IBMP vs SPY
Ishares Ibonds Dec 2027 Term Muni Bond ETF 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 503 holdings.
Side-by-Side Comparison
| Metric | IBMP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $653M | $789.1B | |
| Dividend Yield | 2.50% | 1.01% | |
| Holdings | 1,824 | 505 | |
| YTD Return | -0.26% | +13.39% | |
| 1Y Return | +0.40% | +22.52% | |
| 3Y Return (annualized) | +2.45% | +21.36% | |
| 5Y Return (annualized) | +0.17% | +13.19% | |
| Volatility (annualized) | 4.4% | 15.3% | |
| Max Drawdown | -15.2% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Apr 9, 2019 | Jan 22, 1993 |
IBMP vs SPY Performance
Ishares Ibonds Dec 2027 Term Muni Bond ETF (IBMP) 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 IBMP returned +0.40% while SPY returned +22.52%. Year to date, IBMP is down 0.26% versus a gain of 13.39% for SPY.
Over three years, IBMP compounded at +2.45% per year against +21.36% for SPY; over five years the annualized figures are +0.17% and +13.19% respectively. Across the full 7-year window we track, SPY has the edge at +8.84% annualized vs +1.64%. 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 4.4% for IBMP. 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 -15.2% for IBMP 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 0.44. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IBMP charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, IBMP currently yields 2.50% against 1.01% for SPY.
Holdings Overlap
IBMP and SPY share 0 holdings out of 815 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, IBMP or SPY?
IBMP has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, IBMP or SPY?
Over the past year IBMP returned +0.40% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), IBMP annualized +1.64% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, IBMP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.4% for IBMP. Worst drawdown: IBMP -15.2% vs SPY -56.5%.
Should I hold both IBMP and SPY?
IBMP and SPY have a monthly-return correlation of 0.44, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IBMP and SPY?
IBMP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 815 unique securities.
Which pays a higher dividend, IBMP or SPY?
IBMP yields 2.50% while SPY yields 1.01%, so IBMP currently pays the higher dividend yield.
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