Looking for broad exposure to the Large Cap Growth segment of the US equity market? You should consider the SPDR Portfolio S&P 500 Growth ETF (SPYG), a passively managed exchange traded fund launched on 09/25/2000.

The fund is sponsored by State Street Global Advisors. It has amassed assets over $34.26 billion, making it one of the largest ETFs attempting to match the Large Cap Growth segment of the US equity market.

Why Large Cap Growth

Companies that fall in the large cap category tend to have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.

While growth stocks do boast higher than average sales and earnings growth rates, and they are expected to grow faster than the wider market, investors should note these kinds of stocks have higher valuations. Something to keep in mind is the higher level of volatility that is affiliated with growth stocks. When you consider growth versus value, growth stocks are usually the clear winner in strong bull markets but tend to fall flat in nearly all other environments.

Costs

When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.

Annual operating expenses for this ETF are 0.04%, making it the least expensive products in the space.

It has a 12-month trailing dividend yield of 0.61%.

Sector Exposure and Top Holdings

Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Information Technology sector--about 39.10% of the portfolio. Telecom and Consumer Discretionary round out the top three.

Looking at individual holdings, Nvidia Corp (NVDA) accounts for about 11.62% of total assets, followed by Microsoft Corp (MSFT) and Apple Inc (AAPL).

The top 10 holdings account for about 49.38% of total assets under management.

Performance and Risk

SPYG seeks to match the performance of the S&P 500 Growth Index before fees and expenses. The S&P 500 Growth Index measures the performance of the large-capitalization growth sector in the U.S. equity market.

The ETF return is roughly 0.53% so far this year and is up about 17.62% in the last one year (as of 05/22/2025). In the past 52-week period, it has traded between $71.83 and $92.39.