IVV vs. SPYD

Last updated Jun 4, 2026

IVV (iShares Core S&P 500 ETF) and SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) are both S&P 500 funds - IVV tracks the S&P 500 Index while SPYD tracks the S&P 500 High Dividend Index. Both are passively managed. Over the past 10 years, IVV returned 15.54%/yr vs 8.59%/yr for SPYD. A 0.67 correlation means they provide meaningful diversification when combined. IVV charges 0.03%/yr vs 0.07%/yr for SPYD.

Performance

IVV vs. SPYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P 500 ETF (IVV) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with IVV having a 10.85% return and SPYD slightly lower at 10.34%. Over the past 10 years, IVV has outperformed SPYD with an annualized return of 15.54%, while SPYD has yielded a comparatively lower 8.59% annualized return.

IVV

• 1D: -0.76%
• 1M: 4.97%
• YTD: 10.85%
• 6M: 10.87%
• 1Y: 28.00%
• 3Y*: 22.43%
• 5Y*: 13.88%
• 10Y*: 15.54%

SPYD

• 1D: -0.44%
• 1M: 1.57%
• YTD: 10.34%
• 6M: 10.97%
• 1Y: 16.38%
• 3Y*: 14.37%
• 5Y*: 6.76%
• 10Y*: 8.59%

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

IVV vs. SPYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVV iShares Core S&P 500 ETF	10.85%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	10.34%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%

Correlation

The correlation between IVV and SPYD is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 23, 2015	0.67

Over the past year, the correlation between IVV and SPYD has dropped to 0.37 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

IVV vs. SPYD - Sectors Allocation Comparison

Sectors	IVV	SPYD
Technology	35.6%	2.7%
Financial Services	11.8%	12.1%
Communication Services	11.2%	5.1%
Consumer Cyclical	10.1%	6.5%
Healthcare	8.5%	5.2%
Industrials	8.3%	2.3%
Consumer Defensive	4.9%	16.3%
Energy	3.5%	9.2%
Utilities	2.4%	11.4%
Real Estate	1.9%	25.8%
Basic Materials	1.8%	3.4%

Return for Risk

IVV vs. SPYD — Risk / Return Rank

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

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 70
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

SPYD

SPYD Risk / Return Rank: 41
SPYD Sharpe Ratio Rank: 39
SPYD Sortino Ratio Rank: 42
SPYD Omega Ratio Rank: 36
SPYD Calmar Ratio Rank: 46
SPYD Martin Ratio Rank: 41

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.

IVV vs. SPYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 ETF (IVV) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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.

	IVV	SPYD	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.42	+0.97
Sortino ratio: Return per unit of downside risk	3.25	2.15	+1.10
Omega ratio: Gain probability vs. loss probability	1.43	1.24	+0.19
Calmar ratio: Return relative to maximum drawdown	3.17	2.33	+0.83
Martin ratio: Return relative to average drawdown	14.71	6.77	+7.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVV vs. SPYD - Sharpe Ratio Comparison

The current IVV Sharpe Ratio is 2.39, which is higher than the SPYD Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of IVV and SPYD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVV	SPYD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.42	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.42	+0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.44	+0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.47	-0.01

Drawdowns

IVV vs. SPYD - Drawdown Comparison

The maximum IVV drawdown since its inception was -55.25%, which is greater than SPYD's maximum drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for IVV and SPYD.

Drawdown Indicators

	IVV	SPYD	Difference
Max Drawdown Largest peak-to-trough decline	-55.25%	-46.42%	-8.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-7.05%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-18.75%	-16.13%	-2.62%
Max Drawdown (5Y) Largest decline over 5 years	-24.53%	-22.25%	-2.28%
Max Drawdown (10Y) Largest decline over 10 years	-33.90%	-46.42%	+12.52%
Current Drawdown Current decline from peak	-0.76%	-1.11%	+0.35%
Average Drawdown Average peak-to-trough decline	-10.78%	-6.17%	-4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.43%	-0.52%

Volatility

IVV vs. SPYD - Volatility Comparison

iShares Core S&P 500 ETF (IVV) has a higher volatility of 2.87% compared to State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 2.57%. This indicates that IVV's price experiences larger fluctuations and is considered to be riskier than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVV	SPYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	2.57%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	8.90%	7.71%	+1.19%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	11.62%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.88%	16.13%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	19.78%	-1.73%

IVV vs. SPYD - Expense Ratio Comparison

IVV has a 0.03% expense ratio, which is lower than SPYD's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IVV vs. SPYD - Dividend Comparison

IVV's dividend yield for the trailing twelve months is around 1.06%, less than SPYD's 4.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.21%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

Can I hold both IVV and SPYD in my portfolio?

IVV and SPYD have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVV or SPYD?

IVV has higher volatility (2.87%) compared to SPYD (2.57%). In terms of maximum drawdown, IVV dropped -55.25% vs SPYD's -46.42%.

Which ETF is better, IVV or SPYD?

On 10-year performance, IVV leads with 15.54% vs 8.59% for SPYD. On fees, IVV is cheaper at 0.03% per year. On volatility, SPYD has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVV or SPYD?

Over the 10-year period, IVV has performed better with a 15.54% return vs 8.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVV or SPYD?

IVV is cheaper with a 0.03% expense ratio, compared with 0.07% for SPYD.

Which ETF pays a higher dividend yield, IVV or SPYD?

SPYD has the higher dividend yield at 4.21%, compared with 1.06% for IVV.

What is the main difference between IVV and SPYD?

IVV tracks S&P 500 Index, while SPYD tracks S&P 500 High Dividend Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.03% for IVV and 0.07% for SPYD.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.39 vs 1.42), 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.