IBGA vs SPY
iShares iBonds Dec 2044 Term Treasury ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IBGA has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IBGA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.09% | |
| AUM | $103M | $821.1B | |
| Dividend Yield | 4.77% | 1.01% | |
| Holdings | 9 | 505 | |
| YTD Return | -2.37% | +14.24% | |
| 1Y Return | +0.07% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 8.8% | 15.3% | |
| Max Drawdown | -11.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Jun 11, 2024 | Jan 22, 1993 |
IBGA vs SPY Performance
iShares iBonds Dec 2044 Term Treasury ETF (IBGA) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IBGA returned +0.07% while SPY returned +21.71%. Year to date, IBGA is down 2.37% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 8.8% for IBGA. 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 -11.1% for IBGA 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 0.23. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IBGA charges 0.07% per year while SPY charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, IBGA currently yields 4.77% against 1.01% for SPY.
Holdings Overlap
IBGA and SPY share 0 holdings out of 513 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IBGA or SPY?
IBGA has an expense ratio of 0.07% while SPY charges 0.09%. IBGA is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, IBGA or SPY?
Over the past year IBGA returned +0.07% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), IBGA annualized +1.41% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, IBGA or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.8% for IBGA. Worst drawdown: IBGA -11.1% vs SPY -56.5%.
Should I hold both IBGA and SPY?
IBGA and SPY have a monthly-return correlation of 0.23, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IBGA and SPY?
IBGA and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 513 unique securities.
Which pays a higher dividend, IBGA or SPY?
IBGA yields 4.77% while SPY yields 1.01%, so IBGA currently pays the higher dividend yield.
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