IAPR vs SPY
Innovator International Developed Power Buffer ETF - April vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IAPR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $203M | $821.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +10.37% | +12.68% | |
| 1Y Return | +14.72% | +21.82% | |
| 3Y Return (annualized) | +12.02% | +21.98% | |
| 5Y Return (annualized) | +5.75% | +12.89% | |
| Volatility (annualized) | 8.1% | 15.3% | |
| Max Drawdown | -17.7% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 31, 2021 | Jan 22, 1993 |
IAPR vs SPY Performance
Innovator International Developed Power Buffer ETF - April (IAPR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IAPR returned +14.72% while SPY returned +21.82%. Year to date, IAPR is up 10.37% versus a gain of 12.68% for SPY.
Over three years, IAPR compounded at +12.02% per year against +21.98% for SPY; over five years the annualized figures are +5.75% and +12.89% respectively. Across the full 5-year window we track, SPY has the edge at +8.81% annualized vs +5.82%. 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 8.1% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 1.01% for SPY.
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. On a $10,000 investment, that is $76 per year of difference.
Which performed better, IAPR or SPY?
Over the past year IAPR returned +14.72% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), IAPR annualized +5.82% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, IAPR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.1% for IAPR. Worst drawdown: IAPR -17.7% vs SPY -56.5%.
Should I hold both IAPR and SPY?
IAPR and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IAPR or SPY?
IAPR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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