ILCG vs SPYG: Grades, Fees and Holdings Compared

iShares Morningstar Growth ETF

ILCGANYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

70.0%by weight

Expense ratio

ILCG0.04%SPYG0.04%

Avg volume · 30D

SPYG 35.4×the volume

ILCG69.6KSPYG2.47M

10Y return · a year

SPYG +0.4pt

ILCG+16.9%SPYG+17.3%

ILCG vs SPYG Performance

Nov 9, 2021 – Nov 9, 2026

+53.4%ILCG+68.4%SPYG

Expense ratio: ILCG 0.04%; SPYG 0.04%
Fund size: ILCG $2.86B; SPYG $51.7B
1Y total return: ILCG +4.3%; SPYG +10.0%, better
Yield (12M): ILCG 0.44%; SPYG 0.51%, better
Holdings: ILCG 328; SPYG 155
Avg volume (30D): ILCG 69.6K sh; SPYG 2.47M sh, better
NAV per share: ILCG $104.77; SPYG $112.22
52W range

ETF.net Grade

Pillar letters and Scores for ILCG, SPYG, with each pillar’s weight
Pillar	ILCG	SPYG
Cost30% weight	A96	A96
Mission25% weight	A100Higher	A98
Risk15% weight	C42	B61Higher
Tradability15% weight	B63	A95Higher
Holdings10% weight	C52Higher	D36
Durability5% weight	B66	A79Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. ILCG 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 ILCG 4th of 35 funds in the US Growth Index Category.

Rank 1ASPYGState Street SPDR Portfolio S&P 500 Growth ETFScore 84
Rank 2AIMCGiShares Morningstar Mid-Cap Growth ETFScore 78
Rank 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 4AILCGiShares Morningstar Growth ETFScore 77
Rank 4AVUGVanguard Morningstar Growth ETFScore 77

Our read on each fund

ETF.net Research

ILCGAiShares Morningstar Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

ILCG Growth by Morningstar's rulebook. A 2004-vintage iShares fund that screens large and mid caps for above-average earnings, sales, cash-flow and book-value growth, and charges four basis points to do it.

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

ILCG The fund aims to follow an index of U.S. large- and mid-cap stocks chosen for above-average earnings, sales, cash-flow, and book-value growth.

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

ILCG 0.04% a year. The typical fund in its factor peer group charges roughly eight times that, so almost none of the return leaks out the fee door.
Uses Morningstar's growth definition (earnings, sales, cash flow, book value) rather than S&P's or Russell's, and reaches into mid caps, not just the S&P 500.ishares.com
Trading since 2004, a multi-billion-dollar fund holding roughly 300 stocks. Long-running plumbing, not a launch-week experiment.
Tracking has been tight, and the fund sits in the upper half of its factor cohort overall, with cost doing much of the heavy lifting.

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

ILCG Pure growth means no value ballast, and the ride has been bumpier than most funds in its factor group. The style can sit out of favor for long stretches.
Concentration runs high for the cohort: cap-weighted growth screens funnel a big share of the fund into the same handful of mega-cap names.
Moderately traded, not a tape leader. Sibling IUSG applies S&P's growth definition at the same 0.04%, so the pick is which index rulebook you prefer.

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 ILCG profile⁠

Full SPYG profile⁠

ILCG vs SPYG Holdings

How ILCG and SPYG differ

Overlap by weight

70.0%

Shared holdings make up 86.4% of SPYG and 80.3% of ILCG.

Level by level

Holdings120 in both70.0%
Sector11 Sectors90.1%
Asset classStocks100%
Countryby domicile99.7%

Sector

Sector weights in ILCG and SPYG, widest gap first
Sector	Gap	ILCG	SPYG
Communication	SPYG +5.1 points	9.3%	14.4%
Industrials	ILCG +4.2 points	9.8%	5.6%
Financials	SPYG +4.1 points	6.0%	10.1%
Consumer Discretionary	ILCG +1.5 points	10.5%	9.0%
Materials	ILCG +1.1 points	1.5%	0.4%
Real Estate	ILCG +1.0 points	1.7%	0.7%
Consumer Staples	ILCG +0.7 points	2.0%	1.3%
Energy	ILCG +0.7 points	0.7%	0.0%
Health Care	SPYG +0.7 points	6.9%	7.6%
Utilities	ILCG +0.6 points	0.9%	0.3%
Technology	ILCG +0.1 points	50.7%	50.6%

