RPG vs SPYG: Grades, Fees and Holdings Compared

Invesco S&P 500 Pure Growth ETF

RPGCNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

32.4%by weight

Expense ratio

SPYG −0.31pt a year

RPG0.35%SPYG0.04%

Avg volume · 30D

SPYG 4.8×the volume

RPG477KSPYG2.28M

10Y return · a year

SPYG +4.4pt

RPG+13.1%SPYG+17.5%

RPG vs SPYG Performance

Oct 29, 2021 – Oct 30, 2026

+28.9%RPG+73.4%SPYG

Expense ratio: RPG 0.35%; SPYG 0.04%, better
Fund size: RPG $1.74B; SPYG $55.5B
1Y total return: RPG +11.6%, better; SPYG +8.3%
Yield (12M): RPG 0.16%; SPYG 0.50%, better
Holdings: RPG 71; SPYG 154
Avg volume (30D): RPG 477K sh; SPYG 2.28M sh, better
NAV per share: RPG $53.04; SPYG $119.59
52W range

ETF.net Grade

Pillar letters and Scores for RPG, SPYG, with each pillar’s weight
Pillar	RPG	SPYG
Cost30% weight	D31	A96Higher
Mission25% weight	A83	A98Higher
Risk15% weight	D27	B62Higher
Tradability15% weight	A76	A95Higher
Holdings10% weight	B67Higher	D38
Durability5% weight	B56	A79Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. RPG 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 RPG 23rd 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 22BCOWGPacer US Large Cap Cash Cows Growth Leaders ETFScore 55
Rank 23CRPGInvesco S&P 500 Pure Growth ETFScore 54
Rank 24CEGUSiShares ESG Aware MSCI USA Growth ETFScore 53

Our read on each fund

ETF.net Research

RPGCInvesco S&P 500 Pure Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

RPG Growth, undiluted. RPG tracks the S&P 500 Pure Growth Index: roughly 70 names carved out of the 500, so the style comes through straight instead of spread thin across hundreds of stocks.

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

RPG The Fund seeks to track, before fees and expenses, the investment results of the S&P 500 Pure Growth Index. It generally invests at least 90% of total assets in securities comprising that 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

RPG Concentration with a point: about 70 holdings drawn from the S&P 500, so the growth tilt shows up in the portfolio instead of washing out.
The contract is plain: at least 90% of total assets in the index's members. No manager discretion, no drifting into whatever is hot this quarter.
Live since 2006, a multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part. Pays quarterly.

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

RPG 0.35% a year sits well above the growth-ETF norm. Broad index rivals like VUG (0.03%) and SCHG (0.04%) charge a sliver of that for the wider growth sleeve.
A 70-stock style sleeve moves in bigger steps than the full index, and it has been among the more volatile funds in its growth peer group.
In a crowded growth category, fee and volatility leave it behind the cheap index giants that anchor the group's top tier.

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 RPG profile⁠

Full SPYG profile⁠

RPG vs SPYG Holdings

How RPG and SPYG differ

Overlap by weight

32.4%

Shared holdings make up 100% of RPG and 70.2% of SPYG.

Level by level

Holdings69 in both32.4%
Sector10 Sectors82.4%
Countryby domicile99.4%
Asset classEquity100%

Sector

Sector weights in RPG and SPYG, widest gap first
Sector	More in RPGMore in SPYG	RPG	SPYG
Industrials	RPG +10.0 points	15.6%	5.6%
Communication	SPYG +8.1 points	6.7%	14.8%
Consumer Discretionary	RPG +5.4 points	13.7%	8.3%
Technology	SPYG +5.3 points	47.6%	52.9%
Financials	SPYG +3.8 points	5.4%	9.2%
Materials	RPG +1.1 points	1.4%	0.3%
Utilities	RPG +0.6 points	0.9%	0.3%
Real Estate	RPG +0.4 points	1.0%	0.6%
Health Care	SPYG +0.3 points	6.6%	6.8%
Consumer Staples	SPYG +0.2 points	1.0%	1.2%

Country, concentration and asset class

Country by domicile

Country weights in RPG and SPYG, widest gap first
Country	More in RPGMore in SPYG	RPG	SPYG
Mexico	RPG +0.6 points	0.7%	0.1%
Other countries (2)	SPYG +0.6 points	99.3%	99.9%

