IAK vs SPY
iShares US Insurance ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IAK or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. IAK led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 66.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IAK | SPY |
|---|---|---|
| Expense Ratio | 0.37% | 0.09%Best |
| AUM | $511M | $804.7B |
| Dividend Yield | 2.48% | 0.98% |
| Holdings | 61 | 505 |
| YTD Return | +8.66% | +12.22%Best |
| 1Y Return | +12.86% | +16.97%Best |
| 3Y Return (annualized) | +17.53% | +21.16%Best |
| 5Y Return (annualized) | +14.80%Best | +13.00% |
| Volatility (annualized) | 20.3% | 15.2%Best |
| Max Drawdown | -78.0% | -56.5%Best |
| $10,000 over 5 years | $19,939Best | $18,424 |
| Top 10 Weight | 66.8% | 37.8%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | May 1, 2006 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 5, 2006 to Sep 17, 2026 (20.4 years).
IAK vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.4 years both funds cover.
IAK vs SPY Performance
iShares US Insurance ETF (IAK) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IAK returned +12.86% while SPY returned +16.97%. Year to date, IAK is up 8.66% versus a gain of 12.22% for SPY.
Over three years, IAK compounded at +17.53% per year against +21.16% for SPY; over five years the annualized figures are +14.80% and +13.00% respectively. Across the full 20-year window we track, SPY has the edge at +9.37% annualized vs +5.87%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IAK has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 15.2% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -78.0% for IAK and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IAK charges 0.37% per year while SPY charges 0.09%. On a $10,000 position that is $37 vs $9 annually, a gap of $28 per year that compounds over a long holding period. On income, IAK currently yields 2.48% against 0.98% for SPY.
Holdings Overlap
79.8% of IAK's money is in holdings SPY also owns. 1.2% of SPY's money is in holdings IAK also owns.
Most of IAK is already inside SPY. Owning both mostly buys the same companies twice.
17 positions in common, counted across the 58 positions we hold weights for in IAK and 504 in SPY, against full books of 61 and 505.
What only one of them owns
Measured across the 58 and 504 positions we hold weights for.
SPY holds 480 positions IAK does not, 98.2% of the fund.
Largest: NVDA 8.01%, AAPL 7.26%, MSFT 5.66%, AMZN 3.79%, GOOGL 2.99%
Top Shared Holdings
| Stock | Weight in IAK | Weight in SPY | Difference |
|---|---|---|---|
| PGRProgressive Corporation | 13.46% | 0.20% | 13.26% |
| CBChubb Ltd Common Stock Usd 24.15 | 12.77% | 0.19% | 12.58% |
| TRVThe Travelers Cos, Inc. | 8.08% | 0.12% | 7.96% |
| ALLAllstate Corp. | 6.93% | 0.10% | 6.83% |
| METMetlife Inc. | 4.61% | 0.08% | 4.53% |
| PRUPrudential Financial Inc | 4.43% | 0.06% | 4.37% |
| AFLAflac Inc. | 4.39% | 0.08% | 4.31% |
| AIGAmerican International Gr | 4.26% | 0.06% | 4.20% |
| HIGHartford Financial Services Group Inc. | 4.09% | 0.06% | 4.03% |
| ACGLArch Capital Group Ltd 5.450% | 3.74% | 0.05% | 3.69% |
79.8% of IAK is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IAK or SPY?
IAK has an expense ratio of 0.37% while SPY charges 0.09%. SPY is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, IAK or SPY?
Over the past year IAK returned +12.86% vs +16.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (20 years), IAK annualized +5.87% vs +9.37% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IAK or SPY?
IAK has been the more volatile fund at 20.3% annualized versus 15.2% for SPY. Worst drawdown: IAK -78.0% vs SPY -56.5%.
Should I hold both IAK and SPY?
IAK and SPY have a monthly-return correlation of 0.78, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IAK and SPY?
79.8% of IAK's money is in holdings SPY also owns. 1.2% of SPY's is in holdings IAK also owns. They hold 17 positions in common, counted across the 58 positions we hold weights for in IAK and 504 in SPY.
Which pays a higher dividend, IAK or SPY?
IAK yields 2.48% while SPY yields 0.98%, so IAK currently pays the higher dividend yield.
Is SPY better than IAK?
SPY has a lower expense ratio. IAK led over 5Y, SPY over 1Y, 3Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 66.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.