Country, concentration and asset class

Country by domicile

Country weights in ILCG and SPYG, widest gap first
Country	Gap	ILCG	SPYG
United States	SPYG +0.3 points	99.5%	99.8%
China	Same weight	0.1%	0.1%
Brazil	ILCG +0.1 points	0.1%	0.0%
Switzerland	ILCG +0.1 points	0.1%	0.0%
Mexico	Same weight	0.1%	0.1%
United Kingdom	ILCG +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCG50.0%
SPYG60.1%

Securities held

ILCG325
SPYG153

Asset class

ILCG: Stocks
SPYG: Stocks

Holdings

Only in ILCG205
In both120
Only in SPYG33

Only in ILCG

205 securities, 19.6% of ILCG by weight

Intel Corporation0.89%
Walmart0.74%
Costco Wholesale Corp0.69%
Texas Instrument0.39%
Analog Devices0.32%
Western Digital Corp0.32%
Snowflake0.32%
Cloudflare Class A0.29%
Freeport Mcmoran Inc0.29%
Motorola Solutions Inc0.29%
Deere0.27%
Cintas0.26%
Ecolab0.26%
Aon PLC Class A0.24%
Dell Technologies Inc Class C0.22%
Ww Grainger Inc0.22%
Cencora0.22%
Starbucks Corp0.21%
Csx0.21%
Fastenal0.20%
Equinix Reit0.19%
Emerson Electric0.19%
Ametek Inc0.18%
Synopsys0.18%
Eaton PLC0.18%
Charles Schwab0.17%
Marathon Petroleum0.17%
Sherwin Williams0.17%
Westinghouse Air Brake Technologie0.16%
Baker Hughes Class A0.16%
Nasdaq Inc0.16%
Keysight Technologies0.16%
Block Class A0.15%
Arthur J Gallagher0.15%
Chipotle Mexican Grill0.15%
Natera0.14%
Illinois Tool Inc0.14%
Nxp Semiconductors NV0.14%
Vertex Pharmaceuticals0.14%
Digital Realty Trust Reit0.14%
Marsh0.13%
Vulcan Materials0.12%
Cardinal Health0.12%
Nucor0.12%
Williams0.11%
Mckesson Corp0.11%
Norfolk Southern Corp0.11%
Allstate Corp0.11%
Roblox Class A0.11%
Microchip Technology Inc0.11%

Only in SPYG

33 securities, 13.6% of SPYG by weight

Berkshire Hathaway Inc Class B3.16%
JPMorgan Chase & Co1.80%
Johnson & Johnson1.17%
Rtx Corp0.76%
AbbVie Inc0.70%
Cisco Systems Inc0.58%
Philip Morris International0.51%
Amgen Inc0.50%
Goldman Sachs Group Inc0.49%
Coca Cola Co/The0.46%
Morgan Stanley0.39%
Newmont Corp0.38%
Booking Holdings Inc0.36%
Intl Business Machines Corp0.36%
Gilead Sciences Inc0.33%
McDonald’s Corp0.26%
Progressive Corp0.22%
Hca Healthcare Inc0.22%
Cme Group Inc0.18%
Intuit Inc0.16%
General Dynamics Corp0.14%
Boston Scientific Corp0.12%
Okta Inc0.08%
Cboe Global Markets Inc0.06%
Workday Inc Class A0.05%
Ralph Lauren Corp0.04%
Insulet Corp0.03%
Wr Berkley Corp0.03%
Fox Corp Class A0.03%
Allegion PLC0.03%
Wynn Resorts Ltd0.02%
Fox Corp Class B0.02%
Norwegian Cruise Line Holdin0.01%

Weight gaps

The 100 widest of 120 Holdings in both funds.

