What does the term 'Large Blend' mean in relation to Fund A (SPY)?

In the context of Fund A, 'Large Blend' signifies that the ETF is designed to capture a mix of both growth and value stocks within the large-capitalisation sector of the market. This approach aims to provide a representation of the broader equity market, rather than isolating a specific style. By including a wide variety of companies, the fund seeks to balance different investment characteristics. This classification helps investors understand that the fund is not exclusively focused on one type of corporate profile, but rather reflects a diverse snapshot of the largest companies listed.

How does the 'Large Growth' category differ from a broader market strategy?

Fund B operates under the 'Large Growth' category, which differs from a broader market strategy by selectively targeting companies with higher potential for earnings expansion. While a blend approach includes stable, mature firms, a growth strategy concentrates on businesses expected to outpace average market growth rates. This often results in different sector weightings and holding concentrations, as the criteria for inclusion focus specifically on financial metrics related to expansion rather than general market capitalisation. The strategy is distinct because it prioritises future performance potential over current valuation or stability metrics commonly found in value stocks.

What does 'expense ratio' actually represent for these two ETFs?

The expense ratio represents the annual operating costs of the fund as a percentage of its total assets. For Fund A, the ratio is 0.09%, while Fund B charges 0.04%. These figures cover management fees and administrative expenses necessary to maintain the fund's structure and track its index. This cost is deducted directly from the fund's assets, effectively reducing the return investors receive. It serves as a primary metric for evaluating the operational efficiency of each ETF, as higher fees can impact long-term net gains. Understanding this ratio helps investors gauge how much of their capital is used to sustain the fund's daily activities rather than being invested.

How do the expense ratios of SPY and SPYG compare?

When comparing the fees, Fund A has an expense ratio of 0.09%, while Fund B is significantly lower at 0.04%. This indicates that Fund B charges less annually for its management and operation. The difference is 0.05 percentage points. Over long periods, such small differences in fees can accumulate, meaning more of the return is retained within the Fund B assets relative to the gross performance, whereas a larger portion is retained in Fund A assets relative to gross performance. The expense ratio is a standardised measure that allows investors to evaluate the operational costs of each fund, independent of market performance or underlying stock selection.

What is the difference in net assets between the two funds?

The net assets of Fund A are substantially larger than those of Fund B. Fund A reports net assets of $785.0 billion, whereas Fund B has net assets of $55.0 billion. This significant difference in scale means that Fund A is much larger in terms of total value held. Such large asset pools often support high liquidity, which facilitates easier trading, though the figures themselves are just a measure of the total market value of the holdings. The disparity in asset size reflects the broader market benchmark status of Fund A compared to the specific growth focus of Fund B.

Which companies are shared top holdings in both ETFs?

There is significant overlap in the top holdings of both funds. Nine of the top ten companies are shared: NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, and META. This list also includes MU, bringing the total to nine shared entities among the leading positions. These companies, including major technology firms, appear prominently in both lists, indicating that many large-cap growth names are also central to the broader market index tracked by Fund A. The presence of these shared stocks suggests a core correlation between the performance of the specific growth ETF and the blend ETF, despite their differing categorisations.

How do the dividend yields of Fund A and Fund B differ?

Fund A provides a dividend yield of 0.98%, while Fund B has a significantly lower yield of 0.47%. This difference indicates that the broader market holdings in Fund A generally pay out more income relative to their share price compared to the growth-focused companies in Fund B. Lower dividend yields are common in growth ETFs because these companies often retain more of their earnings to reinvest in operations and expansion, rather than distributing them to shareholders. Consequently, Fund A may appear to offer more immediate cash income potential, whereas Fund B's return is more likely driven by capital appreciation, reflecting the differing corporate strategies of the underlying companies.

What index does Fund A track, and how is it classified?

The index tracked by Fund A is not available in the provided data. However, the fund is classified as a 'Large Blend' category and is named S&P 500 ETF Trust SPDR. This suggests it is likely associated with tracking the S&P 500 index, but without explicit confirmation in the data, this connection is not definitive. The fund has been in existence since January 22, 1993, which aligns with the establishment of the benchmark. Investors should consider the available classification and name to understand its intended market representation.

What is the inception date of Fund B compared to Fund A?

Fund A has an inception date of January 22, 1993, making it significantly older than Fund B. In contrast, Fund B was launched on September 25, 2000. This means Fund A has a much longer operational history, having been in existence for approximately seven years before Fund B was introduced. The longer history may contribute to the differences in their asset sizes, with Fund A having accumulated $785.0 billion compared to Fund B's $55.0 billion. The specific timing of these market entries may influence investor familiarity with the products.

What does the concentration of top holdings imply for these funds?

Concentration is a relevant factor when examining the top holdings of both funds. In Fund A, the leading holding, NVDA, accounts for 8.16% of the fund. In Fund B, NVDA represents a larger portion of the portfolio, at 14.78% of the fund. This indicates that Fund B has a higher concentration risk regarding its top holding compared to Fund A. The top ten holdings account for significant proportions in both cases, meaning the performance of these specific large technology companies can heavily influence the overall returns of each ETF. This data highlights the differing weights of major positions.

