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ETF Comparison

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

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

Data updated August 13, 2026

Best for

  • SPYGInvestors who want broad equity exposure.
  • SPYMInvestors who want higher current income (1.05% vs 0.48% for SPYG).

Jump to the side-by-side numbers

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSPYGSPYM
Full nameState Street SPDR Portfolio S&P 500 Growth ETFSPDR Portfolio S&P 500 ETF
IssuerState StreetState Street
Last Close$122.47 as of August 13, 2026$90.94 as of August 13, 2026
Distribution yield0.48%1.05%
Distribution Safety Score™ 82100
Expense ratio0.04%0.02%
AUM$54.7B$157B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 Growth IndexS&P 500 Index
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.Tracks the S&P 500 Index, providing broad U.S. large-cap equity exposure at a low cost.
Asset classEquityEquity
Inception date09/25/200011/08/2005
Beta1.211.0
Last dividend$0.1480$0.2390
Ex-dividend date06/22/202606/12/2026

Bottom lineChoose SPYG if you want broad equity exposure. Choose SPYM if you want higher current income (1.05% vs 0.48% for SPYG).

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State Street
ETFs180
Total AUM$2127B

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.

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Visual comparison

Key metrics

Projected income on $10K

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

Total returns

SPYG has outpaced SPYM over the trailing twelve months, posting a 24.15% total return against 22.95%. The lead holds up over 10 years too: SPYG has compounded at 17.75% a year, against 15.37% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 15.0% against 19.6% for SPYG. 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 Nov 2005Volatility Sharpe Sortino Max drawdown
SPYG15.02%24.15%26.78%14.18%17.75%13.09%19.6%0.991.43-22.1%
SPYM13.72%22.95%21.53%13.32%15.37%11.36%15.0%1.011.45-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 12, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Nov 2005” measures every fund from November 15, 2005 — the youngest fund's first trading day — 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.

Quick verdict

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

SPYM offers the higher yield at 1.05% vs 0.48% for SPYG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SPYM is cheaper with an expense ratio of 0.02% compared to 0.04%.

They track different benchmarks: SPYG is linked to S&P 500 Growth Index while SPYM tracks S&P 500 Index, which means their performance drivers differ.

SPYM is the larger fund by assets ($157B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $4.00/month, while SPYM would produce $8.75/month, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.48%
SPYM yield1.05%
Monthly diff on $10K$4.75

Cost & efficiency

Over 10 years on $10,000, SPYG would cost approximately $40 in fees vs $20 for SPYM (simplified, not compounded). The $20.00 difference may be offset by yield or performance.

SPYG ER0.04%
SPYM ER0.02%

Strategy & risk

SPYG tracks S&P 500 Growth Index with an index approach, while SPYM tracks S&P 500 Index with a large cap approach. Beta is 1.21 for SPYG and 1.0 for SPYM, indicating SPYM is less volatile relative to the market.

SPYG beta1.21
SPYM beta1.0

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $54.7B in assets. SPYM is managed by State Street (launched 11/08/2005) with $157B in assets.

SPYG AUM$54.7B
SPYM AUM$157B
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Frequently asked questions

Is SPLG the same as SPYM?

Yes — same fund, new ticker. State Street renamed the SPDR Portfolio S&P 500 ETF from SPLG to SPYM; the strategy and holdings carried over unchanged, and existing shareholders kept their position under the new symbol. So results for "SPLG" are answered by SPYM's numbers: 1.05% distribution yield at a 0.02% expense ratio, with $157B in assets as of August 2026.

What is the current distribution yield for SPYG and SPYM?

SPYG currently distributes 0.48% and SPYM 1.05%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SPYG or SPYM better for dividend income?

It depends on your goals. SPYM 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.

Can I hold both SPYG and SPYM?

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 SPYG or SPYM safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPYM scores 100, SPYG scores 82, so SPYM's payout currently looks the more resilient of the two. SPYM has also shown lower price volatility (beta 1.00 vs 1.21 for SPYG). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SPYG or SPYM?

SPYG has an expense ratio of 0.04% while SPYM charges 0.02%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SPYG would generate roughly $4.00 per month ($48.00 annually). The same in SPYM would produce about $8.75 per month ($105.00 annually).

Which has performed better historically, SPYG or SPYM?

SPYG has outpaced SPYM over the trailing twelve months, posting a 24.15% total return against 22.95%. The lead holds up over 10 years too: SPYG has compounded at 17.75% a year, against 15.37% for SPYM. SPYM has been the steadier holding, though — annualized volatility of 15.0% against 19.6% for SPYG. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SPYG vs SPYM — at a glance

Generated August 8, 2026.

Overview

SPYG and SPYM are both State Street ETFs tracking S&P 500 variants, but they split the market into fundamentally different slices. SPYG targets S&P 500 Growth companies—those with higher price-to-earnings and price-to-book ratios—while SPYM holds the entire S&P 500 Index in a market-cap-weighted blend. The key distinction is style exposure: growth versus broad-market.

How they differ

SPYG isolates fast-growing companies by design, while SPYM delivers the full 500 in one basket. That style split shows up immediately in their market sensitivity: SPYG carries a beta of 1.2, meaning it swings 20% more than the market, whereas SPYM's beta of 1.0 tracks the broad index precisely. SPYG yields 0.48% to SPYM's 1.05%—the lower yield reflects growth stocks' tendency to reinvest profits rather than pay dividends. SPYG costs 0.04% annually versus SPYM's 0.02%, a negligible difference, but SPYM's $157B in AUM dwarfs SPYG's $54.7B, giving SPYM deeper trading liquidity and tighter bid-ask spreads in practice.

Who each is best for

SPYG: Fits investors who want concentrated upside to faster-growing companies and can tolerate above-market volatility; works for growth-focused portfolios or those overweighting equities in longer time horizons.

SPYM: Designed for investors seeking core U.S. large-cap exposure with minimal style tilt; suits broad-market allocations and serves as a portfolio foundation where style-specific bets belong elsewhere.

Key risks to know

  • Style concentration in SPYG. Growth stocks as a group can underperform value and dividends for extended periods; a market rotation away from growth would magnify SPYG's losses relative to the full market. SPYM avoids this by holding both styles.
  • Higher beta amplifies SPYG volatility. At a beta of 1.2, SPYG's drawdowns will exceed the market's—a 20% market decline means roughly 24% for SPYG. This magnification works both ways but raises sequence-of-returns risk for investors near or in drawdown periods.
  • Dividend yield gap signals different return composition. SPYG's lower 0.48% yield suggests future returns depend more on price appreciation; SPYM's 1.05% yield means dividends cushion volatility. Growth stocks historically trade higher valuations, which can compress future returns if multiples compress.
  • AUM disparity creates practical liquidity differences. SPYM's $157B versus SPYG's $54.7B means SPYM will have tighter spreads and faster execution on large orders; SPYG's smaller fund is still liquid but less ideal for very large positions.

Bottom line

If your investment thesis centers on long-term U.S. growth and you can stomach equity-market volatility amplified by 20%, SPYG offers concentrated access to the S&P 500's fastest-growing names; if you want a core U.S. equity holding that balances growth and value without active style decisions, SPYM delivers the full market at a fractionally lower cost and higher income. Your choice depends on whether you're building a satellite growth bet or a foundational broad-market position. Past performance in either style does not predict which will lead going forward.

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

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The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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