ETF Comparison

SPYG vs SPYV: Two Halves of the S&P 500

A head-to-head of SPDR Portfolio S&P 500 Growth and Value covering style split, cost, and how each sits next to SPY.

Data updated September 4, 2026

Best for

SPYGInvestors who want broad equity exposure.
SPYVInvestors who want higher current income (1.69% vs 0.49% for SPYG).

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

SPYG has outpaced SPYV over the trailing twelve months, posting a 22.85% total return against 18.95%. The lead holds up over 10 years too: SPYG has compounded at 17.74% a year, against 11.92% for SPYV. SPYV has been the steadier holding, though — annualized volatility of 12.4% 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.
Symbol	YTD	1Y	3Y	5Y	10Y	Since Sep 2000	Volatility	Sharpe	Sortino	Max drawdown
SPYG	14.30%	22.85%	25.77%	13.10%	17.74%	7.56%	19.6%	0.94	1.37	-22.1%
SPYV	12.29%	18.95%	15.93%	11.61%	11.92%	7.92%	12.4%	0.83	1.20	-17.5%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Sep 2000” measures every fund from September 29, 2000 — 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.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
Metric	SPYG	SPYV
Full name	State Street SPDR Portfolio S&P 500 Growth ETF	State Street SPDR Portfolio S&P 500 Value ETF
Issuer	State Street	State Street
Underlying index	S&P 500 Growth Index	S&P 500 Value Index
Last Close	$121.70 as of September 4, 2026	$63.44 as of September 4, 2026
Distribution rate	0.49%	1.69%
Distribution Safety Score™	82	92
Safety-Adjusted Yield	0.40%	1.55%
Expense ratio	0.04%	0.04%
AUM	$53.9B	$36.6B
Distribution frequency	Quarterly	Quarterly
Objective	Provide exposure to the fund's underlying index or strategy per issuer materials.	Provide exposure to the fund's underlying index or strategy per issuer materials.
Asset class	Equity	Equity
Inception date	09/25/2000	09/25/2000
Beta	1.21	0.77
Last dividend	$0.148	$0.268
Ex-dividend date	06/22/2026	06/22/2026

Bottom lineChoose SPYG if you want broad equity exposure. Choose SPYV if you want higher current income (1.69% vs 0.49% for SPYG).

Model this comparison:

Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

State Street

ETFs179

Total AUM$2124B

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 and SPYV.

See all State Street ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

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

SPYV offers the higher yield at 1.69% vs 0.49% for SPYG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They have different reference exposures: SPYG is linked to S&P 500 Growth Index while SPYV is linked to S&P 500 Value Index, which means their performance drivers differ.

SPYG is the larger fund by assets ($53.9B), but assets alone do not establish trading costs or liquidity.

Still deciding? Track SPYG & SPYV for free

Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.

Add to my watchlist See what a free account includes

Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $4.08/month, while SPYV would produce $14.08/month, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.49%

SPYV yield1.69%

Monthly diff on $10K$10.00

Cost & efficiency

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

SPYG ER0.04%

SPYV ER0.04%

Strategy & risk

SPYG tracks S&P 500 Growth Index with an index approach, while SPYV tracks S&P 500 Value Index with an index approach. Beta is 1.21 for SPYG and 0.77 for SPYV, making SPYV the less volatile of the two by this measure.

SPYG beta1.21

SPYV beta0.77

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $53.9B in assets. SPYV is managed by State Street (launched 09/25/2000) with $36.6B in assets.

SPYG AUM$53.9B

SPYV AUM$36.6B

Ready to act?

Open in Comparator Model in portfolio See pricing

Frequently asked questions

What is the difference between SPYG, SPYV, and SPY?

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) tracks S&P 500 Growth. SPYV (State Street SPDR Portfolio S&P 500 Value ETF) tracks S&P 500 Value. SPY holds the full S&P 500. Cost is 0.04% versus 0.04%; distributions are 0.49% and 1.69% as of September 2026. Style split, not a spy-vs-growth race on this page, is the comparison.

What is the current distribution rate for SPYG and SPYV?

SPYG currently distributes 0.49% and SPYV 1.69%, 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 SPYG or SPYV better for dividend income?

It depends on your goals. SPYV 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 SPYV?

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 SPYV safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SPYV scores 92, SPYG scores 82, so SPYV's payout currently looks the more resilient of the two. SPYV has also shown lower price volatility (beta 0.77 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 SPYV?

SPYG and SPYV 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 SPYG vs SPYV generate?

At current rates, $10,000 in SPYG would generate roughly $4.08 per month ($49.00 annually). The same in SPYV would produce about $14.08 per month ($169.00 annually).

Which has performed better historically, SPYG or SPYV?

More comparisons to explore

People also compare SPYG with

Popular comparisons

SPYG vs SPYV — at a glance

Generated September 5, 2026.

Overview

SPYG and SPYV are both State Street ETFs that divide the S&P 500 into its two style segments: SPYG tracks growth stocks, while SPYV tracks value stocks. Both launched on the same day and charge identical expense ratios, but they offer sharply different yield profiles and market sensitivities, making them a natural pair for investors deciding between growth and value tilts. The income gap follows: SPYV yields 1.69% versus 0.49% for SPYG, since mature, cash-generative businesses pay out more. SPYG carries a beta of 1.21, meaning it swings harder than the broad market, while SPYV's 0.77 beta indicates lower volatility. Both charge 0.04%, but SPYG manages $53.9B in assets versus $36.6B for SPYV, reflecting investor preference for growth exposure.

Who each is best for

SPYG: Fits investors who prioritize long-term capital appreciation and can tolerate higher price swings. The low distribution rate suits portfolios where dividend reinvestment or growth compounding matters more than immediate cash flow.

SPYV: Fits investors seeking steady current income and lower volatility within a core U.S. equity holding. The 1.69% yield appeals to those building a dividend-focused portfolio or nearing a period where they may need withdrawals.

Key risks to know

Style concentration within the S&P 500. SPYG and SPYV each hold a subset of the same 500 large-cap stocks, organized by valuation and growth traits. If growth names underperform for an extended period, SPYG will trail the broader market; if value underperforms, SPYV will lag. Their exposures overlap meaningfully, which you should verify against your other holdings.

Beta divergence in downturns. SPYG's 1.21 beta means it typically falls faster in market corrections, while SPYV's lower 0.77 beta provides a cushion—but that dynamic can flip in severe recessions when large-cap growth names hold up better than cyclical value stocks.

Interest-rate sensitivity. Growth stocks (SPYG's core holdings) are especially sensitive to rising discount rates, since their returns are weighted toward the distant future. Value stocks (SPYV) tend to stabilize when rates climb, but can lag when rates fall and growth accelerates.

Sector rotation risk. SPYV's tilt toward financials and energy creates material exposure to rate-sensitive and commodity-linked businesses. Structural changes in those sectors—such as banking stress or fossil-fuel demand shifts—affect SPYV more than SPYG.

Bottom line

If you expect steady earnings and prioritize current income, SPYV's 1.69% yield and lower volatility stand out; if you're building long-term capital and can tolerate larger swings, SPYG's growth tilt and 1.21 beta align with that timeline. Neither is "safer"—they amplify different market risks. Past performance doesn't predict future results, and the choice depends on where you sit in the style cycle and whether you need cash flow today.

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.

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener