ETF Comparison

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

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

Data updated June 7, 2026

State Street

ETFs86

Total AUM$2087B

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

State Street is one of the largest ETF providers globally and is known for its SPDR family of funds, which pioneered the modern ETF industry. The company's 17-fund lineup spans multiple strategies including broad market exposure (SPLG), dividend-focused income products (SPYD, SPYM), sector-specific funds (the Select Sector SPDR series), and specialized strategies like covered call income (Premium Income series) and portfolio construction tools (SPDR Portfolio). Notable for its extensive Select Sector SPDR offerings that track individual S&P 500 sectors and its focus on both traditional index investing and income-generating strategies, State Street serves investors across a wide range of investment objectives from core holdings to tactical income plays.

See our curated list of related YouTube videos on SPYG.

See all State Street ETFs

Vanguard

ETFs77

Total AUM$4480B

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

Vanguard is known for offering low-cost, passively managed ETFs that serve as core portfolio holdings for individual investors. Their fund lineup emphasizes core equity exposure and dividend income strategies, with offerings spanning domestic growth (VGT, VUG), broad market indices (VOO), dividend-focused portfolios (VYM, VIG), and international high dividend yield opportunities (VONG, VYMI). The issuer's seven funds are characterized by expense ratios among the industry's lowest and a focus on long-term, buy-and-hold investors seeking diversified equity exposure.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

Side-by-side snapshot

	SPYG	VOO
Full name	State Street SPDR Portfolio S&P 500 Growth ETF	Vanguard S&P 500 ETF
Issuer	State Street	Vanguard
Last Close	$116.55 as of June 7, 2026	$678.00 as of June 7, 2026
Distribution yield	0.46%	1.03%
Expense ratio	0.04%	0.03%
AUM	$54.3B	$996B
Distribution frequency	Quarterly	Quarterly
Underlying index	S&P 500 Growth Index	S&P 500 Index
Objective	Provide exposure to the fund's underlying index or strategy per issuer materials.	Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset class	Equity	Equity
Inception date	09/25/2000	09/07/2010
Beta	1.18	1.0
Last dividend	$0.13	$1.87
Ex-dividend date	06/22/2026	03/27/2026

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Key metrics

Projected income on $10K

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

Quick verdict

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

VOO offers the higher yield at 1.03% vs 0.46% for SPYG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.04%.

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

VOO is the larger fund by assets ($996B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $3.83/month, while VOO would produce $8.58/month, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.46%

VOO yield1.03%

Monthly diff on $10K$4.75

Cost & efficiency

Over 10 years on $10,000, SPYG would cost approximately $40 in fees vs $30 for VOO (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

SPYG ER0.04%

VOO ER0.03%

Strategy & risk

SPYG tracks S&P 500 Growth Index with an index approach, while VOO tracks S&P 500 Index with a large cap approach. Beta is 1.18 for SPYG and 1.0 for VOO, indicating VOO is less volatile relative to the market.

SPYG beta1.18

VOO beta1.0

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $54.3B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $996B in assets.

SPYG AUM$54.3B

VOO AUM$996B

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Frequently asked questions

Is SPYG or VOO better for dividend income?

It depends on your goals. VOO 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 SPYG and VOO?

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) tracks S&P 500 Growth Index with an index approach, while VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index with a large cap approach. They are issued by State Street and Vanguard respectively.

Can I hold both SPYG and VOO?

Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.

Which has lower fees, SPYG or VOO?

SPYG has an expense ratio of 0.04% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SPYG would generate roughly $3.83 per month ($46.00 annually). The same in VOO would produce about $8.58 per month ($103.00 annually).

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SPYG vs VOO — at a glance

Generated May 2026 from current fund data.

Overview

SPYG and VOO are both large-cap U.S. equity ETFs tracking S&P 500 variants, but they use different slices of the index. VOO holds the full S&P 500 (all 500 companies weighted by market cap), while SPYG isolates the growth subset—companies within the S&P 500 identified as having higher growth characteristics. This structural difference drives meaningful divergence in yield, volatility, and sector tilt.

How they differ

The core distinction is scope: VOO is a full-market tracker with nearly $981B in assets and a 1.08% distribution rate, while SPYG is a growth-only subset with $52.5B in AUM and a 0.45% yield. Because growth stocks typically pay lower dividends and reinvest earnings, SPYG's lower payout is expected. VOO's beta is exactly 1.0 by design (it mirrors the broad index), while SPYG's 1.16 beta reflects the higher price volatility and momentum sensitivity typical of growth stocks relative to the overall market. SPYG's expense ratio is marginally lower at 0.04% versus VOO's 0.03%, though the difference is negligible in dollar terms; VOO's massive scale ($981B) gives it a decisive funding advantage and tighter pricing.

Who each is best for

VOO: Fits investors seeking core large-cap U.S. equity exposure with minimal style bias, full market representation, and maximum tax efficiency from low turnover and broad diversification.

SPYG: Designed for growth-tilted allocations where an investor wants overweight exposure to higher-momentum, lower-dividend large-cap stocks within a low-cost, liquid wrapper.

Key risks to know

Style concentration in SPYG. The growth filter narrows the universe and creates sector concentration (tech, discretionary, communication services tend to dominate growth indices). Market cycles that favor value over growth can drag SPYG's returns meaningfully while VOO's broader mix offers natural diversification across styles.

Beta divergence under market stress. SPYG's 1.16 beta means it amplifies downswings in a broad equity selloff. During recessions or sharp corrections, growth stocks often fall 15–25% more than the overall market; VOO, moving in line with the broad index, will cushion that volatility.

Yield sustainability differences. VOO's 1.08% distribution is supported by a large, established dividend-paying base across all 500 constituents. SPYG's 0.45% reflects genuine lower payout ratios in its growth cohort; the gap is not a temporary anomaly but structural to the index definition.

Bottom line

VOO is the simpler choice for buy-and-hold broad market exposure with balanced sector exposure and the lowest volatility. SPYG is a tactical choice for investors who already own core holdings and want to tilt toward growth dynamics—or who believe growth will outperform value over their time horizon. The decision hinges on whether you want a neutral market bet or a deliberate style tilt. Past performance of either fund does not predict future results.

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