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IMCG vs SPYG

iShares Morningstar Mid-Cap Growth ETF

IMCGANYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

6.8%by weight

Expense ratio

SPYG −0.02pt a year

IMCG0.06%SPYG0.04%

Avg volume · 30D

SPYG 17.7×the volume

IMCG139KSPYG2.47M

10Y return · a year

SPYG +3.2pt

IMCG+14.1%SPYG+17.3%

IMCG vs SPYG Performance

Nov 9, 2021 – Nov 9, 2026

+28.0%IMCG+68.4%SPYG

Nov 9, 2021 to Nov 9, 2026. IMCG +28.0%. SPYG +68.4%. Use the arrow keys to read each point.−25%0%50%Nov 2021May 2024Nov 2026
Expense ratio
IMCG 0.06%
SPYG 0.04%, better
Fund size
IMCG $3.9B
SPYG $51.7B
1Y total return
IMCG +15.5%, better
SPYG +10.0%
Yield (12M)
IMCG 0.67%, better
SPYG 0.51%
Holdings
IMCG 262
SPYG 155
Avg volume (30D)
IMCG 139K sh
SPYG 2.47M sh, better
NAV per share
IMCG $90.22
SPYG $112.22
52W range

ETF.net Grade

IMCG: Cost 78, Risk 74, Mission 96, Tradability 62, Holdings 76, Durability 69. SPYG: Cost 96, Risk 61, Mission 98, Tradability 95, Holdings 36, Durability 79.
Pillar letters and Scores for IMCG, SPYG, with each pillar’s weight
PillarIMCGSPYG
Cost30% weightA78A96Higher
Mission25% weightA96A98Higher
Risk15% weightA74HigherB61
Tradability15% weightB62A95Higher
Holdings10% weightA76HigherD36
Durability5% weightB69A79Higher

Rank among US Growth Index funds

Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IMCG 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 IMCG 2nd of 35 funds in the US Growth Index Category.

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

Our read on each fund

ETF.net Research

IMCGAiShares Morningstar Mid-Cap Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

IMCG Growth investing usually means megacaps. IMCG works the middle of the market instead: roughly 300 mid-cap growth names, indexed since 2004, for six basis points a year.

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

IMCG The Fund seeks to track an index of U.S. mid-capitalization equities with growth characteristics. Its strategy uses representative sampling and generally invests at least 80% of assets in securities from the Underlying Index.

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

  • IMCG 0.06% a year, one third of the 0.18% median for its growth-fund peer group. Mid-cap indexing at large-cap-index prices.
  • The growth leaderboard is stacked with large-cap funds (VUG, SCHG, SPYG, VONG). IMCG covers the middle instead, holding about 300 mid-cap growth names.
  • Sticks close to the Morningstar mid-cap growth index it follows, one of the tighter tracking jobs in its peer group.
  • Running since 2004 under the iShares roof, with a multi-billion-dollar asset base behind it.
  • 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

  • IMCG Moderately traded rather than heavily traded, so bid-ask spreads can run wider than the megacap growth ETFs sitting beside it in the category.
  • This is a size-and-style bet. Mid-cap growth companies tend to move more sharply than the broad market, in both directions.
  • Distributions land quarterly, but a growth screen is not built around income.
  • 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 IMCG profile⁠

Full SPYG profile⁠

IMCG vs SPYG Holdings

How IMCG and SPYG differ

Overlap by weight

6.8%

Shared holdings make up 38.0% of IMCG and 6.8% of SPYG.

Level by level

  • Holdings70 in both6.8%
  • Sector11 Sectors59.3%
  • Countryby domicile98.5%
  • Asset classStocks100%

Sector

Sector weights in IMCG and SPYG, widest gap first
SectorMore in IMCGMore in SPYGGap
TechnologySPYG +28.4 points
IndustrialsIMCG +17.5 points
CommunicationSPYG +12.3 points
MaterialsIMCG +5.8 points
Consumer DiscretionaryIMCG +3.3 points
Real EstateIMCG +3.1 points
EnergyIMCG +3.1 points
UtilitiesIMCG +2.9 points
FinancialsIMCG +2.5 points
Health CareIMCG +1.6 points
Consumer StaplesIMCG +1.0 points

Country, concentration and asset class

Country by domicile

Country weights in IMCG and SPYG, widest gap first
CountryMore in IMCGMore in SPYGGap
United StatesSPYG +1.5 points
Other countries (4)IMCG +1.5 points

Concentration

Weight in the 10 largest Holdings

  • IMCG11.9%
  • SPYG60.1%

Securities held

  • IMCG259
  • SPYG153

Asset class

IMCG
Stocks
SPYG
Stocks

Holdings

  • Only in IMCG189
  • In both70
  • Only in SPYG83

Only in IMCG

189 securities, 61.8% of IMCG by weight

  • Snowflake1.34%
  • Cloudflare Class A1.24%
  • Freeport Mcmoran Inc1.23%

Only in SPYG

83 securities, 93.1% of SPYG by weight

  • NVIDIA Corp13.42%
  • Microsoft Corp11.71%
  • Apple Inc7.42%

Weight gaps

All 70 Holdings in both funds, largest gap first.

