IGHG vs SPY
ProShares Investment Grade-Interest Rate Hedged ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IGHG or SPY?
Investment Grade Bond against Large Cap Blend.
SPY 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 | IGHG | SPY |
|---|---|---|
| Expense Ratio | 0.30% | 0.09%Best |
| AUM | $343M | $814.4B |
| Dividend Yield | 5.12% | 1.01% |
| Holdings | 186 | 505 |
| YTD Return | -1.31% | +13.34%Best |
| 1Y Return | -0.07% | +19.97%Best |
| 3Y Return (annualized) | +5.87% | +21.20%Best |
| 5Y Return (annualized) | +4.60% | +12.81%Best |
| Volatility (annualized) | 11.7%Best | 14.5% |
| Max Drawdown | -43.7% | -34.1%Best |
| $10,000 over 5 years | $12,522 | $18,270Best |
| Fund Family | ProShares | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Investment Grade Bond | Large Cap Blend |
| Inception | Nov 5, 2013 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 7, 2013 to Sep 4, 2026 (12.8 years).
IGHG 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.
IGHG vs SPY Performance
ProShares Investment Grade-Interest Rate Hedged ETF (IGHG) is an ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IGHG returned -0.07% while SPY returned +19.97%. Year to date, IGHG is down 1.31% versus a gain of 13.34% for SPY.
Over three years, IGHG compounded at +5.87% per year against +21.20% for SPY; over five years the annualized figures are +4.60% and +12.81% respectively. Across the full 13-year window we track, SPY has the edge at +12.90% annualized vs +3.39%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.5% compared with 11.7% for IGHG. 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 -43.7% for IGHG 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 0.33. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IGHG charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, IGHG currently yields 5.12% against 1.01% for SPY.
You are not choosing between two funds in isolation.
Whichever of IGHG 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, IGHG or SPY?
IGHG has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, IGHG or SPY?
Over the past year IGHG returned -0.07% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (13 years), IGHG annualized +3.39% vs +12.90% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IGHG or SPY?
SPY has been the more volatile fund at 14.5% annualized versus 11.7% for IGHG. Worst drawdown: IGHG -43.7% vs SPY -34.1%.
Should I hold both IGHG and SPY?
IGHG and SPY have a monthly-return correlation of 0.33, 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, IGHG or SPY?
IGHG yields 5.12% while SPY yields 1.01%, so IGHG currently pays the higher dividend yield.
Is SPY better than IGHG?
SPY 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.