SPYG vs VUG: Grades, Fees and Holdings Compared

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Vanguard Morningstar Growth ETF

VUGANYSE Arca

Overlap

76.6%by weight

Expense ratio

VUG −0.01pt a year

SPYG0.04%VUG0.03%

Avg volume · 30D

VUG 2.6×the volume

SPYG2.47MVUG6.41M

10Y return · a year

VUG +0.1pt

SPYG+17.3%VUG+17.4%

SPYG vs VUG Performance

Nov 9, 2021 – Nov 9, 2026

+68.4%SPYG+62.5%VUG

Expense ratio: SPYG 0.04%; VUG 0.03%, better
Fund size: SPYG $51.7B; VUG $233B
1Y total return: SPYG +10.0%, better; VUG +5.0%
Yield (12M): SPYG 0.51%, better; VUG 0.41%
Holdings: SPYG 155; VUG 139
Avg volume (30D): SPYG 2.47M sh; VUG 6.41M sh, better
NAV per share: SPYG $112.22; VUG $82.17
52W range

ETF.net Grade

Pillar letters and Scores for SPYG, VUG, with each pillar’s weight
Pillar	SPYG	VUG
Cost30% weight	A96	A96
Mission25% weight	A98	A99Higher
Risk15% weight	B61Higher	C46
Tradability15% weight	A95Higher	B66
Holdings10% weight	D36Higher	D30
Durability5% weight	A79	A89Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. SPYG and VUG 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 VUG 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 4AILCGiShares Morningstar Growth ETFScore 77
Rank 4AVUGVanguard Morningstar Growth ETFScore 77
Rank 6AVBKVanguard Morningstar Small-Cap Growth ETFScore 72

Our read on each fund

ETF.net Research

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

VUGAVanguard Morningstar Growth ETF

In short

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.

VUG Three basis points buys roughly 170 US large-cap growth names. Running since 2004, over $100 billion in assets, and it tracks its index about as closely as an index fund can.

Stated mandate

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.

VUG The fund seeks to track a benchmark index measuring the investment return of large-capitalization growth stocks.

Why people hold 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.

VUG 0.03% a year against a 0.18% median for its growth peer group. A rival tracking the same declared index charges 0.36%, twelve times more for the same shopping list.vanguard.com
One of the largest and most heavily traded funds in US large-cap growth, and among the tightest index implementations in that group. Deep volume tends to mean thin spreads.
Trading since January 2004, so the record spans full market cycles rather than a backtest. Distributions land quarterly.

Worth knowing

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.

VUG Cap-weighted, so the biggest mega-caps dominate the top of the book. That makes it one of the more concentrated portfolios in this cohort.vanguard.com
A style sleeve, not the whole market: growth screens only, large caps only. When growth is out of favor it can swing harder than a total-market fund.
SPYG and SCHG sit at 0.04%, so the price edge is a rounding error. The real gap is how each index defines a growth stock.

Full SPYG profile⁠

Full VUG profile⁠

SPYG vs VUG Holdings

How SPYG and VUG differ

Overlap by weight

76.6%

Shared holdings make up 90.3% of VUG and 79.8% of SPYG.

Level by level

Holdings85 in both76.6%
Sector11 Sectors88.9%
Asset classStocks100%
Countryby domicile99.8%

Sector

Sector weights in SPYG and VUG, widest gap first
Sector	Gap	SPYG	VUG
Technology	VUG +9.0 points	50.6%	59.6%
Financials	SPYG +6.2 points	10.1%	3.9%
Health Care	SPYG +3.3 points	7.6%	4.3%
Industrials	SPYG +1.1 points	5.6%	4.5%
Consumer Discretionary	VUG +1.0 points	9.0%	10.0%
Communication	VUG +0.6 points	14.4%	15.0%
Utilities	SPYG +0.3 points	0.3%	0.0%
Energy	VUG +0.3 points	0.0%	0.3%
Real Estate	VUG +0.2 points	0.7%	0.9%
Consumer Staples	Same weight	1.3%	1.3%
Materials	Same weight	0.4%	0.4%

