BUL vs SPYG: Grades, Fees and Holdings Compared

Pacer US Cash Cows Growth ETF

BULDNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

3.1%by weight

Expense ratio

SPYG −0.56pt a year

BUL0.60%SPYG0.04%

Avg volume · 30D

SPYG 242.3×the volume

BUL9.42KSPYG2.28M

5Y return · a year

SPYG +2.6pt

BUL+9.0%SPYG+11.6%

BUL vs SPYG Performance

Oct 29, 2021 – Oct 30, 2026

+53.9%BUL+73.4%SPYG

Expense ratio: BUL 0.60%; SPYG 0.04%, better
Fund size: BUL $127M; SPYG $55.5B
1Y total return: BUL +13.9%, better; SPYG +8.3%
Yield (12M): BUL 0.16%; SPYG 0.50%, better
Holdings: BUL 51; SPYG 154
Avg volume (30D): BUL 9.42K sh; SPYG 2.28M sh, better
NAV per share: BUL $60.71; SPYG $119.59
52W range

ETF.net Grade

Pillar letters and Scores for BUL, SPYG, with each pillar’s weight
Pillar	BUL	SPYG
Cost30% weight	F6	A96Higher
Mission25% weight	Not scored	A98
Risk15% weight	B67Higher	B62
Tradability15% weight	F22	A95Higher
Holdings10% weight	C50Higher	D38
Durability5% weight	C41	A79Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. BUL and SPYG are both graded against the same 35 US Growth Index funds, so their Grades compare head to head.

US Growth Index⁠

Category · 35 funds

See all 35 ›

SPYG ranks 1st and BUL 35th of 35 funds in the US Growth Index Category.

Rank 1ASPYGState Street SPDR Portfolio S&P 500 Growth ETFScore 84
Rank 2AILCGiShares Morningstar Growth ETFScore 78
Rank 34DFSGSFirst Trust SMID Growth Strength ETFScore 36
Rank 35DBULPacer US Cash Cows Growth ETFScore 29

Our read on each fund

ETF.net Research

BULDPacer US Cash Cows Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

BUL Growth stocks that actually generate cash. BUL screens the growth half of the S&P 900 and keeps about 50 names that clear free cash flow and quality tests, Pacer's Cash Cows logic pointed at growth.

SPYG The growth half of the S&P 500 for 0.04% a year, running since 2000. No exotic screen, no reinvention: just the index's fastest-growing names, in the cheapest wrapper tracking that index.

Stated mandate

BUL The Fund seeks capital appreciation by tracking the Pacer US Cash Cows Growth Index, which screens the S&P 900 Pure Growth Index and selects leading companies using free cash flow yield and quality criteria.

SPYG The fund seeks to track, before fees and expenses, the total return of the S&P 500 Growth Index. It provides exposure to S&P 500 companies selected for strong growth characteristics.

Why people hold it

BUL Cash flow is the gate, not the story. The index starts from S&P 900 pure growth names and keeps only those clearing free cash flow and quality screens.paceretfs.com
Deliberately concentrated: about 50 holdings, so the screen actually shows up in the portfolio instead of getting diluted by hundreds of names.
Live since 2019 and pays shareholders quarterly, with a published rules-based index behind every rebalance.

SPYG Costs 0.04% a year, well under the typical fee in the US growth-ETF group.
The cheapest way to buy the S&P 500 Growth Index: VOOG follows the same benchmark at 0.07%.
Has tracked its index tightly, one of the strongest implementations among growth funds we grade.
Trading since 2000, now a multi-billion-dollar fund that changes hands actively, so spreads stay thin. Pays quarterly.

Worth knowing

BUL Cost is the trade-off: 0.60% a year, versus roughly 0.18% for the typical US growth fund and a few basis points at VUG or SCHG.
Thinly traded compared with the category's giants, so spreads and order size deserve more attention here.
A rules screen means it can look very different from a plain growth index in any given stretch, for better or worse.

SPYG About 150 stocks, not 500. You get the growth slice, which means heavier single-name and sector concentration than the full index.
The index screens on growth and momentum, so rebalances lean into names that have already run and the ride is bumpier than the broad market.
Large-cap US only. No small caps, no international, no bonds.