Holding weights in IMCG and SPYG, widest gap first
HoldingMore in IMCGMore in SPYGGap
Johnson Controls International PLCJCIIMCG +1.02 points
Airbnb Class AABNBIMCG +0.99 points
Moodys CorpMCOIMCG +0.98 points
Royal Caribbean GroupRCLIMCG +0.94 points
FortinetFTNTIMCG +0.92 points
Hilton Worldwide HoldingsHLTIMCG +0.92 points
Oreilly Automotive IncORLYIMCG +0.83 points
Doordash Class ADASHIMCG +0.78 points

All 259 IMCG 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.

IMCG vs SPYG Cost

Overpaying IMCG vs SPYG

$421

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

  • IMCG 0.06%

    $1,270

  • SPYG 0.04%

    $849

$10,000
30 years

Cost over time

  • IMCG 0.06%
  • SPYG 0.04%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K051015202530IMCG $1,270SPYG $849

Year by year

YearIMCGSPYGOverpaying
10$110$73$37
20$432$288$144
30$1,270$849$421

Expense ratio

  • 0.06%IMCG
  • 0.04%SPYG, cheaper
  • Middle half of US Growth Index funds
  • Median 0.18%

SPYG 2nd cheapest of 35 funds

IMCG 9th cheapest of 35 funds

IMCG vs SPYG Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
IMCG 0.67%, better
SPYG 0.51%
Payout (12M)
IMCG $0.62
SPYG $0.59
Last payment
IMCG $0.19
SPYG $0.15
Ex-dividend
IMCG Sep 15, 2026
SPYG Sep 21, 2026
Paid on
IMCG Sep 18, 2026
SPYG Sep 23, 2026
Frequency
IMCG Quarterly
SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCGQuarterly · 39 paymentsAll IMCG payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 24, 2017 $0.03; Jun 27, 2017 $0.03; Sep 26, 2017 $0.05; Dec 19, 2017 $0.04; Mar 22, 2018 $0.03; Jun 26, 2018 $0.03; Sep 26, 2018 $0.02; Dec 17, 2018 $0.03; Mar 20, 2019 $0.02; Jun 17, 2019 $0.02; Sep 24, 2019 $0.02; Dec 16, 2019 $0.07; Mar 25, 2020 $0.02; Jun 15, 2020 $0.02; Sep 23, 2020 $0.01; Dec 14, 2020 $0.0067; Mar 25, 2021 $0.0083; Jun 10, 2021 $0.08; Sep 24, 2021 $0.10; Dec 13, 2021 $0.11; Mar 24, 2022 $0.10; Jun 9, 2022 $0.08; Sep 26, 2022 $0.14; Dec 13, 2022 $0.18; Mar 23, 2023 $0.12; Jun 7, 2023 $0.09; Sep 26, 2023 $0.15; Dec 20, 2023 $0.18; Mar 21, 2024 $0.13; Jun 11, 2024 $0.11; Sep 25, 2024 $0.18; Dec 17, 2024 $0.17; Mar 18, 2025 $0.12; Jun 16, 2025 $0.14; Sep 16, 2025 $0.16; Dec 16, 2025 $0.21; Mar 17, 2026 $0.12; Jun 15, 2026 $0.10; Sep 15, 2026 $0.19. Use the arrow keys to read each point.$0$0.202017202020232026YTD
SPYGQuarterly · 39 paymentsAll SPYG payments⁠
One bar per payment. 39 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.10; Jun 16, 2017 $0.11; Sep 15, 2017 $0.12; Dec 15, 2017 $0.14; Mar 19, 2018 $0.10; Jun 18, 2018 $0.12; Sep 24, 2018 $0.14; Dec 24, 2018 $0.14; Mar 18, 2019 $0.12; Jun 24, 2019 $0.15; Sep 23, 2019 $0.14; Dec 23, 2019 $0.16; Mar 23, 2020 $0.14; Jun 22, 2020 $0.12; Sep 21, 2020 $0.10; Dec 21, 2020 $0.13; Mar 22, 2021 $0.11; Jun 21, 2021 $0.11; Sep 20, 2021 $0.11; Dec 20, 2021 $0.12; Mar 21, 2022 $0.11; Jun 21, 2022 $0.13; Sep 19, 2022 $0.13; Dec 19, 2022 $0.14; Mar 20, 2023 $0.18; Jun 20, 2023 $0.19; Sep 18, 2023 $0.18; Dec 18, 2023 $0.20; Mar 18, 2024 $0.11; Jun 24, 2024 $0.12; Sep 23, 2024 $0.13; Dec 23, 2024 $0.17; Mar 24, 2025 $0.12; Jun 23, 2025 $0.14; Sep 22, 2025 $0.14; Dec 22, 2025 $0.16; Mar 23, 2026 $0.13; Jun 22, 2026 $0.15; Sep 21, 2026 $0.15. Use the arrow keys to read each point.$0$0.202017202020232026YTD

IMCG vs SPYG Risk

Fall from peak · 5 years

  • IMCG
  • SPYG
Nov 9, 2021 to Nov 9, 2026. Worst fall: IMCG −35.1% · Oct 2022. Use the arrow keys to read each point.−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
IMCG 16.6%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years
IMCG 0.97SPYG 1.28, better
Worst fallMax drawdown, 5 years
IMCG −35.1%SPYG −32.7%, better
Market sensitivityBeta, 5 years
IMCG 1.13SPYG 1.18

IMCG and SPYG in the news

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