Concentration

Weight in the 10 largest Holdings

RPG29.5%
SPYG58.9%

Securities held

RPG70
SPYG152

Asset class

RPG: Equity
SPYG: Equity

Holdings

Only in RPG1
In both69
Only in SPYG83

Only in RPG

1 security, 0.0% of RPG by weight

Invesco Government & Agency Portfolio0.03%

Only in SPYG

83 securities, 29.8% of SPYG by weight

Apple Inc7.11%
Amazon.com Inc3.54%
Tesla Inc1.97%
JPMorgan Chase & Co1.73%
Johnson & Johnson1.09%
Visa Inc Class A Shares1.07%
Mastercard Inc A0.96%
AbbVie Inc0.66%
Cisco Systems Inc0.63%
Philip Morris International0.51%
Goldman Sachs Group Inc0.49%
Palo Alto Networks Inc0.48%
Amgen Inc0.47%
General Electric0.47%
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%
Marvell Technology Inc0.25%
Tjx Companies Inc0.24%
McDonald’s Corp0.22%
Progressive Corp0.21%
Corning Inc0.20%
Servicenow Inc0.19%
Parker Hannifin Corp0.18%
Bank of New York Mellon Corp0.18%
Johnson Controls Internation0.18%
S+p Global Inc0.17%
Boeing Co/The0.17%
Cme Group Inc0.17%
Cadence Design Sys Inc0.17%
Constellation Energy0.16%
Fortinet Inc0.15%
Intuit Inc0.14%
Trane Technologies PLC0.14%
General Dynamics Corp0.14%
Cummins Inc0.13%
Stryker Corp0.13%
Te Connectivity PLC0.12%
United Rentals Inc0.12%
Boston Scientific Corp0.12%
Ebay Inc0.10%
Ross Stores Inc0.10%
Kkr & Co Inc0.10%
Moody’s Corp0.10%
Autozone Inc0.09%
Airbnb Inc Class A0.09%

Weight gaps

All 69 Holdings in both funds, largest gap first.

