MGK vs SPYG: Grades, Fees and Holdings Compared

Vanguard Morningstar Mega Cap Growth ETF

MGKBNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

72.3%by weight

Expense ratio

SPYG −0.01pt a year

MGK0.05%SPYG0.04%

Avg volume · 30D

SPYG 1.7×the volume

MGK1.32MSPYG2.28M

10Y return · a year

MGK +1.0pt

MGK+18.5%SPYG+17.5%

MGK vs SPYG Performance

Oct 29, 2021 – Oct 30, 2026

+75.1%MGK+73.4%SPYG

Expense ratio: MGK 0.05%; SPYG 0.04%, better
Fund size: MGK $35B; SPYG $55.5B
1Y total return: MGK +3.6%; SPYG +8.3%, better
Yield (12M): MGK 0.35%; SPYG 0.50%, better
Holdings: MGK 55; SPYG 154
Avg volume (30D): MGK 1.32M sh; SPYG 2.28M sh, better
NAV per share: MGK $86.83; SPYG $119.59
52W range

ETF.net Grade

Pillar letters and Scores for MGK, SPYG, with each pillar’s weight
Pillar	MGK	SPYG
Cost30% weight	A78	A96Higher
Mission25% weight	A99Higher	A98
Risk15% weight	C40	B62Higher
Tradability15% weight	B56	A95Higher
Holdings10% weight	D25	D38Higher
Durability5% weight	A79	A79

Rank among US Growth Index funds

How we build Categories ›

Same Category. MGK 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 MGK 10th 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 10BISCGiShares Morningstar Small-Cap Growth ETFScore 68
Rank 10BMGKVanguard Morningstar Mega Cap Growth ETFScore 68
Rank 12BIVWiShares S&P 500 Growth ETFScore 67

Our read on each fund

ETF.net Research

MGKBVanguard Morningstar Mega Cap Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

MGK The growth half of America's giants, roughly 70 names, for five basis points. Vanguard has run it since 2007, and it charges a quarter of what the typical mega-cap fund does.

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

MGK Seeks to track a benchmark measuring the return of large-capitalization growth stocks in the United States. The fund uses passive indexing to track the CRSP US Mega Cap Growth 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

MGK 0.05% a year against a 0.20% median in its mega-cap peer group. Only Vanguard's own MGC matches that price.
Tracks the CRSP US Mega Cap Growth Index about as tightly as index funds get, one of the strongest implementations in its cohort.
The index takes the growth side of the top 70% of US market cap and moves names between size bands gradually, which keeps turnover down.crsp.org crsp.org 2
Listed in December 2007 and now a multi-billion-dollar fund that trades actively, which usually shows up as tight spreads.

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

MGK About 70 stocks, weighted by float-adjusted market cap. The handful at the top set the tone for the whole fund.crsp.org
Growth only. Value-leaning mega caps sit outside the index; sibling MGC holds the full mega-cap slice at the same 0.05%.
Distributions land quarterly, but a mega-cap growth mandate means income is a byproduct, not the job.

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 MGK profile⁠

Full SPYG profile⁠

MGK vs SPYG Holdings

How MGK and SPYG differ

Overlap by weight

72.3%

Shared holdings make up 94.0% of MGK and 74.8% of SPYG.

Level by level

Holdings43 in both72.3%
Sector10 Sectors88.1%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in MGK and SPYG, widest gap first
Sector	More in MGKMore in SPYG	MGK	SPYG
Technology	MGK +9.6 points	62.5%	52.9%
Financials	SPYG +5.1 points	4.1%	9.2%
Industrials	SPYG +3.2 points	2.4%	5.6%
Health Care	SPYG +2.5 points	4.4%	6.8%
Consumer Discretionary	MGK +1.3 points	9.6%	8.3%
Consumer Staples	SPYG +0.8 points	0.4%	1.2%
Real Estate	MGK +0.6 points	1.2%	0.6%
Utilities	SPYG +0.3 points	0.0%	0.3%
Communication	MGK +0.2 points	15.0%	14.8%
Materials	MGK +0.1 points	0.4%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in MGK and SPYG, widest gap first
Country	More in MGKMore in SPYG	MGK	SPYG
United States	MGK +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