Holding weights in ILCG and SPYG, widest gap first
Holding	Gap	ILCG	SPYG
MicrosoftMSFT	SPYG +8.42 points	3.29%	11.71%
Meta Platforms Class AMETA	SPYG +2.34 points	1.66%	4.00%
Alphabet Class AGOOGL	SPYG +1.75 points	3.22%	4.97%
Alphabet Class CGOOG	SPYG +1.40 points	2.61%	4.01%
NVIDIANVDA	ILCG +1.33 points	14.75%	13.42%
AppleAAPL	ILCG +1.05 points	8.47%	7.42%
Micron TechnologyMU	SPYG +0.87 points	1.45%	2.32%
Amazon.com IncAMZN	ILCG +0.76 points	4.77%	4.01%
Ge AerospaceGE	ILCG +0.62 points	1.14%	0.52%
Broadcom IncAVGO	ILCG +0.50 points	4.65%	4.15%
Eli LillyLLY	ILCG +0.45 points	3.67%	3.22%
Palo Alto NetworksPANW	ILCG +0.44 points	0.87%	0.43%
Advanced Micro DevicesAMD	ILCG +0.30 points	2.48%	2.18%
Uber TechnologiesUBER	SPYG +0.30 points	0.12%	0.42%
Caterpillar IncCAT	SPYG +0.28 points	0.48%	0.76%
BoeingBA	ILCG +0.28 points	0.46%	0.18%
Tesla IncTSLA	ILCG +0.26 points	2.12%	1.86%
Marvell TechnologyMRVL	ILCG +0.25 points	0.42%	0.17%
American ExpressAXP	SPYG +0.18 points	0.16%	0.34%
SandiskSNDK	SPYG +0.17 points	0.19%	0.36%
ServicenowNOW	ILCG +0.17 points	0.36%	0.19%
Seagate Technology Holdings PLCSTX	ILCG +0.15 points	0.35%	0.20%
Moodys CorpMCO	ILCG +0.15 points	0.26%	0.11%
Airbnb Class AABNB	ILCG +0.15 points	0.26%	0.11%
Marriott International Class AMAR	SPYG +0.14 points	0.12%	0.26%
Cadence Design SystemsCDNS	ILCG +0.14 points	0.30%	0.16%
Johnson Controls International PLCJCI	ILCG +0.12 points	0.28%	0.16%
FortinetFTNT	ILCG +0.11 points	0.25%	0.14%
CorningGLW	ILCG +0.12 points	0.29%	0.17%
Edwards LifesciencesEW	ILCG +0.11 points	0.19%	0.08%
NetflixNFLX	ILCG +0.12 points	0.90%	0.78%
Palantir Technologies Class APLTR	ILCG +0.11 points	1.21%	1.10%
Applied Material IncAMAT	ILCG +0.11 points	0.90%	0.79%
Lam ResearchLRCX	ILCG +0.10 points	0.85%	0.75%
Carvana Class ACVNA	ILCG +0.10 points	0.18%	0.08%
AutodeskADSK	ILCG +0.09 points	0.19%	0.10%
Ge VernovaGEV	ILCG +0.09 points	0.70%	0.61%
Cummins IncCMI	ILCG +0.09 points	0.21%	0.12%
Ventas ReitVTR	ILCG +0.08 points	0.15%	0.07%
MsciMSCI	ILCG +0.08 points	0.15%	0.07%
KlaKLAC	ILCG +0.07 points	0.61%	0.54%
AutozoneAZO	ILCG +0.08 points	0.18%	0.10%
WelltowerWELL	ILCG +0.07 points	0.60%	0.53%
Rockwell Automation IncROK	ILCG +0.07 points	0.14%	0.07%
Ross Stores IncROST	ILCG +0.07 points	0.18%	0.11%
Crowdstrike Holdings Class ACRWD	ILCG +0.07 points	0.73%	0.66%
Amphenol Corp Class AAPH	ILCG +0.07 points	0.62%	0.55%
Veeva Systems Class AVEEV	ILCG +0.07 points	0.15%	0.08%
Take Two Interactive SoftwareTTWO	ILCG +0.07 points	0.13%	0.06%
Arista NetworksANET	ILCG +0.07 points	0.60%	0.53%
Intuitive SurgicalISRG	ILCG +0.06 points	0.54%	0.48%
Carnival Corp LtdCCL	SPYG +0.06 points	0.05%	0.11%
TeradyneTER	ILCG +0.06 points	0.12%	0.06%
Dexcom IncDXCM	ILCG +0.05 points	0.10%	0.05%
TjxTJX	SPYG +0.05 points	0.19%	0.24%
Applovin Class AAPP	ILCG +0.05 points	0.36%	0.31%
United RentalsURI	ILCG +0.04 points	0.15%	0.11%
Live Nation EntertainmentLYV	ILCG +0.05 points	0.09%	0.04%
Parker-HannifinPH	SPYG +0.04 points	0.15%	0.19%
Visa Class AV	ILCG +0.04 points	1.22%	1.18%
Mastercard Class AMA	SPYG +0.04 points	1.01%	1.05%
JabilJBL	ILCG +0.03 points	0.08%	0.05%
EbayEBAY	SPYG +0.04 points	0.07%	0.11%
Royal Caribbean GroupRCL	ILCG +0.04 points	0.28%	0.24%
S&P GlobalSPGI	SPYG +0.03 points	0.15%	0.18%
Expedia GroupEXPE	SPYG +0.04 points	0.05%	0.09%
Incyte CorpINCY	SPYG +0.03 points	0.03%	0.06%
Howmet AerospaceHWM	ILCG +0.04 points	0.28%	0.24%
Axon EnterpriseAXON	ILCG +0.03 points	0.08%	0.05%
Quanta Services IncPWR	ILCG +0.03 points	0.27%	0.24%
Oreilly Automotive IncORLY	ILCG +0.03 points	0.25%	0.22%
Ferguson EnterprisesFERG	ILCG +0.03 points	0.09%	0.06%
Simon Property Group Reit IncSPG	ILCG +0.03 points	0.12%	0.09%
Yum BrandsYUM	ILCG +0.03 points	0.09%	0.06%
Doordash Class ADASH	ILCG +0.03 points	0.23%	0.20%
OracleORCL	SPYG +0.03 points	0.32%	0.35%
Hilton Worldwide HoldingsHLT	ILCG +0.03 points	0.28%	0.25%
Fair IsaacFICO	ILCG +0.03 points	0.05%	0.02%
Transdigm GroupTDG	ILCG +0.02 points	0.22%	0.20%
Ulta Beauty IncULTA	SPYG +0.02 points	0.06%	0.08%
First SolarFSLR	SPYG +0.02 points	0.04%	0.06%
Vertiv Holdings Class AVRT	ILCG +0.02 points	0.23%	0.21%
VistraVST	ILCG +0.02 points	0.14%	0.12%
Robinhood Markets Class AHOOD	ILCG +0.02 points	0.21%	0.19%
Apollo Global ManagementAPO	ILCG +0.02 points	0.11%	0.09%
Datadog Inc Class ADDOG	ILCG +0.02 points	0.20%	0.18%
StrykerSYK	SPYG +0.02 points	0.12%	0.14%
Bank of New York Mellon CorpBNY	ILCG +0.02 points	0.21%	0.19%
Reddit Class ARDDT	ILCG +0.02 points	0.05%	0.03%
Lumentum HoldingsLITE	ILCG +0.02 points	0.16%	0.14%
Illumina IncILMN	ILCG +0.02 points	0.07%	0.05%
TapestryTPR	SPYG +0.02 points	0.06%	0.08%
Monster BeverageMNST	ILCG +0.02 points	0.21%	0.19%
Trane Technologies PLCTT	ILCG +0.02 points	0.16%	0.14%
Bloom Energy Class ABE	ILCG +0.02 points	0.17%	0.15%
Mettler ToledoMTD	ILCG +0.01 points	0.06%	0.05%
Monolithic Power Systems IncMPWR	ILCG +0.02 points	0.19%	0.17%
Idexx LaboratoriesIDXX	ILCG +0.01 points	0.17%	0.16%
CienaCIEN	ILCG +0.02 points	0.12%	0.10%
Nrg Energy IncNRG	SPYG +0.01 points	0.03%	0.04%

