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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 September 21, 2026

Best for

  • SPYGInvestors who want broad equity exposure.
  • VOOInvestors who want higher current income (1.10% vs 0.48% 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

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

SPYG has outpaced VOO over the trailing twelve months, posting a 18.60% total return against 17.31%. The lead holds up over 10 years too: SPYG has compounded at 18.03% a year, against 15.50% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% 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 Sep 2010Volatility Sharpe Sortino Max drawdown
SPYG16.82%18.60%28.62%14.52%18.03%17.07%19.6%1.061.54-22.1%
VOO14.14%17.31%23.14%13.84%15.50%14.99%14.9%1.111.60-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 22, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — 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.
MetricSPYGVOO
Full nameState Street SPDR Portfolio S&P 500 Growth ETFVanguard S&P 500 ETF
IssuerState StreetVanguard
Underlying indexS&P 500 Growth IndexS&P 500 Index
Last Close$124.10 as of September 21, 2026$712.78 as of September 21, 2026
Distribution rate0.48%1.10%
Distribution Safety Score™ 82100
Safety-Adjusted Yield 0.39%1.10%
Expense ratio0.04%0.03%
AUM$55.0B$1076B
Distribution frequencyQuarterlyQuarterly
ObjectiveSeeks to track the total return of the S&P 500 Growth Index before fees and expenses.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
Beta1.221.0
Last dividend$0.148 declared, pays 09/23/2026$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 (1.10% vs 0.48% for SPYG).

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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.

See our curated list of related YouTube videos on SPYG.

See all State Street ETFs
Vanguard
ETFs116
Total AUM$4698B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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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 1.10% vs 0.48% 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 have different reference exposures: SPYG is linked to S&P 500 Growth Index while VOO is linked to S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1076B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SPYG would generate roughly $12.00 cash per distribution, while VOO would produce $27.50 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.48%
VOO yield1.10%
Cash diff on $10K$15.50

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 1.22 for SPYG and 1.0 for VOO, making VOO the less volatile of the two by this measure.

SPYG beta1.22
VOO beta1.0

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $55.0B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1076B in assets.

SPYG AUM$55.0B
VOO AUM$1076B
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Frequently asked questions

What is the current distribution rate for SPYG and VOO?

SPYG currently distributes 0.48% and VOO 1.10%, 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 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.

Is SPYG or VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, SPYG scores 82, so VOO's payout currently looks the more resilient of the two. VOO has also shown lower price volatility (beta 1.00 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 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 $12.00 cash per distribution ($48.00 annually). The same in VOO would produce about $27.50 cash per distribution ($110.00 annually).

Which has performed better historically, SPYG or VOO?

SPYG has outpaced VOO over the trailing twelve months, posting a 18.60% total return against 17.31%. The lead holds up over 10 years too: SPYG has compounded at 18.03% a year, against 15.50% for VOO. VOO has been the steadier holding, though — annualized volatility of 14.9% 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 VOO — at a glance

Generated September 19, 2026.

Overview

Both SPYG and VOO are large-cap equity ETFs tracking variants of the S&P 500, but they differ in their underlying index and growth orientation. This structural difference drives their risk profiles, valuations, and income yields.

How they differ

The key difference is index composition: SPYG isolates growth-oriented companies within the S&P 500, while VOO holds the full index across all three style buckets (growth, value, and blend). As a result, SPYG carries a beta of 1.22 versus VOO's 1.0, meaning SPYG amplifies market moves in both directions.

Second, SPYG's distribution rate of 0.48% trails VOO's 1.10%, a typical pattern since growth stocks emphasize capital appreciation over dividends while value stocks contribute higher yields to the broad index. Third, SPYG and VOO have nearly identical expense ratios—0.04% and 0.03% respectively—but VOO's vastly larger asset base of $1076B versus SPYG's $55.0B reflects different investor demand: VOO captures the core-holding market, while SPYG serves tactical growth tilts.

Who each is best for

SPYG: Fits investors seeking concentrated exposure to large-cap growth companies and willing to accept higher volatility in exchange for potential capital appreciation over extended holding periods.

VOO: Fits investors wanting a single-fund broad market proxy with minimal turnover and style drift, or those building a diversified portfolio core without requiring separate value or growth overlays.

Key risks to know

  • Growth factor concentration risk: SPYG's tilt toward earnings growth means it concentrates holdings in momentum-sensitive sectors (technology, communications) that can experience sharp drawdowns during rate-hiking cycles or growth-to-value rotations. VOO's style diversification buffers this risk.
  • Beta amplification: SPYG's 1.22 beta means it typically declines faster than the market during selloffs, compressing returns when volatility spikes. Investors must tolerate wider drawdowns to hold the position.
  • Dividend drought relative to broad index: SPYG's 0.48% yield leaves less cash reinvestment opportunity compared to VOO during periods when dividend income matters to total return. Over very long holding periods, this difference compounds modestly.

Bottom line

VOO is the default core-market holding—ultra-low cost, broad diversification, and proven simplicity. SPYG is a tactical tool for investors explicitly tilting toward growth and comfortable with higher volatility to pursue it. The choice hinges on whether you want the entire S&P 500 or just its growth-oriented slice. Past performance does not guarantee future results.

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.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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