IAPR vs SPY
Innovator International Developed Power Buffer ETF - April vs State Street SPDR S&P 500 ETF Trust
Which is better, IAPR or SPY?
Option Writing against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | IAPR | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $201M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 12 | 505 |
| YTD Return | +9.93% | +12.47%Best |
| 1Y Return | +13.42% | +17.51%Best |
| 3Y Return (annualized) | +11.50% | +21.18%Best |
| 5Y Return (annualized) | +5.52% | +12.88%Best |
| Volatility (annualized) | 8.0%Best | 15.3% |
| Max Drawdown | -17.7%Best | -24.5% |
| $10,000 over 5 years | $13,082 | $18,327Best |
| Fund Family | Innovator ETFs Trust | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | Mar 31, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 1, 2021 to Sep 11, 2026 (5.4 years).
IAPR 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 5.4 years both funds cover.
IAPR vs SPY Performance
Innovator International Developed Power Buffer ETF - April (IAPR) is an ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IAPR returned +13.42% while SPY returned +17.51%. Year to date, IAPR is up 9.93% versus a gain of 12.47% for SPY.
Over three years, IAPR compounded at +11.50% per year against +21.18% for SPY; over five years the annualized figures are +5.52% and +12.88% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.0% for IAPR. 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 -17.7% for IAPR and -24.5% 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IAPR charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, IAPR currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of IAPR and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IAPR or SPY?
IAPR has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, IAPR or SPY?
Over the past year IAPR returned +13.42% vs +17.51% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IAPR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.0% for IAPR. Worst drawdown: IAPR -17.7% vs SPY -24.5%.
Should I hold both IAPR and SPY?
IAPR and SPY have a monthly-return correlation of 0.77, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, IAPR or SPY?
IAPR yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than IAPR?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.