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ETF Comparison

SCHG vs SPYG: Which Is the Better Pick in 2026?

A head-to-head comparison of Schwab U.S. Large-Cap Growth ETF and State Street SPDR Portfolio S&P 500 Growth ETF covering yield, cost, risk, and income potential.

Data updated September 21, 2026

Best for

  • SCHGInvestors who want a growth tilt and can accept bigger swings for higher upside.
  • SPYGInvestors who want broad equity exposure.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings.

SCHG has lagged SPYG over the trailing twelve months, posting a 13.30% total return against 18.60%. The picture flips over 10 years, though — SCHG has compounded at 18.84% a year, ahead of SPYG at 18.03%. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince Dec 2009Volatility Sharpe Sortino Max drawdown
SCHG12.01%13.30%26.44%14.35%18.84%16.63%19.4%0.991.42-23.4%
SPYG16.82%18.60%28.62%14.52%18.03%16.36%19.6%1.061.54-22.1%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 22, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Dec 2009” measures every fund from December 11, 2009 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSCHGSPYG
Full nameSchwab U.S. Large-Cap Growth ETFState Street SPDR Portfolio S&P 500 Growth ETF
IssuerSchwabState Street
Underlying indexDow Jones U.S. Large-Cap Growth Total Stock Market IndexS&P 500 Growth Index
Last Close$36.27 as of September 21, 2026$124.10 as of September 21, 2026
Distribution rate0.37%0.48%
Distribution Safety Score™ 10082
Safety-Adjusted Yield 0.37%0.39%
Expense ratio0.04%0.04%
AUM$65.9B$55.0B
Distribution frequencyQuarterlyQuarterly
ObjectiveSeeks to track the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, holding the components ranked 1-750 by full market capitalization that are classified as growth.Seeks to track the total return of the S&P 500 Growth Index before fees and expenses.
Asset classEquityEquity
Inception date12/11/200909/25/2000
Beta1.221.22
Last dividend$0.034$0.148 declared, pays 09/23/2026
Ex-dividend date06/24/202609/21/2026

Bottom lineChoose SCHG if you want a growth tilt and can accept bigger swings for higher upside. Choose SPYG if you want broad equity exposure.

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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Schwab
ETFs33
Total AUM$623B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHG.

See all Schwab ETFs
State Street
ETFs179
Total AUM$2099B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPYG.

See all State Street ETFs

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Quick verdict

SCHG (Schwab U.S. Large-Cap Growth ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SPYG offers the higher yield at 0.48% vs 0.37% for SCHG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They have different reference exposures: SCHG is linked to Dow Jones U.S. Large-Cap Growth Total Stock Market Index while SPYG is linked to S&P 500 Growth Index, which means their performance drivers differ.

SCHG is the larger fund by assets ($65.9B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SCHG would generate roughly $9.25 cash per distribution, while SPYG would produce $12.00 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SCHG yield0.37%
SPYG yield0.48%
Cash diff on $10K$2.75

Cost & efficiency

Over 10 years on $10,000, SCHG would cost approximately $40 in fees vs $40 for SPYG (simplified, not compounded). Both charge the same expense ratio.

SCHG ER0.04%
SPYG ER0.04%

Strategy & risk

SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPYG tracks S&P 500 Growth Index with an index approach.

SCHG beta1.22
SPYG beta1.22

Fund details

SCHG is managed by Schwab (launched 12/11/2009) with $65.9B in assets. SPYG is managed by State Street (launched 09/25/2000) with $55.0B in assets.

SCHG AUM$65.9B
SPYG AUM$55.0B
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Frequently asked questions

What is the current distribution rate for SCHG and SPYG?

SCHG currently distributes 0.37% and SPYG 0.48%, based on fund data updated September 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SCHG or SPYG better for dividend income?

It depends on your goals. SPYG currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between SCHG and SPYG?

SCHG (Schwab U.S. Large-Cap Growth ETF) tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) tracks S&P 500 Growth Index with an index approach. They are issued by Schwab and State Street respectively.

Can I hold both SCHG and SPYG?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SCHG or SPYG safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHG scores 100, SPYG scores 82, so SCHG's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHG or SPYG?

SCHG and SPYG both charge the same expense ratio of 0.04%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in SCHG vs SPYG generate?

At current rates, $10,000 in SCHG would generate roughly $9.25 cash per distribution ($37.00 annually). The same in SPYG would produce about $12.00 cash per distribution ($48.00 annually).

Which has performed better historically, SCHG or SPYG?

SCHG has lagged SPYG over the trailing twelve months, posting a 13.30% total return against 18.60%. The picture flips over 10 years, though — SCHG has compounded at 18.84% a year, ahead of SPYG at 18.03%. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHG vs SPYG — at a glance

Generated September 19, 2026.

Overview

Both SCHG and SPYG are large-cap growth ETFs tracking different but overlapping indexes—SCHG follows the Dow Jones U.S. Large-Cap Growth index across the top 750 names, while SPYG tracks the narrower S&P 500 Growth index. Both charge 0.04% and hold similar beta exposure to market swings. The key distinction is universe size: SCHG casts a wider net into mid-large names, while SPYG focuses on pure S&P 500 growth constituents.

How they differ

SPYG's narrower mandate (S&P 500 Growth only) means it holds fewer, more concentrated positions compared to SCHG's 750-name universe. SPYG carries a marginally higher distribution rate of 0.48% versus 0.37%, though both pay quarterly and charge identical 0.04% fees. SPYG has lower AUM at $55.0B compared to SCHG's $65.9B, and SPYG originated earlier (09/25/2000) than SCHG (12/11/2009), giving it a longer trading history. Both exhibit identical 1.22 beta, so systematic volatility relative to the market is the same.

Who each is best for

  • SCHG: Investors seeking growth exposure through a broader universe and lighter concentration in mega-cap names; fits allocations that value the added depth of the Dow Jones framework and want lower single-position weight.
  • SPYG: Investors comfortable with S&P 500 Growth's tighter focus on 500 large-cap growth names; suits those already building around the S&P 500 architecture and prefer the simplicity of a single-index core holding.

Key risks to know

  • Concentration in growth factors: Both ETFs hold companies screened for growth characteristics, creating sector overlap in technology and discretionary stocks. A reversal in growth valuations or sector rotation out of growth names would pressure both simultaneously.
  • Beta equivalence masks positioning differences: While both report 1.22 beta, SCHG's broader 750-name spread distributes that volatility across more positions, whereas SPYG concentrates it in 500 names. SPYG's narrower roster may amplify single-stock moves.
  • Low yield in growth cycles: Both funds' distribution rates (0.37% and 0.48%) reflect the dividend-sparse nature of growth equity; income-focused investors should expect most returns from price appreciation rather than distributions.

Bottom line

If you prefer a broad growth mandate with lower concentration risk, SCHG's 750-name reach stands out; if you want to stay within the S&P 500 framework or expect growth factors to remain core to your strategy, SPYG's cleaner S&P 500 Growth focus offers familiarity. Both charge the same fees and move with similar market beta, so the choice hinges on index philosophy and tolerance for concentration. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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