CIE.NEO vs. SPY
CIE.NEO (iShares International Fundamental Common Class) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - CIE.NEO is a Global Equities fund tracking the FTSE RAFI Developed ex US 1000 Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CIE.NEO returned 11.89%/yr vs 16.36%/yr for SPY. A 0.55 correlation means they provide meaningful diversification when combined. CIE.NEO charges 0.73%/yr vs 0.09%/yr for SPY.
Performance
CIE.NEO vs. SPY - Performance Comparison
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Different Trading Currencies
CIE.NEO is traded in CAD, while SPY is traded in USD. To make them comparable, the SPY values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, CIE.NEO achieves a 17.83% return, which is significantly higher than SPY's 12.65% return. Over the past 10 years, CIE.NEO has underperformed SPY with an annualized return of 11.89%, while SPY has yielded a comparatively higher 16.36% annualized return.
CIE.NEO
- 1D
- -0.39%
- 1M
- 6.26%
- YTD
- 17.83%
- 6M
- 19.92%
- 1Y
- 39.49%
- 3Y*
- 25.09%
- 5Y*
- 15.50%
- 10Y*
- 11.89%
SPY
- 1D
- 0.00%
- 1M
- 7.46%
- YTD
- 12.65%
- 6M
- 10.82%
- 1Y
- 30.02%
- 3Y*
- 23.90%
- 5Y*
- 17.15%
- 10Y*
- 16.36%
CIE.NEO vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 17.83% | 34.92% | 12.83% | 15.59% | -2.83% | 14.42% | 1.33% | 11.29% | -8.19% | 16.74% |
SPY State Street SPDR S&P 500 ETF | 12.32% | 12.32% | 35.62% | 23.40% | -12.34% | 27.57% | 16.33% | 24.77% | 3.52% | 13.96% |
Correlation
The correlation between CIE.NEO and SPY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2009 | 0.55 |
The correlation between CIE.NEO and SPY has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
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Return for Risk
CIE.NEO vs. SPY — Risk / Return Rank
CIE.NEO
SPY
CIE.NEO vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares International Fundamental Common Class (CIE.NEO) and State Street SPDR S&P 500 ETF (SPY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CIE.NEO | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.49 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 3.50 | +0.08 |
| Martin ratioReturn relative to average drawdown | 14.78 | 13.31 | +1.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIE.NEO | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 2.59 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.13 | 1.14 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 1.01 | -0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 1.13 | -0.70 |
Drawdowns
CIE.NEO vs. SPY - Drawdown Comparison
The maximum CIE.NEO drawdown since its inception was -40.08%, which is greater than SPY's maximum drawdown of -27.34%. Use the drawdown chart below to compare losses from any high point for CIE.NEO and SPY.
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Drawdown Indicators
| CIE.NEO | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.08% | -27.34% | -12.74% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -8.62% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -15.44% | -19.00% | +3.56% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -22.08% | +1.53% |
Max Drawdown (10Y)Largest decline over 10 years | -40.08% | -27.34% | -12.74% |
Current DrawdownCurrent decline from peak | -0.39% | 0.00% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -3.21% | -3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.26% | +0.42% |
Volatility
CIE.NEO vs. SPY - Volatility Comparison
iShares International Fundamental Common Class (CIE.NEO) has a higher volatility of 4.85% compared to State Street SPDR S&P 500 ETF (SPY) at 2.61%. This indicates that CIE.NEO's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIE.NEO | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.85% | 2.61% | +2.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.56% | 8.79% | +2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.95% | 11.66% | +2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 15.15% | -1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 16.19% | +2.00% |
CIE.NEO vs. SPY - Expense Ratio Comparison
CIE.NEO has a 0.73% expense ratio, which is higher than SPY's 0.09% expense ratio.
Dividends
CIE.NEO vs. SPY - Dividend Comparison
CIE.NEO's dividend yield for the trailing twelve months is around 2.12%, more than SPY's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIE.NEO iShares International Fundamental Common Class | 2.12% | 2.53% | 2.82% | 3.08% | 3.32% | 2.89% | 2.15% | 3.63% | 3.12% | 2.67% | 2.80% | 2.44% |
SPY State Street SPDR S&P 500 ETF | 0.98% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
CIE.NEO and SPY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY is cheaper with a 0.09% expense ratio, compared with 0.73% for CIE.NEO.
CIE.NEO is categorized as Global Equities, while SPY is S&P 500. CIE.NEO tracks FTSE RAFI Developed ex US 1000 Index, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.73% for CIE.NEO and 0.09% for SPY.
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