MGK64.6%
SPYG58.9%

Securities held

MGK53
SPYG152

Asset class

MGK: Equity
SPYG: Equity

Holdings

Only in MGK10
In both43
Only in SPYG109

Only in MGK

10 securities, 5.8% of MGK by weight

Intel Corp1.87%
Western Digital Corp0.68%
Vertex Pharmaceuticals Inc0.61%
Equinix Inc0.52%
Synopsys Inc0.50%
Space Exploration Technologies Corp0.50%
Ecolab Inc0.43%
Snowflake Inc0.40%
Cintas Corp0.32%
SLBBH11420.00%

Only in SPYG

109 securities, 25.1% of SPYG by weight

Micron Technology Inc2.95%
Berkshire Hathaway Inc Class B2.82%
JPMorgan Chase & Co1.73%
Johnson & Johnson1.09%
Caterpillar Inc0.83%
Rtx Corp0.75%
AbbVie Inc0.66%
Cisco Systems Inc0.63%
Philip Morris International0.51%
Goldman Sachs Group Inc0.49%
Amgen Inc0.47%
General Electric0.47%
Coca Cola Co/The0.42%
Morgan Stanley0.38%
Uber Technologies Inc0.37%
Intl Business Machines Corp0.35%
Newmont Corp0.33%
American Express Co0.32%
Gilead Sciences Inc0.31%
Quanta Services Inc0.27%
Vertiv Holdings Co A0.26%
Datadog Inc Class A0.25%
Howmet Aerospace Inc0.23%
Lumentum Holdings Inc0.23%
Hilton Worldwide Holdings In0.22%
McDonald’s Corp0.22%
Royal Caribbean Cruises Ltd0.22%
Progressive Corp0.21%
Robinhood Markets Inc A0.20%
Hca Healthcare Inc0.20%
Doordash Inc A0.19%
Parker Hannifin Corp0.18%
Bloom Energy Corp A0.18%
Transdigm Group Inc0.18%
Bank of New York Mellon Corp0.18%
Johnson Controls Internation0.18%
S+p Global Inc0.17%
Cme Group Inc0.17%
Monolithic Power Systems Inc0.16%
Constellation Energy0.16%
Intuit Inc0.14%
Trane Technologies PLC0.14%
General Dynamics Corp0.14%
Ciena Corp0.14%
Cummins Inc0.13%
Comfort Systems Usa Inc0.13%
Coherent Corp0.13%
Stryker Corp0.13%
Everpure Inc A0.13%
Idexx Laboratories Inc0.13%

Weight gaps

All 43 Holdings in both funds, largest gap first.

