IGTR vs SPY
Innovator Gradient Tactical Rotation Strategy ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IGTR delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IGTR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $20M | $789.1B | |
| Dividend Yield | 0.67% | 1.01% | |
| Holdings | 110 | 505 | |
| YTD Return | +17.33% | +13.79% | |
| 1Y Return | +36.58% | +23.66% | |
| 3Y Return (annualized) | +15.29% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 15.1% | 15.3% | |
| Max Drawdown | -20.1% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 17, 2022 | Jan 22, 1993 |
IGTR vs SPY Performance
Innovator Gradient Tactical Rotation Strategy ETF (IGTR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IGTR returned +36.58% while SPY returned +23.66%. Year to date, IGTR is up 17.33% versus a gain of 13.79% for SPY.
Over three years, IGTR compounded at +15.29% per year against +21.40% for SPY. Across the full 4-year window we track, IGTR has the edge at +9.43% annualized vs +8.85%. 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 15.1% for IGTR. 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 -20.1% for IGTR 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IGTR charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, IGTR currently yields 0.67% against 1.01% for SPY.
Holdings Overlap
IGTR and SPY share 94 holdings out of 510 unique holdings combined, representing a 21.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IGTR or SPY?
IGTR has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, IGTR or SPY?
Over the past year IGTR returned +36.58% vs +23.66% for SPY, so IGTR leads on 1-year performance. Over the longest common window we track (4 years), IGTR annualized +9.43% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IGTR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.1% for IGTR. Worst drawdown: IGTR -20.1% vs SPY -56.5%.
Should I hold both IGTR and SPY?
IGTR and SPY have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IGTR and SPY?
IGTR and SPY share 94 common holdings with a 21.2% weight overlap. Combined, they hold 510 unique securities.
Which pays a higher dividend, IGTR or SPY?
IGTR yields 0.67% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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