ICF vs. SPYV
ICF (iShares Cohen & Steers REIT ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - ICF is a REIT fund tracking the Cohen & Steers Realty Majors Index, while SPYV is a S&P 500 fund tracking the S&P 500 Value Index. Both are passively managed. Over the past 10 years, ICF returned 5.99%/yr vs 12.08%/yr for SPYV. A 0.60 correlation means they provide meaningful diversification when combined. ICF charges 0.34%/yr vs 0.04%/yr for SPYV.
Performance
ICF vs. SPYV - Performance Comparison
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Returns By Period
In the year-to-date period, ICF achieves a 16.93% return, which is significantly higher than SPYV's 8.25% return. Over the past 10 years, ICF has underperformed SPYV with an annualized return of 5.99%, while SPYV has yielded a comparatively higher 12.08% annualized return.
ICF
- 1D
- 0.96%
- 1M
- 3.62%
- YTD
- 16.93%
- 6M
- 17.09%
- 1Y
- 15.91%
- 3Y*
- 11.06%
- 5Y*
- 3.38%
- 10Y*
- 5.99%
SPYV
- 1D
- 0.69%
- 1M
- 1.59%
- YTD
- 8.25%
- 6M
- 8.02%
- 1Y
- 21.87%
- 3Y*
- 15.13%
- 5Y*
- 10.98%
- 10Y*
- 12.08%
ICF vs. SPYV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 16.93% | 1.85% | 5.30% | 10.36% | -26.12% | 44.17% | -5.43% | 25.48% | -2.55% | 4.90% |
SPYV SPDR Portfolio S&P 500 Value ETF | 8.25% | 13.18% | 12.24% | 22.20% | -5.28% | 24.91% | 1.38% | 31.70% | -9.01% | 15.40% |
Correlation
The correlation between ICF and SPYV is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2001 | 0.60 |
The correlation between ICF and SPYV shifts across timeframes, from 0.53 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ICF vs. SPYV — Risk / Return Rank
ICF
SPYV
ICF vs. SPYV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Cohen & Steers REIT ETF (ICF) and SPDR Portfolio S&P 500 Value ETF (SPYV). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ICF | SPYV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.37 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 3.33 | -1.51 |
| Martin ratioReturn relative to average drawdown | 5.18 | 12.73 | -7.55 |
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Drawdowns
ICF vs. SPYV - Drawdown Comparison
The maximum ICF drawdown since its inception was -76.74%, which is greater than SPYV's maximum drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for ICF and SPYV.
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Drawdown Indicators
| ICF | SPYV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -58.45% | -18.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -6.22% | -1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -17.25% | -17.54% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -34.74% | -17.89% | -16.85% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -36.89% | -3.33% |
Current DrawdownCurrent decline from peak | 0.00% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -14.16% | -8.71% | -5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 1.63% | +1.26% |
Volatility
ICF vs. SPYV - Volatility Comparison
iShares Cohen & Steers REIT ETF (ICF) has a higher volatility of 4.74% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 2.70%. This indicates that ICF's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICF | SPYV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.74% | 2.70% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 7.26% | +3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 9.97% | +3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 14.42% | +4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.60% | 16.94% | +3.66% |
ICF vs. SPYV - Expense Ratio Comparison
ICF has a 0.34% expense ratio, which is higher than SPYV's 0.04% expense ratio.
Dividends
ICF vs. SPYV - Dividend Comparison
ICF's dividend yield for the trailing twelve months is around 2.38%, more than SPYV's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICF iShares Cohen & Steers REIT ETF | 2.38% | 2.88% | 2.66% | 2.76% | 2.64% | 1.82% | 2.38% | 2.55% | 3.20% | 3.10% | 4.21% | 3.30% |
SPYV SPDR Portfolio S&P 500 Value ETF | 1.68% | 1.77% | 2.29% | 1.75% | 2.22% | 2.10% | 2.38% | 2.25% | 2.97% | 2.77% | 2.39% | 2.53% |
Frequently Asked Questions
ICF and SPYV have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICF has higher volatility (4.74%) compared to SPYV (2.70%). In terms of maximum drawdown, ICF dropped -76.74% vs SPYV's -58.45%.
On 10-year performance, SPYV leads with 12.08% vs 5.99% for ICF. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYV has performed better with a 12.08% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYV is cheaper with a 0.04% expense ratio, compared with 0.34% for ICF.
ICF has the higher dividend yield at 2.38%, compared with 1.68% for SPYV.
ICF is categorized as REIT, while SPYV is S&P 500. ICF tracks Cohen & Steers Realty Majors Index, while SPYV tracks S&P 500 Value Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.34% for ICF and 0.04% for SPYV.
SPYV currently has the higher Sharpe Ratio (2.08 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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