IBTH vs SPY
iShares iBonds Dec 2027 Term Treasury ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IBTH has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IBTH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.07% | 0.09% | |
| AUM | $2.3B | $789.1B | |
| Dividend Yield | 3.82% | 1.01% | |
| Holdings | 53 | 505 | |
| YTD Return | +1.21% | +13.39% | |
| 1Y Return | +3.13% | +22.52% | |
| 3Y Return (annualized) | +4.44% | +21.36% | |
| 5Y Return (annualized) | +0.38% | +13.19% | |
| Volatility (annualized) | 4.2% | 15.3% | |
| Max Drawdown | -16.4% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Feb 25, 2020 | Jan 22, 1993 |
IBTH vs SPY Performance
iShares iBonds Dec 2027 Term Treasury ETF (IBTH) 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 IBTH returned +3.13% while SPY returned +22.52%. Year to date, IBTH is up 1.21% versus a gain of 13.39% for SPY.
Over three years, IBTH compounded at +4.44% per year against +21.36% for SPY; over five years the annualized figures are +0.38% and +13.19% respectively. Across the full 7-year window we track, SPY has the edge at +8.84% annualized vs +0.57%. 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 4.2% for IBTH. 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 -16.4% for IBTH 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
IBTH 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, IBTH currently yields 3.82% against 1.01% for SPY.
Holdings Overlap
IBTH and SPY share 0 holdings out of 552 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, IBTH or SPY?
IBTH has an expense ratio of 0.07% while SPY charges 0.09%. IBTH is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, IBTH or SPY?
Over the past year IBTH returned +3.13% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (7 years), IBTH annualized +0.57% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, IBTH or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.2% for IBTH. Worst drawdown: IBTH -16.4% vs SPY -56.5%.
Should I hold both IBTH and SPY?
IBTH 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 IBTH and SPY?
IBTH and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 552 unique securities.
Which pays a higher dividend, IBTH or SPY?
IBTH yields 3.82% while SPY yields 1.01%, so IBTH currently pays the higher dividend yield.
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