RFG vs SPY
RFG vs SPY
Invesco S&P Midcap 400 Pure Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. RFG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | RFG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $345M | $789.1B | |
| Dividend Yield | 0.14% | 1.01% | |
| Holdings | 98 | 505 | |
| YTD Return | +15.27% | +13.10% | |
| 1Y Return | +23.74% | +22.80% | |
| 3Y Return (annualized) | +15.28% | +20.98% | |
| 5Y Return (annualized) | +6.89% | +13.20% | |
| Volatility (annualized) | 19.6% | 15.3% | |
| Max Drawdown | -52.0% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 1, 2006 | Jan 22, 1993 |
RFG vs SPY Performance
Invesco S&P Midcap 400 Pure Growth ETF (RFG) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RFG returned +23.74% while SPY returned +22.80%. Year to date, RFG is up 15.27% versus a gain of 13.10% for SPY.
Over three years, RFG compounded at +15.28% per year against +20.98% for SPY; over five years the annualized figures are +6.89% and +13.20% respectively. Across the full 20-year window we track, RFG has the edge at +9.35% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RFG has been the more volatile fund, with annualized monthly volatility of 19.6% 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 -52.0% for RFG 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
RFG charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, RFG currently yields 0.14% against 1.01% for SPY.
Holdings Overlap
RFG and SPY share 0 holdings out of 602 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RFG or SPY?
RFG has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, RFG or SPY?
Over the past year RFG returned +23.74% vs +22.80% for SPY, so RFG leads on 1-year performance. Over the longest common window we track (20 years), RFG annualized +9.35% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, RFG or SPY?
RFG has been the more volatile fund at 19.6% annualized versus 15.3% for SPY. Worst drawdown: RFG -52.0% vs SPY -56.5%.
Should I hold both RFG and SPY?
RFG and SPY have a monthly-return correlation of 0.88, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RFG and SPY?
RFG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 602 unique securities.
Which pays a higher dividend, RFG or SPY?
RFG yields 0.14% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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