MGV vs SPY
MGV vs SPY
Vanguard Mega Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
MGV has a lower expense ratio. MGV delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | MGV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.05% | 0.09% | |
| AUM | $13.2B | $789.1B | |
| Dividend Yield | 2.26% | 1.01% | |
| Holdings | 123 | 505 | |
| YTD Return | +18.07% | +13.28% | |
| 1Y Return | +30.29% | +23.94% | |
| 3Y Return (annualized) | +18.64% | +21.07% | |
| 5Y Return (annualized) | +13.17% | +13.27% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -57.5% | -56.5% | |
| Fund Family | Vanguard (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 17, 2007 | Jan 22, 1993 |
MGV vs SPY Performance
Vanguard Mega Cap Value ETF (MGV) is a ETF from Vanguard (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MGV returned +30.29% while SPY returned +23.94%. Year to date, MGV is up 18.07% versus a gain of 13.28% for SPY.
Over three years, MGV compounded at +18.64% per year against +21.07% for SPY; over five years the annualized figures are +13.17% and +13.27% respectively. Across the full 19-year window we track, SPY has the edge at +8.84% annualized vs +7.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MGV has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -57.5% for MGV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MGV charges 0.05% per year while SPY charges 0.09%. On a $10,000 position that is $5 vs $9 annually, a gap of $4 per year that compounds over a long holding period. On income, MGV currently yields 2.26% against 1.01% for SPY.
Holdings Overlap
MGV and SPY share 116 holdings out of 510 unique holdings combined, representing a 34.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in MGV | Weight in SPY | Difference |
|---|---|---|---|
| MU | 6.14% | 1.71% | 4.43% |
| JPM | 3.86% | 1.40% | 2.46% |
| BRK.B | 3.32% | 1.43% | 1.89% |
| JNJ | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| WMT | Pro | Pro | Pro |
| CAT | Pro | Pro | Pro |
| ABBV | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
| COST | Pro | Pro | Pro |
See all 10 holdings MGV shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, MGV or SPY?
MGV has an expense ratio of 0.05% while SPY charges 0.09%. MGV is the cheaper option. On a $10,000 investment, that is $4 per year of difference.
Which performed better, MGV or SPY?
Over the past year MGV returned +30.29% vs +23.94% for SPY, so MGV leads on 1-year performance. Over the longest common window we track (19 years), MGV annualized +7.35% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, MGV or SPY?
MGV has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: MGV -57.5% vs SPY -56.5%.
Should I hold both MGV and SPY?
MGV and SPY have a monthly-return correlation of 0.93, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between MGV and SPY?
MGV and SPY share 116 common holdings with a 34.3% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, MGV or SPY?
MGV yields 2.26% while SPY yields 1.01%, so MGV currently pays the higher dividend yield.
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