XVV vs. SPY

Last updated Jun 4, 2026

XVV (iShares ESG Screened S&P 500 ETF) and SPY (State Street SPDR S&P 500 ETF) are both S&P 500 funds - XVV tracks the S&P 500 Sustainablility Screened Index while SPY tracks the S&P 500 Index. Both are passively managed. Over the past 5 years, XVV returned 13.55%/yr vs 13.83%/yr for SPY. With a 0.98 correlation, they move nearly in lockstep. XVV charges 0.08%/yr vs 0.09%/yr for SPY.

Performance

XVV vs. SPY - Performance Comparison

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

Returns By Period

In the year-to-date period, XVV achieves a 9.37% return, which is significantly lower than SPY's 10.91% return.

XVV

• 1D: -0.86%
• 1M: 4.81%
• YTD: 9.37%
• 6M: 9.29%
• 1Y: 26.65%
• 3Y*: 22.30%
• 5Y*: 13.55%
• 10Y*: —

SPY

• 1D: -0.70%
• 1M: 5.05%
• YTD: 10.91%
• 6M: 10.91%
• 1Y: 27.98%
• 3Y*: 22.35%
• 5Y*: 13.83%
• 10Y*: 15.49%

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

XVV vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XVV iShares ESG Screened S&P 500 ETF	9.37%	17.53%	25.87%	29.78%	-21.46%	29.19%	16.13%
SPY State Street SPDR S&P 500 ETF	10.91%	17.72%	24.89%	26.18%	-18.18%	28.73%	16.07%

Correlation

The correlation between XVV and SPY is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020	0.98

The correlation between XVV and SPY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

XVV vs. SPY - Sectors Allocation Comparison

Sectors	XVV	SPY
Technology	37.5%	35.9%
Financial Services	13.2%	11.8%
Communication Services	12.5%	11.3%
Consumer Cyclical	11.2%	10.3%
Healthcare	8.5%	8.4%
Industrials	6.8%	7.8%
Consumer Defensive	3.7%	4.8%
Real Estate	2.1%	1.9%
Basic Materials	2.0%	1.8%
Utilities	1.3%	2.4%
Energy	1.2%	3.6%

Return for Risk

XVV vs. SPY — Risk / Return Rank

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

XVV

XVV Risk / Return Rank: 59
XVV Sharpe Ratio Rank: 62
XVV Sortino Ratio Rank: 60
XVV Omega Ratio Rank: 61
XVV Calmar Ratio Rank: 50
XVV Martin Ratio Rank: 61

SPY

SPY Risk / Return Rank: 70
SPY Sharpe Ratio Rank: 71
SPY Sortino Ratio Rank: 69
SPY Omega Ratio Rank: 70
SPY Calmar Ratio Rank: 62
SPY Martin Ratio Rank: 75

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.

XVV vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Screened S&P 500 ETF (XVV) 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.

	XVV	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.38	-0.26
Sortino ratio: Return per unit of downside risk	2.89	3.24	-0.35
Omega ratio: Gain probability vs. loss probability	1.38	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	2.53	3.16	-0.63
Martin ratio: Return relative to average drawdown	11.18	14.72	-3.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XVV vs. SPY - Sharpe Ratio Comparison

The current XVV Sharpe Ratio is 2.11, which is comparable to the SPY Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of XVV and SPY, 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

	XVV	SPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.38	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.82	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.59	+0.41

Drawdowns

XVV vs. SPY - Drawdown Comparison

The maximum XVV drawdown since its inception was -27.20%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for XVV and SPY.

Drawdown Indicators

	XVV	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-27.20%	-55.19%	+27.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.59%	-8.88%	-1.71%
Max Drawdown (3Y) Largest decline over 3 years	-19.59%	-18.76%	-0.83%
Max Drawdown (5Y) Largest decline over 5 years	-27.20%	-24.50%	-2.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.86%	-0.70%	-0.16%
Average Drawdown Average peak-to-trough decline	-5.88%	-9.05%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	1.91%	+0.48%

Volatility

XVV vs. SPY - Volatility Comparison

iShares ESG Screened S&P 500 ETF (XVV) has a higher volatility of 3.09% compared to State Street SPDR S&P 500 ETF (SPY) at 2.84%. This indicates that XVV'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.

Volatility by Period

	XVV	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	2.84%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	9.62%	8.90%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	11.83%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	17.05%	+0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	17.94%	-0.59%

XVV vs. SPY - Expense Ratio Comparison

XVV has a 0.08% expense ratio, which is lower than SPY's 0.09% 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

XVV vs. SPY - Dividend Comparison

XVV's dividend yield for the trailing twelve months is around 0.88%, less than SPY's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XVV iShares ESG Screened S&P 500 ETF	0.88%	0.94%	1.05%	1.25%	1.57%	0.81%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XVV and SPY in my portfolio?

With a correlation of 0.98, XVV and SPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XVV or SPY?

XVV has higher volatility (3.09%) compared to SPY (2.84%). In terms of maximum drawdown, XVV dropped -27.20% vs SPY's -55.19%.

Which ETF is better, XVV or SPY?

On 5-year performance, SPY leads with 13.83% vs 13.55% for XVV. On fees, XVV is cheaper at 0.08% per year. On volatility, SPY has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XVV or SPY?

Over the 5-year period, SPY has performed better with a 13.83% return vs 13.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XVV or SPY?

XVV is cheaper with a 0.08% expense ratio, compared with 0.09% for SPY.

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

SPY has the higher dividend yield at 0.98%, compared with 0.88% for XVV.

What is the main difference between XVV and SPY?

XVV tracks S&P 500 Sustainablility Screened Index, while SPY tracks S&P 500 Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.08% for XVV and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.38 vs 2.11), 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.