Full BUL profile⁠

Full SPYG profile⁠

BUL vs SPYG Holdings

As of Oct 23, 2026

How BUL and SPYG differ

Overlap by weight

3.1%

Shared holdings make up 57.6% of BUL and 3.1% of SPYG.

Level by level

Holdings16 in both3.1%
Sector11 Sectors45.7%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in BUL and SPYG, widest gap first
Sector	More in BULMore in SPYG	BUL	SPYG
Technology	SPYG +30.6 points	22.3%	52.9%
Consumer Discretionary	BUL +20.0 points	28.3%	8.3%
Health Care	BUL +17.5 points	24.4%	6.8%
Communication	SPYG +13.5 points	1.3%	14.8%
Financials	SPYG +9.2 points	0.0%	9.2%
Materials	BUL +7.1 points	7.4%	0.3%
Energy	BUL +6.3 points	6.3%	0.0%
Consumer Staples	BUL +2.3 points	3.5%	1.2%
Industrials	BUL +1.1 points	6.7%	5.6%
Real Estate	SPYG +0.6 points	0.0%	0.6%
Utilities	SPYG +0.3 points	0.0%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in BUL and SPYG, widest gap first
Country	More in BULMore in SPYG	BUL	SPYG
United States	BUL +0.2 points	100.0%	99.8%
China	SPYG +0.1 points	0.0%	0.1%
Mexico	SPYG +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

BUL44.3%
SPYG58.9%

Securities held

BUL50
SPYG152

Asset class

BUL: Equity
SPYG: Equity

Holdings

Only in BUL34
In both16
Only in SPYG136

Only in BUL

34 securities, 42.4% of BUL by weight

TechnipFMC PLC3.10%
United Therapeutics Corp2.73%
Tenet Healthcare Corp2.45%
Dynatrace Inc2.12%
Medpace Holdings Inc2.09%
Exelixis Inc1.81%
Coeur Mining Inc.1.76%
Neurocrine Biosciences Inc1.63%
Halozyme Therapeutics Inc1.60%
Coca-Cola Consolidated Inc1.58%
Jazz Pharmaceuticals PLC1.56%
CACI International Inc1.55%
Five Below Inc1.40%
New York Times Co/The1.26%
Globus Medical Inc1.20%
Antero Midstream Corp1.11%
Sanmina Corp1.04%
Paylocity Holding Corp1.02%
Tetra Tech Inc1.02%
InterDigital Inc0.98%
NewMarket Corp0.92%
Dropbox Inc0.90%
Brinker International Inc0.88%
Celsius Holdings Inc0.81%
EnerSys0.72%
ExlService Holdings Inc0.70%
Doximity Inc0.68%
Pegasystems Inc0.65%
Churchill Downs Inc0.65%
Ollie's Bargain Outlet Holdings Inc0.62%
Option Care Health Inc0.53%
Grand Canyon Education Inc0.47%
Travel + Leisure Co0.47%
Planet Fitness Inc0.44%

Only in SPYG

136 securities, 96.8% of SPYG by weight

NVIDIA Corp14.44%
Microsoft Corp10.99%
Apple Inc7.11%
Alphabet Inc Class A4.65%
Broadcom Inc4.58%
Meta Platforms Inc Class A3.85%
Alphabet Inc Class C3.75%
Amazon.com Inc3.54%
Eli Lilly & Co3.07%
Micron Technology Inc2.95%
Berkshire Hathaway Inc Class B2.82%
Advanced Micro Devices2.58%
Tesla Inc1.97%
JPMorgan Chase & Co1.73%
Palantir Technologies Inc A1.26%
Johnson & Johnson1.09%
Visa Inc Class A Shares1.07%
Mastercard Inc A0.96%
Applied Materials Inc0.93%
Lam Research Corp0.89%
Caterpillar Inc0.83%
Rtx Corp0.75%
Crowdstrike Holdings Inc A0.74%
Netflix Inc0.72%
AbbVie Inc0.66%
Cisco Systems Inc0.63%
Kla Corp0.61%
Amphenol Corp Class A0.57%
Arista Networks Inc0.54%
Philip Morris International0.51%
Goldman Sachs Group Inc0.49%
Palo Alto Networks Inc0.48%
Amgen Inc0.47%
General Electric0.47%
Welltower Inc0.47%
Intuitive Surgical Inc0.44%
Coca Cola Co/The0.42%
Morgan Stanley0.38%
Intl Business Machines Corp0.35%
Oracle Corp0.35%
American Express Co0.32%
Gilead Sciences Inc0.31%
Seagate Technology Holdings0.28%
Quanta Services Inc0.27%
Vertiv Holdings Co A0.26%
Marvell Technology Inc0.25%
Datadog Inc Class A0.25%
Tjx Companies Inc0.24%
Marriott International Class A0.24%
Howmet Aerospace Inc0.23%

