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SPLG
SPDR Portfolio S&P 500 ETF · Broad Market ETF
$87.06
-0.08% this month
VERSUS
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SPY
SPDR S&P 500 ETF Trust · Broad Market ETF
$746.74
+2.04% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
SPLG
2
SPY
2
Comparison scoreboard
MIXED SETUPExp. Ratio
SPLG ✓0.02%
SPY 0.09%
1Y Return
SPLG +24.36%
SPY ✓+26.75%
Div. Yield
SPLG ✓1.13%
SPY 0.98%
AUM
SPLG $97.33B
SPY ✓$783.8B
Beta
SPLG N/A
SPY 1.02
Metrics last refreshed: 6/20/2026
Quick take
SPLG vs SPY ETF Comparison: AI Score, Valuation, Performance and Upside
SPLG and SPY track the identical S&P 500 index and hold the same securities. The only meaningful differences are: expense ratio (SPLG 0.02% vs SPY 0.09%), options market liquidity (SPY dominates), and share price (SPLG ~$60 vs SPY ~$600). For most long-term retail investors, SPLG is the better choice — same index at lower cost. SPY's higher expense ratio is justified only for institutional or options-focused investors needing maximum liquidity.
SPLG vs SPY — two ETFs tracking the same S&P 500 index from the same fund family (State Street), with SPLG providing 0.02% expense ratio for cost-conscious long-term investors and SPY providing 0.09% expense ratio with the world's most liquid equity ETF for institutional and options market participants.
Live analysis · updated 6/20/2026
SPLG and SPY are closely matched — they split the tracked metrics evenly. SPY has delivered stronger 1-year price return (+26.75% vs +24.36% for SPLG).
Normalized 1Y performance
SPLG
SPY
Recent returns
SPLG
SPY
Who should consider this stock?
SPLG may suit investors who:
- →prefer the lower-cost S&P 500 ETF from State Street at 0.02% expense ratio — identical index exposure to SPY at 0.07% lower annual cost that compounds significantly over decades
- →value lower share price (~$60+) for more granular position sizing without requiring fractional shares for small regular investments
- →want the same S&P 500 exposure as SPY without paying for institutional-grade options liquidity they don't need
- →are comfortable with lower options market liquidity and thinner trading volume vs SPY for buy-and-hold investing
SPY may suit investors who:
- →need the world's most liquid equity ETF options market for covered call strategies, protective puts, collar hedging, or institutional derivative overlays
- →make large institutional trades where SPY's narrower bid-ask spreads and deeper liquidity pool reduce transaction costs vs thin alternatives
- →want the original S&P 500 ETF with the longest track record and universal recognition in financial market discourse
- →are comfortable with the 0.07% higher expense ratio knowing they are paying for institutional-grade liquidity that benefits their specific investment strategy
Performance & AI score
| Metric | SPLG | SPY |
|---|---|---|
| ETF score | 88.0 | 87.0 |
| Latest close | $87.06 | $746.74 |
| 1M return | -0.08% | +2.04% |
| 6M return | +8.27% | +12.14% |
| 1Y return | +24.36% | +26.75% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | SPLG | SPY |
|---|---|---|
| 1Y ago | $12.61K (+26.1%) started 2025-06-12 | $12.85K (+28.5%) started 2025-06-18 |
| 5Y ago | $20.21K (+102.1%) started 2021-06-14 | $20.73K (+107.3%) started 2021-06-18 |
| 10Y ago | $50.88K (+408.8%) started 2016-06-13 | $50.21K (+402.1%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | SPLG | SPY |
|---|---|---|
| Expense ratio | 0.02% | 0.09% |
| Total assets (AUM) | $97.33B | $783.8B |
| Dividend yield | 1.13% | 0.98% |
| Trailing P/E | 27.43 | 26.74 |
| Beta | N/A | 1.02 |
| 52-week change | 24.36% | 26.75% |
Risk & fund metrics
