ICSH vs SPY
iShares Ultra Short Duration Bond Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ICSH or SPY?
Ultrashort Term Bond against Large Cap Blend.
ICSH has a lower expense ratio. SPY led over 1Y, 3Y, 5Y 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 | ICSH | SPY |
|---|---|---|
| Expense Ratio | 0.08%Best | 0.09% |
| AUM | $8.6B | $804.7B |
| Dividend Yield | 4.27% | 0.98% |
| Holdings | 393 | 505 |
| YTD Return | -0.40% | +12.47%Best |
| 1Y Return | +0.56% | +17.51%Best |
| 3Y Return (annualized) | +3.88% | +21.18%Best |
| 5Y Return (annualized) | +3.21% | +12.88%Best |
| Volatility (annualized) | 10.3%Best | 14.6% |
| Max Drawdown | -23.3%Best | -34.1% |
| $10,000 over 5 years | $11,711 | $18,327Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Ultrashort Term Bond | Large Cap Blend |
| Inception | Dec 11, 2013 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Dec 13, 2013 to Sep 11, 2026 (12.7 years).
ICSH 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
ICSH vs SPY Performance
iShares Ultra Short Duration Bond Active ETF (ICSH) 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 ICSH returned +0.56% while SPY returned +17.51%. Year to date, ICSH is down 0.40% versus a gain of 12.47% for SPY.
Over three years, ICSH compounded at +3.88% per year against +21.18% for SPY; over five years the annualized figures are +3.21% and +12.88% respectively. Across the full 13-year window we track, SPY has the edge at +12.76% annualized vs +2.08%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.6% compared with 10.3% for ICSH. 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 -23.3% for ICSH and -34.1% 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 0.06. They move largely independently of each other.
Fees and Cost Over Time
ICSH charges 0.08% per year while SPY charges 0.09%. On a $10,000 position that is $8 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, ICSH currently yields 4.27% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 117 holdings in ICSH and 504 in SPY, totalling 20.6% and 100.0% 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 117 positions we hold weights for in ICSH and 504 in SPY, against full books of 393 and 505.
You are not choosing between two funds in isolation.
Whichever of ICSH 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, ICSH or SPY?
ICSH has an expense ratio of 0.08% while SPY charges 0.09%. ICSH is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, ICSH or SPY?
Over the past year ICSH returned +0.56% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), ICSH annualized +2.08% vs +12.76% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ICSH or SPY?
SPY has been the more volatile fund at 14.6% annualized versus 10.3% for ICSH. Worst drawdown: ICSH -23.3% vs SPY -34.1%.
Should I hold both ICSH and SPY?
ICSH and SPY have a monthly-return correlation of 0.06, 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, ICSH or SPY?
ICSH yields 4.27% while SPY yields 0.98%, so ICSH currently pays the higher dividend yield.
Is SPY better than ICSH?
ICSH has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.