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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 July 22, 2026

State Street
ETFs178
Total AUM$2025B

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
Vanguard
ETFs116
Total AUM$4489B

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 emphasize broad market exposure and long-term investing. The company operates 175 ETFs across diverse fund families including Index, Bond, Equity, Dividend, Income, International, Factor, and ESG strategies, serving investors with various goals from core portfolio building to specialized income generation. Notable for its scale and popular tickers like VB (total U.S. small-cap), BND (total bond market), and VBIAX (international bonds), Vanguard focuses on providing comprehensive, index-based investment solutions with an emphasis on cost efficiency and accessibility.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

Side-by-side snapshot

SPYGVOO
Full nameState Street SPDR Portfolio S&P 500 Growth ETFVanguard S&P 500 ETF
IssuerState StreetVanguard
Last Close$118.05 as of July 22, 2026$687.87 as of July 22, 2026
Distribution yield0.50%1.14%
Distribution Safety Score™ 80100
Expense ratio0.04%0.03%
AUM$51.3B$985B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 Growth IndexS&P 500 Index
ObjectiveProvide 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 classEquityEquity
Inception date09/25/200009/07/2010
Beta1.21.0
Last dividend$0.1480$1.9622
Ex-dividend date09/21/202606/26/2026

Bottom lineChoose SPYG if you want broad equity exposure. Choose VOO if you want higher current income (1.14% vs 0.50% 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

SPYG has outpaced VOO over the trailing twelve months, posting a 21.66% total return against 20.42%. The lead holds up over 10 years too: SPYG has compounded at 17.47% a year, against 15.08% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 19.4% for SPYG. Figures are total returns: price change plus every distribution reinvested.

SymbolYTD1Y3Y5Y10YSince Sep 2010Volatility Sharpe Sortino Max drawdown
SPYG10.87%21.66%24.86%13.84%17.47%16.88%19.4%0.921.32-22.1%
VOO10.15%20.42%19.85%13.25%15.08%14.91%14.9%0.921.32-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 21, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — 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 VOO (Vanguard S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

VOO offers the higher yield at 1.14% vs 0.50% 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 ($985B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $4.17/month, while VOO would produce $9.50/month, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.50%
VOO yield1.14%
Monthly diff on $10K$5.33

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 1.2 for SPYG and 1.0 for VOO, indicating VOO is less volatile relative to the market.

SPYG beta1.2
VOO beta1.0

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $51.3B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $985B in assets.

SPYG AUM$51.3B
VOO AUM$985B
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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 — 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.

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 $4.17 per month ($50.00 annually). The same in VOO would produce about $9.50 per month ($114.00 annually).

Which has performed better historically, SPYG or VOO?

SPYG has outpaced VOO over the trailing twelve months, posting a 21.66% total return against 20.42%. The lead holds up over 10 years too: SPYG has compounded at 17.47% a year, against 15.08% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% against 19.4% 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 VOO — at a glance

Generated July 2026 from current fund data.

Overview

SPYG and VOO are both S&P 500–focused ETFs, but they track different slices of the index. VOO holds the full S&P 500 in a market-cap-weighted blend, while SPYG isolates just the growth stocks within that 500—companies with higher price-to-earnings ratios and stronger earnings momentum. That single difference cascades into different yields, volatility, and sector tilts.

How they differ

The core distinction is index construction. VOO tracks the full S&P 500 Index, so it owns value stocks, cyclicals, and dividend-heavy sectors alongside growth names. SPYG isolates the S&P 500 Growth Index, which excludes or underweights financials, utilities, and consumer staples in favor of technology, healthcare, and discretionary growth plays. That shows up in yield: VOO distributes 1.13% annually versus SPYG's 0.49%, reflecting VOO's larger holdings in dividend-paying sectors. Beta tells the story too—SPYG carries a 1.2 beta versus VOO's 1.0, meaning growth stocks amplify both up and down moves. SPYG is smaller at $51.4B in assets versus VOO's $1033B, and it has a negligibly lower expense ratio (0.04% vs. 0.03%).

Who each is best for

SPYG: Fits investors with a longer time horizon and higher risk tolerance who want concentrated exposure to growth-oriented large-cap stocks and can tolerate higher volatility in exchange for potential capital appreciation over income.

VOO: Fits investors seeking broad large-cap U.S. market exposure with minimal sector tilt, lower volatility, and higher current yield—a core holding for balanced portfolios or those prioritizing both growth and dividend income.

Key risks to know

  • Growth concentration and sector tilt: SPYG's exclusion of value and dividend-heavy sectors leaves it vulnerable to style rotations; when growth underperforms value or when rate-sensitive sectors falter, SPYG can lag meaningfully.
  • Higher beta volatility: At 1.2 beta, SPYG amplifies market downturns more sharply than VOO; a 20% broad market decline could push SPYG toward 24% or more, adding emotional and portfolio stress during crashes.
  • Yield drag on total return: SPYG's low 0.49% distribution rate means investors relying on income will reinvest less cash, potentially missing some compounding benefit in sideways markets compared to VOO's 1.13% yield.
  • Liquidity and size gap: VOO's $1033B in assets versus SPYG's $51.4B means VOO offers tighter bid-ask spreads and deeper order-matching depth, which matters for large trades or frequent rebalancing.

Bottom line

VOO serves as a true total-market U.S. large-cap core, while SPYG is a growth satellite—higher volatility, lower yield, more sector concentration. If you want a single S&P 500 holding for a long-term buy-and-hold with income reinvestment, VOO's scale and balance tend to simplify that. If you're building a multi-bucket strategy and already own value or dividend exposure elsewhere, SPYG adds a pure growth tilt. Past performance doesn't predict future results, and sector rotation can shift these tradeoffs quickly.

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

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