmar Ratio Rank: 34
TGLB Martin Ratio Rank: 40

SPGM

SPGM Risk / Return Rank: 70
SPGM Sharpe Ratio Rank: 70
SPGM Sortino Ratio Rank: 68
SPGM Omega Ratio Rank: 69
SPGM Calmar Ratio Rank: 66
SPGM Martin Ratio Rank: 77

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.

TGLB vs. SPGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Global Equity ETF (TGLB) and SPDR Portfolio MSCI Global Stock Market ETF (SPGM). 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.

	TGLB	SPGM	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.68	-0.80
Sortino ratio: Return per unit of downside risk	1.30	2.33	-1.03
Omega ratio: Gain probability vs. loss probability	1.16	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	1.30	2.44	-1.14
Martin ratio: Return relative to average drawdown	4.58	10.45	-5.87

TGLB vs. SPGM - Sharpe Ratio Comparison

The current TGLB Sharpe Ratio is 0.88, which is lower than the SPGM Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TGLB and SPGM, 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

TGLB vs. SPGM - Drawdown Comparison

The maximum TGLB drawdown since its inception was -9.78%, smaller than the maximum SPGM drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for TGLB and SPGM.

Drawdown Indicators

	TGLB	SPGM	Difference
Max Drawdown Largest peak-to-trough decline	-9.78%	-33.97%	+24.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-9.50%	-0.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.97%	—
Current Drawdown Current decline from peak	-2.30%	-2.76%	+0.46%
Average Drawdown Average peak-to-trough decline	-1.79%	-4.78%	+2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	2.21%	+0.56%

Volatility

TGLB vs. SPGM - Volatility Comparison

T. Rowe Price Global Equity ETF (TGLB) has a higher volatility of 3.85% compared to SPDR Portfolio MSCI Global Stock Market ETF (SPGM) at 3.66%. This indicates that TGLB's price experiences larger fluctuations and is considered to be riskier than SPGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGLB	SPGM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	3.66%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	12.11%	11.63%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.42%	13.84%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	16.14%	-2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.14%	17.42%	-3.28%

TGLB vs. SPGM - Expense Ratio Comparison

TGLB has a 0.46% expense ratio, which is higher than SPGM's 0.09% expense ratio.

Dividends

TGLB vs. SPGM - Dividend Comparison

TGLB's dividend yield for the trailing twelve months is around 0.18%, less than SPGM's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPGM SPDR Portfolio MSCI Global Stock Market ETF	1.83%	1.89%	1.98%	2.09%	2.37%	1.94%	1.45%	2.46%	1.89%	2.29%	1.87%	3.70%
TGLB T. Rowe Price Global Equity ETF	0.18%	0.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGLB and SPGM in my portfolio?

With a correlation of 0.91, TGLB and SPGM 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, TGLB or SPGM?

TGLB has higher volatility (3.85%) compared to SPGM (3.66%). In terms of maximum drawdown, TGLB dropped -9.78% vs SPGM's -33.97%.

Which ETF is better, TGLB or SPGM?

On 1-year performance, SPGM leads with 23.09% vs 12.65% for TGLB. On fees, SPGM is cheaper at 0.09% per year. On volatility, SPGM has been the lower-risk option at 3.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TGLB or SPGM?

Over the 1-year period, SPGM has performed better with a 23.09% return vs 12.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGLB or SPGM?

SPGM is cheaper with a 0.09% expense ratio, compared with 0.46% for TGLB.

Which ETF pays a higher dividend yield, TGLB or SPGM?

SPGM has the higher dividend yield at 1.83%, compared with 0.18% for TGLB.

What is the main difference between TGLB and SPGM?

They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.46% for TGLB and 0.09% for SPGM.

Which has better risk-adjusted returns?

SPGM currently has the higher Sharpe Ratio (1.68 vs 0.88), 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.