What type of investing goal is associated with Fund B's focus?

Fund B's large growth focus is typically associated with an objective of capturing capital appreciation rather than generating current income. This specific focus offers targeted exposure to companies with higher earnings expansion potential, which can result in significant price movement in the short term. The lower dividend yield of 0.47% reflects this emphasis on reinvestment and expansion. Consequently, it is more commonly viewed as suitable for portfolios where growth is prioritised, particularly for those with a longer time horizon where market fluctuations might be more tolerable. Investors might choose such a fund if they believe the underlying growth companies will outperform over time.

What educational disclaimer applies to comparing these two ETFs?

The information on this page compares Fund A and Fund B solely for educational purposes. It details features like expense ratios, net assets, and top holdings to help understand their differences. This comparison is not financial advice, and no recommendation to buy or sell either ETF is implied or made. Investors should be aware that sector weights data is not available for either fund in this dataset, which can limit insight into specific industry exposure balances. All figures are based on provided ground truth, and actual fund performance and details may vary.

SPY vs SPYG

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

This page compares SPY and SPDR Portfolio S&P 500 Growth ETF (SPYG). Both are SPDR funds, but they differ in category, expense ratio and dividend yield. We look at fees, holdings and dividends, and consider how each fund reflects its market focus. Educational content, not financial advice.

This page compares SPY and SPDR Portfolio S&P 500 Growth ETF (SPYG). Both are SPDR funds, but they differ in category, expense ratio and dividend yield. We look at fees, holdings and dividends, and co...

Fund Snapshot

Key Fund Metrics

SPY

Metric

SPYG

0.09%

Expense Ratio

0.04%

0.98%

Dividend Yield

0.47%

$785.05B

Net Assets

$55.00B

505

Holdings

153

Jan 22, 1993

Inception Date

Sep 25, 2000

–

Index Tracked

–

Large Blend

Fund Category

Large Growth

SPYG costs about $5.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SPY	SPYG
NVDANVIDIA Corporation	8.16%	14.78%
AAPLApple Inc.	7.44%	6.74%
MSFTMicrosoft Corporation	5.56%	10.07%
AMZNAmazon.com, Inc.	3.78%	3.63%
GOOGLAlphabet Inc.	3.11%	5.64%
AVGOBroadcom Inc.	2.58%	4.67%
GOOGAlphabet Inc.	2.48%	4.50%
METAMeta Platforms, Inc.	2.23%	4.03%
MUMicron Technology, Inc.	1.74%	3.15%

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Investment Analysis

SPY

Pros

The fund's large net assets of $785.0 billion facilitate high liquidity and tight trading spreads.
Its broad Large Blend category aligns with the standard equity market benchmark for diversified portfolios.
An expense ratio of 0.09% provides reasonable cost efficiency for such a massive asset pool.

Considerations

The dividend yield of 0.98% may be unsuitable for investors prioritising current income over growth.
The top ten holdings account for significant concentration, with NVDA alone representing 8.16% of the fund.
Sector weights data is not available, limiting immediate insight into specific industry exposure balances.

SPYG

Pros

The lower expense ratio of 0.04% improves net return potential compared to many larger blended market funds.
Its specific Large Growth focus offers targeted exposure to companies with higher earnings expansion potential.
Net assets of $55.0 billion demonstrate a sufficiently large scale for standard institutional and retail trading.

Considerations

Concentration risks are elevated, with the top holding NVDA at 14.78% significantly overweight versus the broader market.
The dividend yield of 0.47% is notably low, potentially reducing the fund's appeal for income-focused investors.
Sector weights are not available, making it difficult to assess the underlying industry diversification within the growth strategy.

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About SPY and SPYG

SPY (SPY)

SPDR S&P 500 ETF Trust (SPY) is an exchange‑traded fund designed to track the S&P 500 index, offering investors broad exposure to large‑capitalisation US equities. It is widely used by retail and institutional investors for core portfolio allocation, tactical trading and hedging because of its deep liquidity and transparent holdings. SPY distributes dividends (typically quarterly) and reflects the performance of the underlying index, so returns move with the US large‑cap market. As with any equity product, value can fall as well as rise and past performance is not a guide to the future. Costs, tax considerations and suitability will depend on an individual’s circumstances; consult official documents and consider seeking independent advice where appropriate. This summary is general educational information and not personalised investment advice.

SPYG (SPYG)

The SPDR Portfolio S&P 500 Growth ETF offers investors a streamlined way to access large-cap companies within the S&P 500 index that exhibit growth characteristics. With an exceptionally low expense ratio of just 0.04%, this fund prioritises cost efficiency, making it an attractive option for long-term investors seeking broad exposure to growth-oriented sectors. Holding 153 stocks, it provides diversification across key growth leaders while maintaining a manageable portfolio size. Although its dividend yield of 0.47% is modest compared to income-focused funds, the primary aim here is capital appreciation driven by companies expected to outpace average market growth. As with any equity investment, values can rise and fall, and returns are not guaranteed. Investors should consider their own risk tolerance and investment objectives before allocating funds to this ETF, ensuring it aligns with their overall portfolio strategy.

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SPY vs SPYG

Fund Snapshot