Country, concentration and asset class

Country by domicile

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

Concentration

Weight in the 10 largest Holdings

SPYG60.1%
VUG63.1%

Securities held

SPYG153
VUG136

Asset class

SPYG: Stocks
VUG: Stocks

Holdings

Only in SPYG68
In both85
Only in VUG51

Only in SPYG

68 securities, 20.2% of SPYG by weight

Berkshire Hathaway Inc Class B3.16%
Micron Technology Inc2.32%
JPMorgan Chase & Co1.80%
Johnson & Johnson1.17%
Caterpillar Inc0.76%
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%
Uber Technologies Inc0.42%
Morgan Stanley0.39%
Newmont Corp0.38%
Intl Business Machines Corp0.36%
American Express Co0.34%
Gilead Sciences Inc0.33%
Progressive Corp0.22%
Hca Healthcare Inc0.22%
Parker Hannifin Corp0.19%
Bank of New York Mellon Corp0.19%
S+p Global Inc0.18%
Cme Group Inc0.18%
Constellation Energy0.16%
Johnson Controls Internation0.16%
Intuit Inc0.16%
Stryker Corp0.14%
General Dynamics Corp0.14%
Trane Technologies PLC0.14%
Cummins Inc0.12%
Boston Scientific Corp0.12%
Te Connectivity PLC0.12%
Vistra Corp0.12%
Carnival Corp Ltd0.11%
United Rentals Inc0.11%
Ebay Inc0.11%
Kkr & Co Inc0.11%
Ross Stores Inc0.11%
Everpure Inc A0.10%
Twilio Inc A0.09%
Simon Property Group Inc0.09%
Expedia Group Inc0.09%
Apollo Global Management Inc0.09%
Okta Inc0.08%
Ulta Beauty Inc0.08%
Edwards Lifesciences Corp0.08%
Emcor Group Inc0.08%
Tapestry Inc0.08%
Casey’s General Stores Inc0.08%

Only in VUG

51 securities, 9.6% of VUG by weight

Intel Corp1.45%
Costco Wholesale Corp1.09%
Western Digital Corp0.44%
Vertex Pharmaceuticals Inc0.37%
Texas Instruments Inc0.36%
Cloudflare Inc0.33%
Snowflake Inc0.32%
Starbucks Corp0.30%
Equinix Inc0.29%
Space Exploration Technologies Corp0.26%
Synopsys Inc0.25%
Dell Technologies Inc0.23%
Motorola Solutions Inc0.22%
Ecolab Inc0.21%
Cintas Corp0.20%
Targa Resources Corp0.18%
Astera Labs Inc0.18%
Fastenal Co0.18%
WW Grainger Inc0.17%
Rocket Lab Corp0.14%
Blackstone Inc0.13%
Coinbase Global Inc0.13%
Chipotle Mexican Grill Inc0.13%
Block Inc0.13%
Waste Connections Inc0.13%
CoreWeave Inc0.11%
Alnylam Pharmaceuticals Inc0.11%
Old Dominion Freight Line Inc0.11%
Vulcan Materials Co0.11%
Atlassian Corp0.10%
West Pharmaceutical Services Inc0.10%
ROBLOX Corp0.10%
MongoDB Inc0.09%
Ares Management Corp0.09%
Super Micro Computer Inc0.09%
Zscaler Inc0.09%
LPL Financial Holdings Inc0.09%
Waters Corp0.08%
Martin Marietta Materials Inc0.06%
HEICO Corp0.06%
Insmed Inc0.06%
Tradeweb Markets Inc0.05%
Texas Pacific Land Corp0.05%
AST SpaceMobile Inc0.05%
SBA Communications Corp0.04%
HEICO Corp0.04%
TRS:VISA INC-CLASS A SHARES USD 2027-Aug-310.04%
SLBBH11420.04%
Cerebras Systems Inc0.04%
Symbotic Inc0.03%

Weight gaps

All 85 Holdings in both funds, largest gap first.

