SPY vs. IVV
Compare and contrast key facts about SPDR S&P 500 ETF (SPY) and iShares Core S&P 500 ETF (IVV).
SPY and IVV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. IVV is a passively managed fund by iShares that tracks the performance of the S&P 500 Index. It was launched on May 15, 2000. Both SPY and IVV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPY or IVV.
Performance
SPY vs. IVV - Performance Comparison
Returns By Period
The year-to-date returns for both investments are quite close, with SPY having a 26.08% return and IVV slightly higher at 26.56%. Both investments have delivered pretty close results over the past 10 years, with SPY having a 13.10% annualized return and IVV not far ahead at 13.20%.
SPY
26.08%
1.77%
13.59%
32.24%
15.62%
13.10%
IVV
26.56%
3.04%
13.24%
32.78%
15.74%
13.20%
Key characteristics
| SPY | IVV | |
|---|---|---|
| Sharpe Ratio | 2.70 | 2.70 |
| Sortino Ratio | 3.60 | 3.60 |
| Omega Ratio | 1.50 | 1.50 |
| Calmar Ratio | 3.90 | 3.90 |
| Martin Ratio | 17.52 | 17.52 |
| Ulcer Index | 1.87% | 1.87% |
| Daily Std Dev | 12.14% | 12.16% |
| Max Drawdown | -55.19% | -55.25% |
| Current Drawdown | -0.85% | -0.52% |
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SPY vs. IVV - Expense Ratio Comparison
SPY has a 0.09% expense ratio, which is higher than IVV's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Correlation
The correlation between SPY and IVV is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
SPY vs. IVV - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 500 ETF (SPY) and iShares Core S&P 500 ETF (IVV). 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.
Dividends
SPY vs. IVV - Dividend Comparison
SPY's dividend yield for the trailing twelve months is around 1.18%, less than IVV's 1.24% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY SPDR S&P 500 ETF | 1.18% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
IVV iShares Core S&P 500 ETF | 1.24% | 1.44% | 1.66% | 1.20% | 1.57% | 1.99% | 2.21% | 1.75% | 2.01% | 2.27% | 1.83% | 1.80% |
Drawdowns
SPY vs. IVV - Drawdown Comparison
The maximum SPY drawdown since its inception was -55.19%, roughly equal to the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for SPY and IVV. For additional features, visit the drawdowns tool.
Volatility
SPY vs. IVV - Volatility Comparison
SPDR S&P 500 ETF (SPY) and iShares Core S&P 500 ETF (IVV) have volatilities of 3.98% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.