ICAP vs SPY
Infrastructure Capital Equity Income ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ICAP or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y 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 | ICAP | SPY |
|---|---|---|
| Expense Ratio | 2.47% | 0.09%Best |
| AUM | $105M | $777.9B |
| Dividend Yield | 12.45% | 1.00% |
| Holdings | 443 | 1,011 |
| YTD Return | +0.25% | +12.09%Best |
| 1Y Return | +3.94% | +12.45%Best |
| 3Y Return (annualized) | +16.80% | +21.45%Best |
| 5Y Return (annualized) | - | +11.87% |
| Volatility (annualized) | 19.2% | 15.5%Best |
| Max Drawdown | -24.2%Best | -24.5% |
| $10,000 over 4.9 years | $13,305 | $17,010Best |
| Fund Family | Infrastructure Capital Advisors, LLC | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Dec 28, 2021 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.9 years row, are measured over the window both funds cover: Dec 29, 2021 to Nov 11, 2026 (4.9 years).
ICAP 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 4.9 years both funds cover.
ICAP vs SPY Performance
Infrastructure Capital Equity Income ETF (ICAP) is an ETF from Infrastructure Capital Advisors, LLC and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ICAP returned +3.94% while SPY returned +12.45%. Year to date, ICAP is up 0.25% versus a gain of 12.09% for SPY.
Over three years, ICAP compounded at +16.80% per year against +21.45% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ICAP has been the more volatile fund, with annualized monthly volatility of 19.2% compared with 15.5% for SPY. 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 -24.2% for ICAP and -24.5% 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ICAP charges 2.47% per year while SPY charges 0.09%. On a $10,000 position that is $247 vs $9 annually, a gap of $238 per year that compounds over a long holding period. On income, ICAP currently yields 12.45% against 1.00% for SPY.
You are not choosing between two funds in isolation.
Whichever of ICAP 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, ICAP or SPY?
ICAP has an expense ratio of 2.47% while SPY charges 0.09%. SPY is the cheaper option, by $238 a year on a $10,000 investment.
Which performed better, ICAP or SPY?
Over the past year ICAP returned +3.94% vs +12.45% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ICAP or SPY?
ICAP has been the more volatile fund at 19.2% annualized versus 15.5% for SPY. Worst drawdown: ICAP -24.2% vs SPY -24.5%.
Should I hold both ICAP and SPY?
ICAP and SPY have a monthly-return correlation of 0.81, 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, ICAP or SPY?
ICAP yields 12.45% while SPY yields 1.00%, so ICAP currently pays the higher dividend yield.
Is SPY better than ICAP?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.