Holding weights in SPYG and VUG, widest gap first
Holding	Gap	SPYG	VUG
Apple IncAAPL	VUG +5.08 points	7.42%	12.50%
Microsoft CorpMSFT	SPYG +1.97 points	11.71%	9.74%
Tesla IncTSLA	VUG +0.79 points	1.86%	2.65%
Eli Lilly & CoLLY	SPYG +0.62 points	3.22%	2.60%
Advanced Micro DevicesAMD	VUG +0.48 points	2.18%	2.66%
Marvell Technology IncMRVL	VUG +0.47 points	0.17%	0.64%
Palo Alto Networks IncPANW	VUG +0.45 points	0.43%	0.88%
Visa Inc Class A SharesV	VUG +0.41 points	1.18%	1.59%
Seagate Technology HoldingsSTX	VUG +0.38 points	0.20%	0.58%
Lam Research CorpLRCX	VUG +0.36 points	0.75%	1.11%
Sandisk CorpSNDK	VUG +0.34 points	0.36%	0.70%
Applied Materials IncAMAT	VUG +0.31 points	0.79%	1.10%
Oracle CorpORCL	VUG +0.30 points	0.35%	0.65%
Amazon.com IncAMZN	VUG +0.25 points	4.01%	4.26%
Meta Platforms Inc Class AMETA	VUG +0.23 points	4.00%	4.23%
Boeing Co/TheBA	VUG +0.23 points	0.18%	0.41%
Servicenow IncNOW	VUG +0.20 points	0.19%	0.39%
Alphabet Inc Class AGOOGL	VUG +0.19 points	4.97%	5.16%
Fortinet IncFTNT	VUG +0.18 points	0.14%	0.32%
Broadcom IncAVGO	VUG +0.19 points	4.15%	4.34%
Corning IncGLW	VUG +0.17 points	0.17%	0.34%
Tjx Companies IncTJX	VUG +0.17 points	0.24%	0.41%
Kla CorpKLAC	VUG +0.16 points	0.54%	0.70%
Teradyne IncTER	VUG +0.13 points	0.06%	0.19%
Royal Caribbean Cruises LtdRCL	SPYG +0.12 points	0.24%	0.12%
Lumentum Holdings IncLITE	VUG +0.12 points	0.14%	0.26%
Mastercard Inc AMA	VUG +0.11 points	1.05%	1.16%
Cadence Design Sys IncCDNS	VUG +0.11 points	0.16%	0.27%
Datadog Inc Class ADDOG	VUG +0.09 points	0.18%	0.27%
Moody’s CorpMCO	VUG +0.09 points	0.11%	0.20%
Airbnb Inc Class AABNB	VUG +0.09 points	0.11%	0.20%
Bloom Energy Corp ABE	VUG +0.08 points	0.15%	0.23%
Ge Vernova IncGEV	VUG +0.08 points	0.61%	0.69%
Alphabet Inc Class CGOOG	VUG +0.08 points	4.01%	4.09%
Comfort Systems Usa IncFIX	VUG +0.07 points	0.11%	0.18%
Workday Inc Class AWDAY	VUG +0.07 points	0.05%	0.12%
Applovin Corp Class AAPP	SPYG +0.07 points	0.31%	0.24%
Intuitive Surgical IncISRG	SPYG +0.07 points	0.48%	0.41%
Arista Networks IncANET	VUG +0.07 points	0.53%	0.60%
General ElectricGE	SPYG +0.07 points	0.52%	0.45%
Take Two Interactive SoftwreTTWO	VUG +0.07 points	0.06%	0.13%
Robinhood Markets Inc AHOOD	VUG +0.07 points	0.19%	0.26%
Dexcom IncDXCM	VUG +0.06 points	0.05%	0.11%
Welltower IncWELL	SPYG +0.07 points	0.53%	0.46%
Coherent CorpCOHR	VUG +0.06 points	0.11%	0.17%
Mettler Toledo InternationalMTD	VUG +0.06 points	0.05%	0.11%
Vertiv Holdings Co AVRT	VUG +0.06 points	0.21%	0.27%
Yum Brands IncYUM	VUG +0.06 points	0.06%	0.12%
Axon Enterprise IncAXON	VUG +0.06 points	0.05%	0.11%
Ciena CorpCIEN	VUG +0.06 points	0.10%	0.16%
NVIDIA CorpNVDA	VUG +0.06 points	13.42%	13.48%
Live Nation Entertainment InLYV	VUG +0.06 points	0.04%	0.10%
Carvana CoCVNA	VUG +0.05 points	0.08%	0.13%
Crowdstrike Holdings Inc ACRWD	VUG +0.05 points	0.66%	0.71%
Veeva Systems Inc Class AVEEV	VUG +0.06 points	0.08%	0.14%
Reddit Inc Class ARDDT	VUG +0.05 points	0.03%	0.08%
Autodesk IncADSK	VUG +0.04 points	0.10%	0.14%
Msci IncMSCI	VUG +0.05 points	0.07%	0.12%
Autozone IncAZO	VUG +0.05 points	0.10%	0.15%
Marriott International Class AMAR	SPYG +0.04 points	0.26%	0.22%
Verisk Analytics IncVRSK	VUG +0.04 points	0.04%	0.08%
Quanta Services IncPWR	VUG +0.04 points	0.24%	0.28%
Hilton Worldwide Holdings InHLT	SPYG +0.04 points	0.25%	0.21%
Interactive Brokers Gro Class AIBKR	SPYG +0.03 points	0.10%	0.07%
Fair Isaac CorpFICO	VUG +0.03 points	0.02%	0.05%
Amphenol Corp Class AAPH	VUG +0.02 points	0.55%	0.57%
Idexx Laboratories IncIDXX	SPYG +0.03 points	0.16%	0.13%
Monolithic Power Systems IncMPWR	VUG +0.02 points	0.17%	0.19%
Monster Beverage CorpMNST	SPYG +0.02 points	0.19%	0.17%
First Solar IncFSLR	SPYG +0.01 points	0.06%	0.05%
McDonald’s CorpMCD	SPYG +0.02 points	0.26%	0.24%
Las Vegas Sands CorpLVS	VUG +0.02 points	0.03%	0.05%
Howmet Aerospace IncHWM	VUG +0.02 points	0.24%	0.26%
Booking Holdings IncBKNG	SPYG +0.02 points	0.36%	0.34%
Transdigm Group IncTDG	SPYG +0.02 points	0.20%	0.18%
Resmed IncRMD	VUG +0.01 points	0.06%	0.07%
Ventas IncVTR	VUG +0.01 points	0.07%	0.08%
Verisign IncVRSN	VUG +0.02 points	0.07%	0.09%
O Reilly Automotive IncORLY	SPYG +0.01 points	0.22%	0.21%
Doordash Inc ADASH	VUG +0.01 points	0.20%	0.21%
Palantir Technologies Inc APLTR	Same weight	1.10%	1.10%
Tko Group Holdings IncTKO	VUG +0.01 points	0.03%	0.04%
Flex LtdFLEX	Same weight	0.08%	0.08%
Rollins IncROL	Same weight	0.03%	0.03%
Netflix IncNFLX	Same weight	0.78%	0.78%

