IBTP vs SPY
iShares iBonds Dec 2034 Term Treasury ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IBTP or SPY?
Short Term Government Bond against Large Cap Blend.
IBTP has a lower expense ratio. SPY led over 1Y 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 | IBTP | SPY |
|---|---|---|
| Expense Ratio | 0.07%Best | 0.09% |
| AUM | $292M | $804.7B |
| Dividend Yield | 4.09% | 0.98% |
| Holdings | 6 | 505 |
| YTD Return | -2.81% | +12.09%Best |
| 1Y Return | -2.16% | +16.29%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +13.37% |
| Volatility (annualized) | 5.5%Best | 11.9% |
| Max Drawdown | -6.9%Best | -18.8% |
| $10,000 over 2.3 years | $10,644 | $14,528Best |
| Top 10 Weight | - | 37.8% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Short Term Government Bond | Large Cap Blend |
| Inception | Jun 11, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jun 12, 2024 to Sep 18, 2026 (2.3 years).
IBTP 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 2.3 years both funds cover.
IBTP vs SPY Performance
iShares iBonds Dec 2034 Term Treasury ETF (IBTP) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IBTP returned -2.16% while SPY returned +16.29%. Year to date, IBTP is down 2.81% versus a gain of 12.09% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 5.5% for IBTP. 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 -6.9% for IBTP and -18.8% 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 0.19. They move largely independently of each other.
Fees and Cost Over Time
IBTP 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, IBTP currently yields 4.09% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 5 holdings in IBTP and 504 in SPY, totalling 100.6% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 5 positions we hold weights for in IBTP and 504 in SPY, against full books of 6 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for IBTP (99.3% of the fund), and 5 for IBTP that do not appear in SPY (100.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of IBTP 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, IBTP or SPY?
IBTP has an expense ratio of 0.07% while SPY charges 0.09%. IBTP is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, IBTP or SPY?
Over the past year IBTP returned -2.16% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), IBTP annualized +2.75% vs +17.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IBTP or SPY?
SPY has been the more volatile fund at 11.9% annualized versus 5.5% for IBTP. Worst drawdown: IBTP -6.9% vs SPY -18.8%.
Should I hold both IBTP and SPY?
IBTP and SPY have a monthly-return correlation of 0.19, 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, IBTP or SPY?
IBTP yields 4.09% while SPY yields 0.98%, so IBTP currently pays the higher dividend yield.
Is SPY better than IBTP?
IBTP has a lower expense ratio. SPY led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.