Holding weights in MGK and SPYG, widest gap first
Holding	More in MGKMore in SPYG	MGK	SPYG
Apple IncAAPL	MGK +5.44 points	12.55%	7.11%
Microsoft CorpMSFT	SPYG +1.51 points	9.48%	10.99%
Tesla IncTSLA	MGK +1.18 points	3.15%	1.97%
Meta Platforms IncMETA	MGK +1.12 points	4.97%	3.85%
Visa IncV	MGK +0.79 points	1.86%	1.07%
Palo Alto Networks IncPANW	MGK +0.74 points	1.23%	0.48%
NVIDIA CorpNVDA	SPYG +0.72 points	13.72%	14.44%
Marvell Technology IncMRVL	MGK +0.70 points	0.95%	0.25%
Amazon.com IncAMZN	MGK +0.69 points	4.23%	3.54%
Advanced Micro Devices IncAMD	MGK +0.65 points	3.23%	2.58%
Seagate Technology Holdings PLCSTX	MGK +0.58 points	0.86%	0.28%
Lam Research CorpLRCX	MGK +0.56 points	1.45%	0.89%
Oracle CorpORCL	MGK +0.55 points	0.90%	0.35%
Mastercard IncMA	MGK +0.53 points	1.49%	0.96%
Applied Materials IncAMAT	MGK +0.52 points	1.45%	0.93%
Boeing Co/TheBA	MGK +0.46 points	0.63%	0.17%
Sandisk CorpSNDK	MGK +0.44 points	0.98%	0.54%
ServiceNow IncNOW	MGK +0.43 points	0.62%	0.19%
Corning IncGLW	MGK +0.38 points	0.58%	0.20%
KLA CorpKLAC	MGK +0.38 points	0.99%	0.61%
Cadence Design Systems IncCDNS	MGK +0.36 points	0.53%	0.17%
Arista Networks IncANET	MGK +0.34 points	0.88%	0.54%
Alphabet IncGOOGL	MGK +0.34 points	4.99%	4.65%
Netflix IncNFLX	MGK +0.34 points	1.06%	0.72%
GE Vernova IncGEV	MGK +0.32 points	0.98%	0.66%
Moody's CorpMCO	MGK +0.31 points	0.41%	0.10%
Airbnb IncABNB	MGK +0.31 points	0.40%	0.09%
Crowdstrike Holdings IncCRWD	MGK +0.30 points	1.04%	0.74%
Amphenol CorpAPH	MGK +0.27 points	0.84%	0.57%
Broadcom IncAVGO	SPYG +0.27 points	4.31%	4.58%
Fortinet IncFTNT	MGK +0.28 points	0.43%	0.15%
AppLovin CorpAPP	MGK +0.26 points	0.45%	0.19%
Welltower IncWELL	MGK +0.24 points	0.71%	0.47%
Booking Holdings IncBKNG	MGK +0.23 points	0.55%	0.32%
Intuitive Surgical IncISRG	MGK +0.24 points	0.68%	0.44%
O'Reilly Automotive IncORLY	MGK +0.23 points	0.43%	0.20%
Interactive Brokers Group IncIBKR	MGK +0.22 points	0.32%	0.10%
Alphabet IncGOOG	MGK +0.21 points	3.96%	3.75%
TJX Cos Inc/TheTJX	MGK +0.20 points	0.44%	0.24%
Monster Beverage CorpMNST	MGK +0.20 points	0.39%	0.19%
Palantir Technologies IncPLTR	MGK +0.19 points	1.45%	1.26%
Marriott International Inc/MDMAR	MGK +0.11 points	0.35%	0.24%
Eli Lilly & CoLLY	MGK +0.04 points	3.11%	3.07%

All 69 MGK 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.

MGK vs SPYG Cost

Overpaying MGK vs SPYG

$211

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

MGK 0.05%
$1,060
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

MGK 0.05%
SPYG 0.04%
Overpaying

Year by year

Year	MGK	SPYG	Overpaying
10	$92	$73	$19
20	$360	$288	$72
30	$1,060	$849	$211

Expense ratio

0.05%MGK
0.04%SPYG, cheaper

SPYG0.04%MGK0.05%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

MGK 5th cheapest of 35 funds

MGK vs SPYG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): MGK 0.35%; SPYG 0.50%, better
Payout (12M): MGK $0.30; SPYG $0.59
Last payment: MGK $0.08; SPYG $0.15
Ex-dividend: MGK Sep 28, 2026; SPYG Sep 21, 2026
Paid on: MGK Sep 30, 2026; SPYG Sep 23, 2026
Frequency: MGK Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MGKQuarterly · 39 paymentsAll MGK payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

MGK vs SPYG Risk

Fall from peak · 5 years

MGK
SPYG

Risk facts

VolatilityStd dev, 3 years: MGK 17.9%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: MGK 1.11SPYG 1.28, better
Worst fallMax drawdown, 5 years: MGK −36.0%SPYG −32.7%, better
Market sensitivityBeta, 5 years: MGK 1.27SPYG 1.17; Market = 1

MGK 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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MGK vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How MGK and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in MGK

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 MGK and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in MGK

Only in SPYG

Weight gaps