| Metric | SPLG | SPY |
|---|---|---|
| 1Y return | +24.36% | +26.75% |
| 6M return | +8.27% | +12.14% |
| 1M return | -0.08% | +2.04% |
| 1Y Sharpe ratio | 1.48 | 1.62 |
| Beta | N/A | 1.02 |
| Dividend yield | 1.13% | 0.98% |
| 5Y CAGR | +13.39% | +14.00% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
SPLG max drawdown8.90%
SPY max drawdown8.88%
SPLG max wkly drop3.84%
SPY max wkly drop3.82%
5Y risk snapshot
SPLG max drawdown24.48%
SPY max drawdown24.50%
SPLG max wkly drop11.49%
SPY max wkly drop11.50%
10Y risk snapshot
SPLG max drawdown33.87%
SPY max drawdown33.72%
SPLG max wkly drop18.11%
SPY max wkly drop17.97%
Performance metrics by period
| Period | Metric | SPLG | SPY |
|---|---|---|---|
| 1Y | Growth | +24.36% | +26.75% |
| CAGR | +24.37% | +26.77% | |
| Sharpe ratio | 1.48 | 1.62 | |
| Max drawdown | 8.90% | 8.88% | |
| Max daily drop | 2.68% | 2.70% | |
| Max wkly drop | 3.84% | 3.82% | |
| 5Y | Growth | +87.31% | +92.56% |
| CAGR | +13.39% | +14.00% | |
| Sharpe ratio | 0.56 | 0.59 | |
| Max drawdown | 24.48% | 24.50% | |
| Max daily drop | 5.99% | 5.85% | |
| Max wkly drop | 11.49% | 11.50% | |
| 10Y | Growth | +322.60% | +321.77% |
| CAGR | +15.51% | +15.49% | |
| Sharpe ratio | 0.64 | 0.64 | |
| Max drawdown | 33.87% | 33.72% | |
| Max daily drop | 11.68% | 10.94% | |
| Max wkly drop | 18.11% | 17.97% |
Fund overview
| Category | SPLG | SPY |
|---|---|---|
| Fund name | State Street SPDR Portfolio S&P 500 ETF | State Street SPDR S&P 500 ETF Trust |
| Type | ETF | ETF |
| Expense ratio | 0.02% | 0.09% |
| Total assets (AUM) | $97.33B | $783.8B |
| Dividend yield | 1.13% | 0.98% |
SPLG strengths
- →0.02% expense ratio matches the cheapest S&P 500 ETFs: SPLG's annual cost is 0.07% less than SPY — over 30 years, this compounds to meaningful savings
- →Same S&P 500 index as SPY: SPLG holds identical underlying securities to SPY — same market exposure, same dividend treatment, same index methodology
- →Lower share price increases accessibility: SPLG's ~$60+ share price vs SPY's ~$600+ makes fractional-share investing unnecessary for building full-share positions
SPY strengths
- →Most liquid equity ETF in the world: SPY's $20–50B+ daily trading volume and world's most liquid options market make it irreplaceable for institutional and options-based strategies
- →30+ year track record: SPY is the original S&P 500 ETF with a 1993 inception — the longest track record in index ETF investing
- →Institutional standard: S&P 500 exposure via SPY is the default benchmark instrument for portfolio managers, hedge funds, and market makers globally
Risks to watch — SPLG
- →Lower options market liquidity than SPY: SPLG's options market is thin — investors who hedge or implement covered call strategies should use SPY instead
- →Lower trading volume than SPY: for large institutional trades, SPY's tighter bid-ask spreads and larger liquidity pool provide better execution
- →SPLG is less widely known: financial advisors and 401k plan menus may default to SPY — investors may not be offered SPLG as an option
Risks to watch — SPY
- →0.09% expense ratio is higher than alternatives: over 30 years, SPY's expense ratio costs significantly more than SPLG/VOO/IVV at 0.02–0.03%
- →Long-term retail investors are paying more for liquidity they don't need: most individual investors don't need SPY's options market depth — they'd be better served by cheaper alternatives
- →Unit investment trust structure vs ETF structure: SPY is a UIT (must reinvest dividends at quarter-end rather than immediately) which can create minor tracking error differences vs open-end ETF alternatives
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