VMGAX vs. SPYG
Compare and contrast key facts about Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG).
VMGAX is managed by Vanguard. It was launched on Apr 3, 2008. SPYG is a passively managed fund by State Street that tracks the performance of the S&P 500 Growth Index. It was launched on Sep 25, 2000.
Performance
VMGAX vs. SPYG - Performance Comparison
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VMGAX vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | -14.31% | 20.73% | 32.98% | 51.57% | -33.55% | 28.50% | 41.02% | 37.54% | -2.86% | 29.49% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | -8.12% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.12% | 27.24% |
Returns By Period
In the year-to-date period, VMGAX achieves a -14.31% return, which is significantly lower than SPYG's -8.12% return. Both investments have delivered pretty close results over the past 10 years, with VMGAX having a 16.40% annualized return and SPYG not far behind at 15.75%.
VMGAX
- 1D
- -0.52%
- 1M
- -8.64%
- YTD
- -14.31%
- 6M
- -12.02%
- 1Y
- 14.93%
- 3Y*
- 20.56%
- 5Y*
- 11.89%
- 10Y*
- 16.40%
SPYG
- 1D
- 4.08%
- 1M
- -5.34%
- YTD
- -8.12%
- 6M
- -6.05%
- 1Y
- 22.51%
- 3Y*
- 21.85%
- 5Y*
- 12.24%
- 10Y*
- 15.75%
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VMGAX vs. SPYG - Expense Ratio Comparison
VMGAX has a 0.06% expense ratio, which is higher than SPYG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
VMGAX vs. SPYG — Risk / Return Rank
VMGAX
SPYG
VMGAX vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.
| VMGAX | SPYG | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.65 | 1.01 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.11 | 1.58 | -0.48 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.71 | 1.66 | -0.95 |
Martin ratioReturn relative to average drawdown | 2.55 | 6.54 | -3.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VMGAX | SPYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 1.01 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.58 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.77 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.31 | +0.27 |
Correlation
The correlation between VMGAX and SPYG is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VMGAX vs. SPYG - Dividend Comparison
VMGAX's dividend yield for the trailing twelve months is around 0.42%, less than SPYG's 0.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VMGAX Vanguard Mega Cap Growth Index Fund Institutional Shares | 0.42% | 0.36% | 0.44% | 0.51% | 0.71% | 0.42% | 0.65% | 0.86% | 1.13% | 1.23% | 1.53% | 1.44% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.58% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Drawdowns
VMGAX vs. SPYG - Drawdown Comparison
The maximum VMGAX drawdown since its inception was -47.97%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for VMGAX and SPYG.
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Drawdown Indicators
| VMGAX | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.97% | -67.63% | +19.66% |
Max Drawdown (1Y)Largest decline over 1 year | -16.78% | -13.76% | -3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -36.03% | -32.67% | -3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -36.03% | -32.67% | -3.36% |
Current DrawdownCurrent decline from peak | -16.78% | -10.24% | -6.54% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -24.48% | +17.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.69% | 3.50% | +1.19% |
Volatility
VMGAX vs. SPYG - Volatility Comparison
The current volatility for Vanguard Mega Cap Growth Index Fund Institutional Shares (VMGAX) is 5.62%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 7.20%. This indicates that VMGAX experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMGAX | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 7.20% | -1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 12.29% | 12.83% | -0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.18% | 22.39% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 21.13% | +1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.80% | 20.57% | +1.23% |