VEGA vs. SPGM
VEGA (AdvisorShares STAR Global Buy-Write ETF) and SPGM (SPDR Portfolio MSCI Global Stock Market ETF) are both Global Equities funds. VEGA is actively managed, while SPGM is passively managed. Over the past 10 years, VEGA returned 7.65%/yr vs 12.78%/yr for SPGM. Their 0.67 correlation means they have sometimes moved together and sometimes differently. VEGA charges 2.02%/yr vs 0.09%/yr for SPGM.
Performance
VEGA vs. SPGM - Performance Comparison
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Returns By Period
In the year-to-date period, VEGA achieves a 8.26% return, which is significantly lower than SPGM's 15.04% return. Over the past 10 years, VEGA has underperformed SPGM with an annualized return of 7.65%, while SPGM has yielded a comparatively higher 12.78% annualized return.
VEGA
- 1D
- 1.23%
- 1M
- 1.59%
- 6M
- 5.92%
- YTD
- 8.26%
- 1Y
- 15.47%
- 3Y*
- 13.55%
- 5Y*
- 7.00%
- 10Y*
- 7.65%
- ALL TIME*
- 6.24%
SPGM
- 1D
- 1.84%
- 1M
- 2.90%
- 6M
- 11.08%
- YTD
- 15.04%
- 1Y
- 27.20%
- 3Y*
- 20.67%
- 5Y*
- 11.53%
- 10Y*
- 12.78%
- ALL TIME*
- 11.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $10.14M | $13.82M | $20.56M | |
| $257.33K | $224.28K | $298.61K |
VEGA vs. SPGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEGA AdvisorShares STAR Global Buy-Write ETF | 8.26% | 15.83% | 11.20% | 15.12% | -15.02% | 12.36% | 8.37% | 19.29% | -6.58% | 11.50% |
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 15.04% | 23.62% | 16.75% | 21.34% | -17.53% | 21.13% | 15.28% | 26.58% | -10.12% | 23.26% |
Correlation
The correlation between VEGA and SPGM is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 18, 2012 | 0.67 |
Over the past year, VEGA and SPGM have become more correlated (0.92) than their long-term average of 0.67, meaning their price movements have been converging.
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Return for Risk
VEGA vs. SPGM — Risk / Return Rank
VEGA
SPGM
VEGA vs. SPGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AdvisorShares STAR Global Buy-Write ETF (VEGA) 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.
| VEGA | SPGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.35 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.88 | -0.61 |
| Martin ratioReturn relative to average drawdown | 9.44 | 12.11 | -2.67 |
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Drawdowns
VEGA vs. SPGM - Drawdown Comparison
The maximum VEGA drawdown since its inception was -28.37%, smaller than the maximum SPGM drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for VEGA and SPGM.
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Drawdown Indicators
| VEGA | SPGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.37% | -33.97% | +5.60% |
Max Drawdown (1Y)Largest decline over 1 year | -6.86% | -9.50% | +2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -11.62% | -16.90% | +5.28% |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | -25.93% | +3.15% |
Max Drawdown (10Y)Largest decline over 10 years | -28.37% | -33.97% | +5.60% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -4.77% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 2.25% | -0.61% |
Volatility
VEGA vs. SPGM - Volatility Comparison
The current volatility for AdvisorShares STAR Global Buy-Write ETF (VEGA) is 3.18%, while SPDR Portfolio MSCI Global Stock Market ETF (SPGM) has a volatility of 4.34%. This indicates that VEGA experiences smaller price fluctuations and is considered to be less risky than SPGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEGA | SPGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 4.34% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.15% | 11.88% | -3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.94% | 14.13% | -4.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.31% | 16.21% | -3.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.74% | 17.34% | -4.60% |
VEGA vs. SPGM - Expense Ratio Comparison
VEGA has a 2.02% expense ratio, which is higher than SPGM's 0.09% expense ratio.
Dividends
VEGA vs. SPGM - Dividend Comparison
VEGA's dividend yield for the trailing twelve months is around 1.24%, less than SPGM's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 1.76% | 1.89% | 1.98% | 2.09% | 2.37% | 1.94% | 1.45% | 2.46% | 1.89% | 2.29% | 1.87% | 3.70% |
VEGA AdvisorShares STAR Global Buy-Write ETF | 1.24% | 1.34% | 1.05% | 1.12% | 1.89% | 0.55% | 0.28% | 0.44% | 0.45% | 0.00% | 0.81% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, VEGA 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.
SPGM has higher volatility (4.34%) compared to VEGA (3.18%). In terms of maximum drawdown, VEGA dropped -28.37% vs SPGM's -33.97%.
On 10-year performance, SPGM leads with 12.78% vs 7.65% for VEGA. On fees, SPGM is cheaper at 0.09% per year. On volatility, VEGA has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPGM has performed better with a 12.78% return vs 7.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPGM is cheaper with a 0.09% expense ratio, compared with 2.02% for VEGA.
SPGM has the higher dividend yield at 1.76%, compared with 1.24% for VEGA.
They also come from different issuers: AdvisorShares and State Street. Their fees differ too: 2.02% for VEGA and 0.09% for SPGM.
SPGM currently has the higher Sharpe Ratio (1.94 vs 1.57), 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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