Weight gaps

All 16 Holdings in both funds, largest gap first.

Holding weights in BUL and SPYG, widest gap first
Holding	More in BULMore in SPYG	BUL	SPYG
HCA Healthcare IncHCA	BUL +5.28 points	5.48%	0.20%
Uber Technologies IncUBER	BUL +4.44 points	4.81%	0.37%
Newmont CorpNEM	BUL +4.38 points	4.71%	0.33%
Booking Holdings IncBKNG	BUL +4.32 points	4.64%	0.32%
GE Vernova IncGEV	BUL +4.26 points	4.92%	0.66%
Carnival Corp LtdCCL	BUL +4.12 points	4.22%	0.10%
AppLovin CorpAPP	BUL +4.01 points	4.20%	0.19%
Expedia Group IncEXPE	BUL +3.78 points	3.87%	0.09%
Sandisk CorpSNDK	BUL +3.75 points	4.29%	0.54%
Ulta Beauty IncULTA	BUL +2.85 points	2.93%	0.08%
Las Vegas Sands CorpLVS	BUL +2.71 points	2.74%	0.03%
Incyte CorpINCY	BUL +2.54 points	2.60%	0.06%
Tapestry IncTPR	BUL +2.52 points	2.59%	0.07%
Ralph Lauren CorpRL	BUL +2.51 points	2.55%	0.04%
First Solar IncFSLR	BUL +2.07 points	2.12%	0.05%
Wynn Resorts LtdWYNN	BUL +0.86 points	0.88%	0.02%

All 52 BUL holdings⁠All 152 SPYG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BUL vs SPYG Cost

Overpaying BUL vs SPYG

$10,968

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BUL 0.60%
$11,817
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

BUL 0.60%
SPYG 0.04%
Overpaying

Year by year

Year	BUL	SPYG	Overpaying
10	$1,076	$73	$1,003
20	$4,116	$288	$3,828
30	$11,817	$849	$10,968

Expense ratio

0.60%BUL
0.04%SPYG, cheaper

SPYG0.04%BUL0.60%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

BUL 32nd cheapest of 35 funds

BUL vs SPYG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BUL 0.16%; SPYG 0.50%, better
Payout (12M): BUL $0.10; SPYG $0.59
Last payment: BUL $0.0061; SPYG $0.15
Ex-dividend: BUL Jun 4, 2026; SPYG Sep 21, 2026
Paid on: BUL Jun 8, 2026; SPYG Sep 23, 2026
Frequency: BUL Twice a year; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

BULTwice a year · 26 paymentsAll BUL payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

BUL vs SPYG Risk

Fall from peak · 5 years

BUL
SPYG

Risk facts

VolatilityStd dev, 3 years: BUL 14.0%, betterSPYG 16.5%
Return per unit of riskSharpe ratio, 3 years: BUL 1.13SPYG 1.28, better
Worst fallMax drawdown, 5 years: BUL −27.9%, betterSPYG −32.7%
Market sensitivityBeta, 5 years: BUL 0.82SPYG 1.17; Market = 1

BUL and SPYG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026SPYG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SPYG

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BUL vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How BUL and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BUL

Only in SPYG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best growth ETF is the cheap one on the index you want

The cheap large-cap growth pick is the S&P 500 list

How BUL and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in BUL

Only in SPYG

Weight gaps