MGK vs. SPY: Higher Growth Comes With Higher Concentration Risk
The comparison centers on broad S&P 500 coverage versus a concentrated mega‑cap growth tilt with sharper drawdowns.
Overview
- MGK has outpaced SPY on recent total returns, including the 1‑year period to Jan. 30, 2026 and over five years.
- MGK holds just 69 stocks with a heavy tech tilt, and its top three positions—NVIDIA, Apple and Microsoft—account for over one‑third of assets.
- Five‑year maximum drawdowns show the risk tradeoff, with MGK down 36.01% at worst versus SPY’s 24.49%.
- SPY spreads exposure across 503 S&P 500 constituents and delivers a higher dividend yield at 1.0% versus MGK’s 0.4%.
- Costs are similar at 0.09% for SPY and 0.07% for MGK, while assets under management diverge sharply at $713.5 billion versus $32.5 billion.