SPGP vs SPY
SPGP vs SPY
Invesco S&P 500 GARP ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SPGP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.09% | |
| AUM | $2.2B | $789.1B | |
| Dividend Yield | 0.82% | 1.01% | |
| Holdings | 76 | 505 | |
| YTD Return | +12.67% | +13.79% | |
| 1Y Return | +20.35% | +23.66% | |
| 3Y Return (annualized) | +12.03% | +21.40% | |
| 5Y Return (annualized) | +8.31% | +13.37% | |
| Volatility (annualized) | 16.3% | 15.3% | |
| Max Drawdown | -42.4% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 16, 2011 | Jan 22, 1993 |
SPGP vs SPY Performance
Invesco S&P 500 GARP ETF (SPGP) 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 SPGP returned +20.35% while SPY returned +23.66%. Year to date, SPGP is up 12.67% versus a gain of 13.79% for SPY.
Over three years, SPGP compounded at +12.03% per year against +21.40% for SPY; over five years the annualized figures are +8.31% and +13.37% respectively. Across the full 15-year window we track, SPGP has the edge at +13.62% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPGP has been the more volatile fund, with annualized monthly volatility of 16.3% 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 -42.4% for SPGP 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 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SPGP charges 0.36% per year while SPY charges 0.09%. On a $10,000 position that is $36 vs $9 annually, a gap of $27 per year that compounds over a long holding period. On income, SPGP currently yields 0.82% against 1.01% for SPY.
Holdings Overlap
SPGP and SPY share 74 holdings out of 504 unique holdings combined, representing a 16.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in SPGP | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 2.12% | 7.31% | 5.19% |
| MSFT | 0.91% | 4.43% | 3.52% |
| GOOG | 1.22% | 2.66% | 1.44% |
| META | Pro | Pro | Pro |
| LLY | Pro | Pro | Pro |
| GE | Pro | Pro | Pro |
| APP | Pro | Pro | Pro |
| CINF | Pro | Pro | Pro |
| FIX | Pro | Pro | Pro |
| PGR | Pro | Pro | Pro |
See all 10 holdings SPGP 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, SPGP or SPY?
SPGP has an expense ratio of 0.36% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $27 per year of difference.
Which performed better, SPGP or SPY?
Over the past year SPGP returned +20.35% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), SPGP annualized +13.62% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SPGP or SPY?
SPGP has been the more volatile fund at 16.3% annualized versus 15.3% for SPY. Worst drawdown: SPGP -42.4% vs SPY -56.5%.
Should I hold both SPGP and SPY?
SPGP and SPY have a monthly-return correlation of 0.92, 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 SPGP and SPY?
SPGP and SPY share 74 common holdings with a 16.2% weight overlap. Combined, they hold 504 unique securities.
Which pays a higher dividend, SPGP or SPY?
SPGP yields 0.82% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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