MLRG vs SPGP: Differences, Returns & Fees
MLRG and SPGP hold 18% of their weight in the same names, and MLRG returned +15.5% over the year. Net assets on Oct 20, 2026: $1.3bn for iShares MSCI USA ETF and $2.1bn for Invesco S&P 500 GARP ETF.
MLRG costs 0.31 points a year less; their one-year returns differ by 5.5 points; SPGP is 1.6 times larger.
| MLRG | SPGP | |
|---|---|---|
| Expense ratio | 0.03% | 0.34% |
| Net assets | $1.3bn | $2.1bn |
| Total return, 1 year | +15.5% | +10.0% |
| What it tracks | MSCI USA Index | S&P 500 GARP Index |
| Holdings in common | 18% | |
| Top ten holdings, share of the fund | 37.8% | 20.4% |
| Below its high | 4.0%, high on Aug 13, 2026 | |
Holdings in common uses holdings dated Oct 19, 2026.
MLRG and SPGP are built for the same job. How do they differ in cost, holdings and results?
- What each follows. MLRG follows MSCI USA Index and SPGP follows S&P 500 GARP Index.
- Holdings in common. 18% of the weight is in the same securities (holdings dated Oct 19, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 MLRG returned +15.5% and SPGP +10.0% with distributions reinvested, a gap of 5.5 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, MLRG and SPGP hold 18% of their money in the same securities at the same weight. Holdings dated Oct 19, 2026.
half
18% in common
On the same fields
MLRG and SPGP on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About MLRG
MLRG tracks an index. Over the year to Oct 20, 2026 it returned +15.5% with distributions reinvested, against +15.4% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 19, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 515 positions, with the top ten at 37.8%.
About SPGP
SPGP tracks an index. Over the year to Oct 20, 2026 it returned +10.0% with distributions reinvested, against +15.9% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.34% a year. By its holdings published by its issuer for Oct 19, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 76 positions, with the top ten at 20.4%. It sat 4.0% below its high of Aug 13, 2026 on Oct 20, 2026.
Questions people ask
- Which returned more over the last year, MLRG or SPGP?
- In the year to Oct 20, 2026, with distributions reinvested, MLRG returned +15.5% and SPGP +10.0%.
- Which is cheaper, MLRG or SPGP?
- MLRG is cheaper, by 0.31 percentage points a year. That is about $31 on $10,000 held for a year. Fees come from each fund's prospectus.
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, MLRG against SPGP, data as of Oct 20, 2026. https://etfiq.com/compare/any/mlrg-vs-spgp
ETFIQ. (Oct 20, 2026). MLRG against SPGP. Retrieved from https://etfiq.com/compare/any/mlrg-vs-spgp
[MLRG against SPGP (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/mlrg-vs-spgp)
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