What does the expense ratio mean for ETF investors?

The expense ratio is an annual fee deducted from fund assets to cover operating costs. It reduces investor returns over time. In this comparison, Fund A has an expense ratio of 0.04%, while Fund B has an expense ratio of 0.03%. A lower fee is generally favourable for long-term holding, assuming similar performance and holdings.

How do expense ratios impact long-term investment returns?

Even small differences in fees can accumulate over decades. A 0.01 percentage point difference between 0.04% and 0.03% might seem minor, but compounding can magnify its impact. Investors should consider fees alongside other factors like tracking accuracy and portfolio composition to get a full picture of potential net returns.

What type of exposure do these ETFs provide?

Both funds provide exposure to large growth equities in the US market. They typically hold stocks with strong earnings growth potential, such as technology and consumer discretionary companies. The focus is on capital appreciation rather than income, which is reflected in their lower dividend yields.

How similar are the top holdings in these two funds?

There is significant overlap in the top holdings. Both funds list NVDA, MSFT, AAPL, GOOGL, AVGO, GOOG, META and AMZN among their largest positions. While specific weights differ, the shared names suggest highly correlated performance, as both are driven by the same major US tech and growth companies.

Which fund has higher assets under management?

Fund B has $232.1 billion in net assets, whereas Fund A has $55.0 billion. Higher assets under management can indicate greater liquidity and potentially tighter bid-ask spreads for traders. However, the difference in size alone does not determine which fund is better for long-term investing.

What is the difference in dividend yields?

Fund A has a dividend yield of 0.47%, while Fund B has a yield of 0.37%. Both yields are low, which is common for growth-oriented funds that prioritise reinvesting profits for share price appreciation over distributing cash to shareholders. These figures are based on recent data and can change.

Are sector weights available for these funds?

No, detailed sector weight data is not available for either fund according to the provided information. This limits the ability to compare concentration risks across industries like technology, healthcare, or consumer goods. Investors typically use such data to assess diversification, so its absence is a notable constraint in this comparison.

How do inception dates differ between the two funds?

Fund A was launched on September 25, 2000, giving it a longer operational history. Fund B was launched on January 26, 2004. Both have track records exceeding 20 years, allowing investors to review decades of performance data, though past performance is not indicative of future results.

What should investors consider when choosing between these similar funds?

Key differentiators include the expense ratio (0.03% vs 0.04%), assets under management, and minor differences in holding weights. Since both track similar indices and hold many of the same stocks, the choice often comes down to cost efficiency and liquidity preferences. Always verify current data before making decisions.

Is this page financial advice?

No, this content is for educational purposes only and does not constitute financial advice. The comparison highlights factual data like fees and holdings. Investors should conduct their own research and consider their personal financial situation, risk tolerance and goals before making any investment decisions.

SPYG vs VUG

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

Compare SPDR Portfolio S&P 500 Growth ETF and Vanguard US Growth ETF. This page reviews fees, holdings, dividends and how each fund tracks its market. SPYG carries a 0.04% expense ratio, while VUG has a 0.03% expense ratio. Both track US large growth stocks and hold NVDA, MSFT, AAPL, GOOGL, AVGO, GOOG, META and AMZN in their top 10 holdings. Sector weights are not available. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SPYG

Metric

VUG

0.04%

Expense Ratio

0.03%

0.47%

Dividend Yield

0.37%

$55.00B

Net Assets

$232.11B

153

Holdings

151

Sep 25, 2000

Inception Date

Jan 26, 2004

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Index Tracked

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Large Growth

Fund Category

Large Growth

VUG costs about $1.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SPYG	VUG
NVDANVIDIA Corporation	14.78%	13.62%
MSFTMicrosoft Corporation	10.07%	10.12%
AAPLApple Inc.	6.74%	12.49%
GOOGLAlphabet Inc.	5.64%	5.34%
AVGOBroadcom Inc.	4.67%	4.10%
GOOGAlphabet Inc.	4.50%	4.21%
METAMeta Platforms, Inc.	4.03%	3.39%
AMZNAmazon.com, Inc.	3.63%	4.76%

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Investment Analysis

SPYG

Pros

The fund offers a low expense ratio of 0.04%, supporting cost-efficient exposure to large-cap growth equities.
With $55.0 billion in net assets, the ETF benefits from substantial size and likely enhanced trading liquidity.
Since its inception in September 2000, the fund has established a long operational history for investor evaluation.

Considerations

The specific index tracked is not available, limiting transparency regarding the exact methodology used for selection.
Sector weight data is not available, making it difficult to assess concentration risks across different industry segments.
Its dividend yield of 0.47% may be insufficient for income-focused investors seeking regular cash distributions.

VUG

Pros

The ETF charges an ultra-low expense ratio of 0.03%, making it highly cost-effective for long-term holding.
It commands $232.1 billion in net assets, indicating massive scale and potentially very tight bid-ask spreads.
Inception in January 2004 provides over two decades of track record for performance analysis.

Considerations

The tracked index is not available, which obscures the precise benchmark and selection criteria for the fund.
Lack of available sector weights prevents a clear assessment of diversification across economic sectors.
A dividend yield of 0.37% is quite low, potentially unsuitable for investors prioritising income generation.

About SPYG and VUG

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.

VUG (VUG)

This exchange-traded fund aims to track the performance of large-capitalisation U.S. companies classified as growth stocks. It generally holds shares of businesses expected to expand faster than the broader market, often focusing on sectors like information technology and consumer discretionary. The fund maintains a low expense ratio, which helps preserve investor returns over time. While growth stocks can offer significant capital appreciation during favourable economic conditions, they may also experience higher volatility and sharper declines when market sentiment shifts or interest rates rise. With over 150 holdings, the fund provides diversified exposure to leading U.S. growth firms. Investors should note that past performance is not indicative of future results, and values can go down as well as up. The fund pays a modest dividend yield, but its primary objective remains capital growth rather than income generation. It is suitable for those seeking long-term exposure to the growth segment of the U.S. equity market.

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SPYG vs VUG

Fund Snapshot