All 153 SPYG holdings⁠All 135 VUG 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.

SPYG vs VUG Cost

Overpaying SPYG vs VUG

$211

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

SPYG 0.04%
$849
VUG 0.03%
$638

Amount$10,000

Years30 years

Cost over time

SPYG 0.04%
VUG 0.03%
Overpaying

Year by year

Year	SPYG	VUG	Overpaying
10	$73	$55	$18
20	$288	$216	$72
30	$849	$638	$211

Expense ratio

0.04%SPYG
0.03%VUG, cheaper

VUG0.03%SPYG0.04%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

VUG cheapest of 35 funds

SPYG 2nd cheapest of 35 funds

SPYG vs VUG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): SPYG 0.51%, better; VUG 0.41%
Payout (12M): SPYG $0.59; VUG $0.35
Last payment: SPYG $0.15; VUG $0.09
Ex-dividend: SPYG Sep 21, 2026; VUG Sep 28, 2026
Paid on: SPYG Sep 23, 2026; VUG Sep 30, 2026
Frequency: SPYG Quarterly; VUG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

VUGQuarterly · 39 paymentsAll VUG payments⁠

SPYG vs VUG Risk

Fall from peak · 5 years

SPYG
VUG

Risk facts

VolatilityStd dev, 3 years: SPYG 16.5%, betterVUG 17.3%
Return per unit of riskSharpe ratio, 3 years: SPYG 1.28, betterVUG 1.11
Worst fallMax drawdown, 5 years: SPYG −32.7%, betterVUG −35.6%
Market sensitivityBeta, 5 years: SPYG 1.18VUG 1.23; Market = 1

SPYG and VUG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026SPYGVUG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SPYGVUG
Behind the Index
Oil rose 4.5% and the 10-year yield stood at 5% as two U.S. stocks fell for every one that rose
Sep 15, 2026VUG

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SPYG vs VUG

In short

Stated mandate

Why people hold it