Holding weights in RPG and SPYG, widest gap first
Holding	More in RPGMore in SPYG	RPG	SPYG
NVIDIA CorpNVDA	SPYG +12.79 points	1.65%	14.44%
Microsoft CorpMSFT	SPYG +10.20 points	0.79%	10.99%
Sandisk CorpSNDK	RPG +6.17 points	6.71%	0.54%
Alphabet IncGOOGL	SPYG +3.92 points	0.73%	4.65%
Broadcom IncAVGO	SPYG +3.23 points	1.35%	4.58%
Alphabet IncGOOG	SPYG +3.17 points	0.58%	3.75%
Meta Platforms IncMETA	SPYG +2.78 points	1.07%	3.85%
Crowdstrike Holdings IncCRWD	RPG +2.57 points	3.31%	0.74%
Comfort Systems USA IncFIX	RPG +2.35 points	2.48%	0.13%
Monolithic Power Systems IncMPWR	RPG +1.81 points	1.97%	0.16%
Interactive Brokers Group IncIBKR	RPG +1.74 points	1.84%	0.10%
Ciena CorpCIEN	RPG +1.69 points	1.83%	0.14%
Incyte CorpINCY	RPG +1.65 points	1.71%	0.06%
Everpure IncP	RPG +1.64 points	1.77%	0.13%
Amphenol CorpAPH	RPG +1.52 points	2.09%	0.57%
Datadog IncDDOG	RPG +1.47 points	1.72%	0.25%
EchoStar CorpECHO	RPG +1.45 points	1.49%	0.04%
Howmet Aerospace IncHWM	RPG +1.43 points	1.66%	0.23%
Vertiv Holdings CoVRT	RPG +1.43 points	1.69%	0.26%
Quanta Services IncPWR	RPG +1.41 points	1.68%	0.27%
Ralph Lauren CorpRL	RPG +1.41 points	1.45%	0.04%
Arista Networks IncANET	RPG +1.40 points	1.94%	0.54%
TKO Group Holdings IncTKO	RPG +1.36 points	1.39%	0.03%
Carnival Corp LtdCCL	RPG +1.33 points	1.43%	0.10%
HCA Healthcare IncHCA	RPG +1.31 points	1.51%	0.20%
Bloom Energy CorpBE	RPG +1.29 points	1.47%	0.18%
KLA CorpKLAC	RPG +1.27 points	1.88%	0.61%
Lumentum Holdings IncLITE	RPG +1.25 points	1.48%	0.23%
EMCOR Group IncEME	RPG +1.24 points	1.32%	0.08%
Expedia Group IncEXPE	RPG +1.22 points	1.31%	0.09%
Royal Caribbean Cruises LtdRCL	RPG +1.18 points	1.40%	0.22%
Twilio IncTWLO	RPG +1.14 points	1.24%	0.10%
Tapestry IncTPR	RPG +1.11 points	1.18%	0.07%
Newmont CorpNEM	RPG +1.10 points	1.43%	0.33%
Robinhood Markets IncHOOD	RPG +1.10 points	1.30%	0.20%
Hilton Worldwide Holdings IncHLT	RPG +1.06 points	1.28%	0.22%
First Solar IncFSLR	RPG +1.04 points	1.09%	0.05%
Ulta Beauty IncULTA	RPG +1.01 points	1.09%	0.08%
Eli Lilly & CoLLY	SPYG +1.00 points	2.07%	3.07%
Monster Beverage CorpMNST	RPG +0.98 points	1.17%	0.19%
Marriott International Inc/MDMAR	RPG +0.97 points	1.21%	0.24%
Wynn Resorts LtdWYNN	RPG +0.97 points	0.99%	0.02%
VeriSign IncVRSN	RPG +0.93 points	1.00%	0.07%
Coherent CorpCOHR	RPG +0.92 points	1.05%	0.13%
IDEXX Laboratories IncIDXX	RPG +0.85 points	0.98%	0.13%
Vistra CorpVST	RPG +0.82 points	0.94%	0.12%
Micron Technology IncMU	RPG +0.80 points	3.75%	2.95%
Las Vegas Sands CorpLVS	RPG +0.80 points	0.83%	0.03%
GE Vernova IncGEV	RPG +0.79 points	1.45%	0.66%
Palantir Technologies IncPLTR	RPG +0.72 points	1.98%	1.26%
DoorDash IncDASH	RPG +0.70 points	0.89%	0.19%
Lam Research CorpLRCX	RPG +0.65 points	1.54%	0.89%
Insulet CorpPODD	RPG +0.63 points	0.66%	0.03%
Welltower IncWELL	RPG +0.62 points	1.09%	0.47%
TransDigm Group IncTDG	RPG +0.60 points	0.78%	0.18%
RTX CorpRTX	RPG +0.59 points	1.34%	0.75%
Flex LtdFLEX	RPG +0.56 points	0.66%	0.10%
Uber Technologies IncUBER	RPG +0.56 points	0.93%	0.37%
O'Reilly Automotive IncORLY	RPG +0.52 points	0.72%	0.20%
Berkshire Hathaway IncBRK.B	SPYG +0.52 points	2.30%	2.82%
AppLovin CorpAPP	RPG +0.50 points	0.69%	0.19%
Casey's General Stores IncCASY	RPG +0.46 points	0.53%	0.07%
Rollins IncROL	RPG +0.39 points	0.42%	0.03%
Applied Materials IncAMAT	RPG +0.31 points	1.24%	0.93%
Advanced Micro Devices IncAMD	RPG +0.27 points	2.85%	2.58%
Booking Holdings IncBKNG	RPG +0.26 points	0.58%	0.32%
Netflix IncNFLX	SPYG +0.19 points	0.53%	0.72%
Intuitive Surgical IncISRG	RPG +0.15 points	0.59%	0.44%
Caterpillar IncCAT	RPG +0.10 points	0.93%	0.83%

All 70 RPG 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.

RPG vs SPYG Cost

Overpaying RPG vs SPYG

$6,277

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

RPG 0.35%
$7,126
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

RPG 0.35%
SPYG 0.04%
Overpaying

Year by year

Year	RPG	SPYG	Overpaying
10	$634	$73	$561
20	$2,454	$288	$2,166
30	$7,126	$849	$6,277

Expense ratio

0.35%RPG
0.04%SPYG, cheaper

SPYG0.04%RPG0.35%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

RPG 24th cheapest of 35 funds

RPG vs SPYG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RPG 0.16%; SPYG 0.50%, better
Payout (12M): RPG $0.09; SPYG $0.59
Last payment: RPG $0.04; SPYG $0.15
Ex-dividend: RPG Sep 21, 2026; SPYG Sep 21, 2026
Paid on: RPG Sep 25, 2026; SPYG Sep 23, 2026
Frequency: RPG Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

RPGQuarterly · 36 paymentsAll RPG payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

RPG vs SPYG Risk

Fall from peak · 5 years

RPG
SPYG

Risk facts

VolatilityStd dev, 3 years: RPG 20.6%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: RPG 0.87SPYG 1.28, better
Worst fallMax drawdown, 5 years: RPG −35.6%SPYG −32.7%, better
Market sensitivityBeta, 5 years: RPG 1.22SPYG 1.17; Market = 1

RPG 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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RPG vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How RPG and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RPG

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 RPG and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in RPG

Only in SPYG

Weight gaps