IVRA vs. SPY

Last updated Jul 14, 2026

IVRA (Invesco Real Assets ESG ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - IVRA is a ESG fund actively managed by Invesco, while SPY is a S&P 500 fund tracking the S&P 500 Index. IVRA is actively managed, while SPY is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. IVRA charges 0.59%/yr vs 0.09%/yr for SPY.

Performance

IVRA vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Real Assets ESG ETF (IVRA) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IVRA

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPY

• 1D: -0.77%
• 1M: 1.26%
• 6M: 8.34%
• YTD: 10.45%
• 1Y: 21.46%
• 3Y*: 20.07%
• 5Y*: 12.94%
• 10Y*: 15.08%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IVRA vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IVRA Invesco Real Assets ESG ETF	11.70%	10.20%	13.07%	9.13%	-10.00%	32.74%	1.28%
SPY State Street SPDR S&P 500 ETF	10.45%	17.72%	24.89%	26.18%	-18.18%	28.73%	1.64%

Correlation

The correlation between IVRA and SPY is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 22, 2020	0.59

Over the past year, the correlation between IVRA and SPY has dropped to 0.14 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

IVRA vs. SPY - Sectors Allocation Comparison

Sectors	IVRA	SPY
Real Estate	46.8%	1.8%
Energy	23.5%	3.1%
Basic Materials	14.3%	1.7%
Utilities	10.3%	2.1%
Consumer Cyclical	2.6%	9.9%
Consumer Defensive	1.7%	4.5%
Financial Services	0.7%	11.1%
Communication Services	-	10.6%
Healthcare	-	8.3%
Industrials	-	7.8%
Technology	-	39.0%

Return for Risk

IVRA vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IVRA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPY

SPY Risk / Return Rank: 66
SPY Sharpe Ratio Rank: 66
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 61
SPY Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IVRA vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Real Assets ESG ETF (IVRA) 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.

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.

	IVRA	SPY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.71	—
Sortino ratio: Return per unit of downside risk	—	2.37	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.43	—
Martin ratio: Return relative to average drawdown	—	10.57	—

Drawdowns

Drawdown Indicators

	IVRA	SPY	Difference
Max Drawdown Largest peak-to-trough decline	—	-55.19%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	—	-1.12%	—
Average Drawdown Average peak-to-trough decline	—	-9.02%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.03%	—

Volatility

Volatility by Period

	IVRA	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.01%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.60%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.17%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.93%	—

IVRA vs. SPY - Expense Ratio Comparison

IVRA has a 0.59% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

IVRA vs. SPY - Dividend Comparison

IVRA has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVRA Invesco Real Assets ESG ETF	16.80%	5.68%	3.71%	2.47%	2.30%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.00%	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

Can I hold both IVRA and SPY in my portfolio?

IVRA and SPY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVRA or SPY?

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.

Which ETF is cheaper, IVRA or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.59% for IVRA.

Which ETF pays a higher dividend yield, IVRA or SPY?

IVRA has the higher dividend yield at 16.80%, compared with 1.00% for SPY.

What is the main difference between IVRA and SPY?

IVRA is categorized as ESG, while SPY is S&P 500. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.59% for IVRA and 0.09% for SPY.