Data as of Oct 28, 2026.
SPY vs VIG: Differences, Returns & Fees
Over the year to Oct 28, 2026, SPY returned +13.6% to VIG's +13.9%; 41% of their weight is in the same names.
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Net assets: $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust, and $109.1bn on Sep 30, 2026 for Vanguard Div Appreciation ETF.
Pair scorecard
VIG costs 0.05 points a year less; their one-year returns differ by 0.3 points; SPY is 7.4 times larger.
| Measure | SPY | VIG |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.6% | +13.9% |
| Benchmark | ||
| What it tracks | S&P 500 Index | S&P U.S. Dividend Growers Index |
| Cost and size | ||
| Expense ratio | 0.09% | 0.04% |
| Net assets, as of Sep 30, 2026 | $809.2bn | $109.1bn |
| Holdings | ||
| Holdings in common | 41% | |
| Top ten holdings, share of the fund | 38.1% | 34.5% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
May 5, 2006 to Oct 23, 2026 · 1,068 weekly returnsSPY returned more: +734.5% to +619.3%. VIG swung less: 15.7% to 17.8%. VIG fell less at its worst: −45.9% to −54.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | SPY | VIG | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +734.5% | +619.3% | SPY | Price change plus distributions, reinvested. |
| Annualized | +10.9% | +10.1% | SPY (slight) | Total return as a yearly rate. |
| Price return | +473.5% | +379.5% | SPY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 17.8% | 15.7% | VIG | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.6% | 11.0% | VIG | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.6% | −45.9% | VIG | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.57 | 0.58 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.81 | 0.83 | VIG (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.20 | 0.22 | VIG (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,068 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SPY and VIG hold 41% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
41% in common
Only in one fund ↓
Side by side
SPY and VIG on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SPY and VIG are built for the same job. How do they differ in cost, holdings and results?
- What each follows. SPY follows S&P 500 Index and VIG follows S&P U.S. Dividend Growers Index.
- Holdings in common. 41% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- Size. SPY has $809.2bn in net assets and VIG $109.1bn (net assets, as of Sep 30, 2026); SPY is 7.4 times larger.
Data as of Oct 28, 2026.
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SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
VIG
VIG tracks an index of Dividend growth. Over the year to Oct 28, 2026 it returned +13.9% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer as of Sep 30, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 335 positions, with the top ten at 34.5%.
Questions people ask
- Which returned more over the last year, SPY or VIG?
- In the year to Oct 28, 2026, with distributions reinvested, SPY returned +13.6% and VIG +13.9%.
- Which is cheaper, SPY or VIG?
- VIG is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. 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, SPY against VIG, data as of Oct 28, 2026. https://etfiq.com/compare/any/spy-vs-vig
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[SPY against VIG (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/spy-vs-vig)
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