All 325 ILCG holdings⁠All 153 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.

ILCG vs SPYG Cost

Same expense ratio

$849

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

ILCG 0.04%
$849
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

ILCG 0.04%
SPYG 0.04%

Year by year

Year	ILCG	SPYG
10	$73	$73
20	$288	$288
30	$849	$849

Expense ratio

0.04%ILCG
0.04%SPYG

ILCG0.04%SPYG0.04%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

ILCG 2nd cheapest of 35 funds

SPYG 2nd cheapest of 35 funds

ILCG vs SPYG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): ILCG 0.44%; SPYG 0.51%, better
Payout (12M): ILCG $0.48; SPYG $0.59
Last payment: ILCG $0.14; SPYG $0.15
Ex-dividend: ILCG Sep 15, 2026; SPYG Sep 21, 2026
Paid on: ILCG Sep 18, 2026; SPYG Sep 23, 2026
Frequency: ILCG Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCGQuarterly · 40 paymentsAll ILCG payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

ILCG vs SPYG Risk

Fall from peak · 5 years

ILCG
SPYG

Risk facts

VolatilityStd dev, 3 years: ILCG 17.8%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: ILCG 1.06SPYG 1.28, better
Worst fallMax drawdown, 5 years: ILCG −35.4%SPYG −32.7%, better
Market sensitivityBeta, 5 years: ILCG 1.23SPYG 1.18; Market = 1

ILCG 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, 2026ILCGSPYG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SPYG

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ILCG vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How ILCG and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

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 ILCG and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

Only in SPYG

Weight gaps