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 21, 2026

Best for

SPYGInvestors who want broad equity exposure.
SPYVInvestors who want higher current income (1.71% vs 0.48% for SPYG).

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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

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

SPYG has outpaced SPYV over the trailing twelve months, posting a 18.47% total return against 15.93%. The lead holds up over 10 years too: SPYG has compounded at 18.12% a year, against 12.05% 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	16.69%	18.47%	28.54%	14.53%	18.12%	7.63%	19.6%	1.06	1.54	-22.1%
SPYV	11.12%	15.93%	16.54%	12.19%	12.05%	7.86%	12.4%	0.88	1.27	-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 21, 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 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.
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	$124.10 as of September 21, 2026	$62.51 as of September 21, 2026
Distribution rate	0.48%	1.71%
Distribution Safety Score™	82	92
Safety-Adjusted Yield	0.39%	1.57%
Expense ratio	0.04%	0.04%
AUM	$55.0B	$36.3B
Distribution frequency	Quarterly	Quarterly
Objective	Seeks to track the total return of the S&P 500 Growth Index before fees and expenses.	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	1.22	0.76
Last dividend	$0.1482 declared, pays 09/23/2026	$0.2677 declared, pays 09/23/2026
Ex-dividend date	09/21/2026	09/21/2026

Bottom lineChoose SPYG if you want broad equity exposure. Choose SPYV if you want higher current income (1.71% vs 0.48% for SPYG).

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

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.

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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 1.71% vs 0.48% 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 ($55.0B), but assets alone do not establish trading costs or liquidity.

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Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $12.00 cash per distribution, while SPYV would produce $42.75 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.48%

SPYV yield1.71%

Cash diff on $10K$30.75

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 1.22 for SPYG and 0.76 for SPYV, making SPYV the less volatile of the two by this measure.

SPYG beta1.22

SPYV beta0.76

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $55.0B in assets. SPYV is managed by State Street (launched 09/25/2000) with $36.3B in assets.

SPYG AUM$55.0B

SPYV AUM$36.3B

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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 0.48% and 1.71% 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 0.48% and SPYV 1.71%, 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 0.76 vs 1.22 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 $12.00 cash per distribution ($48.00 annually). The same in SPYV would produce about $42.75 cash per distribution ($171.00 annually).

Which has performed better historically, SPYG or SPYV?

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SPYG vs SPYV — at a glance

Generated September 19, 2026.

Overview

SPYG and SPYV are both State Street ETFs tracking S&P 500 subsets, launched on the same date and charging identical expense ratios. The key difference is their stock selection: SPYG holds growth-oriented companies within the S&P 500, while SPYV holds value-oriented ones. This structural split determines everything else about them—beta, yield, and volatility profile.

How they differ

The biggest difference is their underlying index and the types of stocks each holds. Beta tells a related story—SPYG's 1.22 beta means growth stocks swing harder when the market moves, while SPYV's 0.76 beta suggests value stocks are relatively dampened. Both charge 0.04%, but SPYG holds $55.0B in AUM compared to SPYV's $36.3B, reflecting stronger investor demand for growth exposure.

Who each is best for

SPYG: Fits investors seeking long-term capital appreciation with minimal current income, comfortable with higher volatility and a tech-skewed portfolio, and willing to accept lower dividend yield in exchange for growth-stock beta.

SPYV: Fits investors prioritizing current income alongside market exposure, preferring lower portfolio volatility, and comfortable with value-heavy sector concentration (financials, energy, industrials).

Key risks to know

Style concentration risk: SPYG's growth tilt and SPYV's value tilt mean each is missing half the S&P 500. Growth outperformance over the past decade has left SPYG well-rewarded but concentrated; value underperformance has weighed on SPYV. These swings can persist for years.

Sector overlap risk: Both ETFs hold S&P 500 stocks, so their holdings overlap significantly. Broad market downturns affect both, even if their relative performance diverges. Verify current holdings to confirm they're truly complementary to your portfolio.

Valuation reversion risk: SPYV's 1.71% yield looks attractive, but it depends on the earnings and dividend policies of value stocks, which can shift during economic stress. SPYG's low yield and high beta mean it can amplify losses in sustained downturns.

Interest-rate sensitivity: Value stocks and their higher dividends become less competitive if interest rates rise sharply. Growth stocks' longer duration of future cash flows makes them more sensitive to rate increases in the opposite direction.

Bottom line

If you want equity exposure tilted toward current income and lower volatility, SPYV's higher yield and lower beta appeal; if you're building for long-term growth and can tolerate swings, SPYG's lighter dividend and higher growth-stock beta may suit you better. Both are low-cost and liquid, but they deliver very different return profiles—this is a style choice, not a quality choice. Past performance of either style doesn't predict future returns.

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

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