ETF Comparison

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

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

Data updated September 21, 2026

Best for

SPYGInvestors who want broad equity exposure.
VUGInvestors who want a growth tilt and can accept bigger swings for higher upside.

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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 VUG over the trailing twelve months, posting a 18.47% total return against 13.30%. The picture flips over 10 years, though — VUG has compounded at 18.20% a year, ahead of SPYG at 18.12%. 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 Jan 2004	Volatility	Sharpe	Sortino	Max drawdown
SPYG	16.69%	18.47%	28.54%	14.53%	18.12%	12.22%	19.6%	1.06	1.54	-22.1%
VUG	12.57%	13.30%	26.57%	13.55%	18.20%	12.43%	19.7%	0.98	1.41	-22.8%

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 Jan 2004” measures every fund from January 30, 2004 — 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	VUG
Full name	State Street SPDR Portfolio S&P 500 Growth ETF	Vanguard Morningstar Growth ETF
Issuer	State Street	Vanguard
Underlying index	S&P 500 Growth Index	Morningstar US Large Cap Growth Index
Last Close	$124.10 as of September 21, 2026	$91.02 as of September 21, 2026
Distribution rate	0.48%	0.41%
Distribution Safety Score™	82	90
Safety-Adjusted Yield	0.39%	0.37%
Expense ratio	0.04%	0.03%
AUM	$55.0B	$232B
Distribution frequency	Quarterly	Quarterly
Objective	Seeks to track the total return of the S&P 500 Growth Index before fees and expenses.	Seeks to track the Morningstar US Large Cap Growth Index.
Asset class	Equity	Equity
Inception date	09/25/2000	01/26/2004
Beta	1.22	1.27
Last dividend	$0.1482 declared, pays 09/23/2026	$0.0923
Ex-dividend date	09/21/2026	06/26/2026

Bottom lineChoose SPYG if you want broad equity exposure. Choose VUG if you want a growth tilt and can accept bigger swings for higher upside.

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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.

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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 VUG.

See all Vanguard ETFs

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Quick verdict

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

SPYG offers the higher yield at 0.48% vs 0.41% for VUG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VUG 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 VUG is linked to Morningstar US Large Cap Growth Index, which means their performance drivers differ.

VUG is the larger fund by assets ($232B), 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 VUG would produce $10.25 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SPYG yield0.48%

VUG yield0.41%

Cash diff on $10K$1.75

Cost & efficiency

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

SPYG ER0.04%

VUG ER0.03%

Strategy & risk

SPYG tracks S&P 500 Growth Index with an index approach, while VUG tracks Morningstar US Large Cap Growth Index with a growth approach. Beta is 1.22 for SPYG and 1.27 for VUG, making SPYG the less volatile of the two by this measure.

SPYG beta1.22

VUG beta1.27

Fund details

SPYG is managed by State Street (launched 09/25/2000) with $55.0B in assets. VUG is managed by Vanguard (launched 01/26/2004) with $232B in assets.

SPYG AUM$55.0B

VUG AUM$232B

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Frequently asked questions

What is the current distribution rate for SPYG and VUG?

SPYG currently distributes 0.48% and VUG 0.41%, 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 VUG better for dividend income?

It depends on your goals. SPYG 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 VUG?

SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) tracks S&P 500 Growth Index with an index approach, while VUG (Vanguard Morningstar Growth ETF) tracks Morningstar US Large Cap Growth Index with a growth approach. They are issued by State Street and Vanguard respectively.

Can I hold both SPYG and VUG?

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 VUG safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VUG scores 90, SPYG scores 82, so VUG's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SPYG or VUG?

SPYG has an expense ratio of 0.04% while VUG 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 VUG generate?

At current rates, $10,000 in SPYG would generate roughly $12.00 cash per distribution ($48.00 annually). The same in VUG would produce about $10.25 cash per distribution ($41.00 annually).

Which has performed better historically, SPYG or VUG?

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SPYG vs VUG — at a glance

Generated September 19, 2026.

Overview

SPYG and VUG are both large-cap growth ETFs tracking different indexes via passive replication. The key distinction: VUG is considerably larger by assets and uses Morningstar's proprietary growth methodology, whereas SPYG relies on S&P's cap-weighted growth screen and carries a slightly higher expense ratio.

How they differ

The biggest operational difference is index construction: SPYG follows S&P's rules-based growth selection applied to the S&P 500, while VUG uses Morningstar's fundamentals-driven criteria for the broader US large-cap universe. Both distribute quarterly at modest yields (0.48% for SPYG, 0.41% for VUG), consistent with growth-stock exposure. SPYG carries a beta of 1.22 versus VUG's 1.27, suggesting VUG's holdings have tracked slightly higher volatility relative to the broader market in its measurement period.

Who each is best for

SPYG: Fits investors who prefer S&P's transparent, cap-weighted index methodology and seek exposure specifically within the S&P 500 universe; the lower expense ratio is a secondary benefit for very large positions.

Key risks to know

Index overlap and composition divergence. Both funds track growth-heavy indexes that may concentrate holdings in similar mega-cap technology and discretionary names, but each index's selection criteria differ, so performance correlation is high but imperfect; verify holdings if minimizing overlap matters.

Growth-multiple compression risk. Both ETFs hold stocks with elevated valuations relative to the broader market; a pullback in growth premiums or shift to value rotation could trigger sharper drawdowns than large-cap indexes.

Beta and leverage. VUG's higher beta (1.27 vs. 1.22) indicates its construction may magnify market downturns proportionally more during stress periods, a consideration for volatility-sensitive investors. Both are passive indexes tracking different growth methodologies, so the choice hinges on which index construction approach and issuer ecosystem fits your broader portfolio structure. 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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