Dividend comparison
SPYG vs SPYM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR Portfolio S&P 500 Growth ETF and State Street SPDR Portfolio S&P 500 ETF, side by side. Updated October 21, 2026.
SPYG vs SPYM: key differences
The short answer, from the latest data on this page.
- Fees. SPYM is cheaper at 0.02% a year versus 0.04% for SPYG. On $10,000 that is $2 a year less in fees.
- Income. SPYM pays more income, yielding 1.01% over the last twelve months versus 0.48% for SPYG. That is about $52 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SPYG returned 86.3% versus 82.0% for SPYM, with dividends reinvested. $10,000 would have grown to $18,633 in SPYG and $18,201 in SPYM.
- Risk. SPYG has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -32.7%, against -24.5% for SPYM.
- Diversification. SPYM holds 505 positions and SPYG holds 152. The ten largest positions make up 60.2% of SPYG and 38.7% of SPYM.
- Overlap. At least 59% of the two portfolios overlap by weight, across 56 shared holdings.
- Dividend growth. SPYM grew its yearly payout 6.8% a year over the last 4 years, versus 5.3% for SPYG.
- Size. SPYM is the larger fund with $182.9 billion in assets, against $56.1 billion for SPYG.
Bottom line: SPYG fits better if you care most about stronger 5-year returns. SPYM fits better if you care most about lower fees, more income today, smaller drawdowns, faster dividend growth and broader diversification.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | SPYG State Street SPDR Portfolio S&P 500 Growth ETF | SPYM State Street SPDR Portfolio S&P 500 ETF |
|---|---|---|
| Dividend yield (TTM) | 0.48% | 1.01% |
| Dividend / share (TTM) | $0.59 | $0.91 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.1482 on Sep 23, 2026 | $0.2391 on Sep 15, 2026 |
| Ex-dividend date | Sep 21, 2026 | Sep 11, 2026 |
| Dividend growth (CAGR) | 5.3% over 4 yrs | 6.8% over 4 yrs |
| Price | $121.15 | $90.53 |
| Dividend growth streak | 1 year | 5 years |
| Beta | 1.18 | 1.01 |
| Max drawdown (5Y) | -32.7% | -24.5% |
| Market cap | $55.60B | $165.27B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.04% | 0.02% |
| Assets under management | $56.15B | $182.92B |
| Number of holdings | 152 | 505 |
| Top 10 concentration | 60.2% | 38.7% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SPYG
$4.03/mo
$48 /yr at 0.48% yield
SPYM
$8.38/mo
$101 /yr at 1.01% yield
Dividend history
Total dividends paid per share in each calendar year. SPYG pays quarterly; SPYM pays quarterly.
| Year | SPYG | SPYM |
|---|---|---|
| 2025 | $0.5519 | $0.9074 |
| 2024 | $0.5315 | $0.8796 |
| 2023 | $0.7493 | $0.8046 |
| 2022 | $0.5194 | $0.7618 |
| 2021 | $0.4482 | $0.6977 |
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.
Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $18,633 in SPYG and $18,201 in SPYM.
| Period | SPYG | SPYM |
|---|---|---|
| 1 month | -0.14% | 0.99% |
| 3 months | 4.05% | 3.90% |
| Year to date | 13.98% | 13.75% |
| 1 year | 15.83% | 15.89% |
| 3 years | 110.00% | 89.27% |
| 5 years | 86.33% | 82.01% |
- SPYG
- SPYM
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- SPYG
- SPYM
SPYG vs SPYM holdings overlap
At least 59% overlap by weight, with 56 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | SPYG weight | SPYM weight |
|---|---|---|
| NVDANVIDIA CORP | 14.45% | 7.92% |
| AAPLAPPLE INC | 6.88% | 7.55% |
| MSFTMICROSOFT CORP | 10.90% | 5.97% |
| AMZNAMAZON.COM INC | 3.76% | 3.88% |
| GOOGLALPHABET INC CL A | 5.56% | 3.05% |
| GOOGALPHABET INC CL C | 4.45% | 2.44% |
| AVGOBROADCOM INC | 4.38% | 2.40% |
| METAMETA PLATFORMS INC CLASS A | 4.28% | 2.35% |
| TSLATESLA INC | 1.77% | 1.56% |
| MUMICRON TECHNOLOGY INC | 2.81% | 1.54% |
Top 10 holdings
Largest positions by portfolio weight.
SPYG152 holdings total
Quick verdict
SPYG fits better if you care most about stronger 5-year returns. SPYM fits better if you care most about lower fees, more income today, smaller drawdowns, faster dividend growth and broader diversification. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
Forecast dividend income, track payouts, and see how SPYG vs SPYM fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SPYG or SPYM better for dividend income?
It depends on your goals. SPYG currently yields 0.48% Trailing Twelve Months (TTM) while SPYM yields 1.01%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between SPYG and SPYM?
State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) is an ETF listed on AMEX. State Street SPDR Portfolio S&P 500 ETF (SPYM) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, SPYG or SPYM?
SPYM has the lower expense ratio. SPYG charges 0.04% a year and SPYM charges 0.02%, a difference of $2 a year on a $10,000 investment.
Which has performed better, SPYG or SPYM?
Over the last 5 years, SPYG has the higher total return with dividends reinvested: SPYG returned 86.3% and SPYM returned 82.0%. Past performance does not predict future returns.
Which is riskier, SPYG or SPYM?
Measured by the worst peak-to-trough decline over the last five years, SPYG has been riskier: SPYG fell as much as 32.7% and SPYM as much as 24.5%. Their betas are 1.18 and 1.01.
How much do SPYG and SPYM overlap?
At least 59% of the two portfolios overlap by weight, across 56 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do SPYG and SPYM pay dividends?
Both pay quarterly. The most recent payments were $0.1482 for SPYG and $0.2391 for SPYM.
How much income does $10,000 in SPYG vs SPYM generate?
At current TTM yields, $10,000 in SPYG would generate roughly $4.03 per month ($48 annually). The same amount in SPYM would produce about $8.38 per month ($101 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both SPYG and SPYM?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare SPYG vs SPYM with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SPYG and SPYM fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.