IHD vs SPY
Voya Emerging Markets High Dividend Equity Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, IHD or SPY?
Each has led over a different period.
SPY has a lower expense ratio. IHD led over 1Y, SPY over the full window. IHD is less concentrated, with 37.2% of the fund in its ten largest positions against 38.2%.
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 | IHD | SPY |
|---|---|---|
| Expense Ratio | 0.77% | 0.09%Best |
| AUM | $134M | $823.2B |
| Dividend Yield | 8.54% | 0.99% |
| Holdings | 331 | 1,515 |
| Volatility (annualized) | 19.3% | 14.2%Best |
| Max Drawdown | -76.8% | -34.1%Best |
| $10,000 over 15.5 years | $6,961 | $62,153Best |
| Top 10 Weight | 37.2%Best | 38.2% |
| Fund Family | Voya Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 26, 2011 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 10 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IHD has data through Oct 13, 2026 and SPY through Oct 23, 2026.
Volatility and max drawdown, and the $10,000 over 15.5 years row, are measured over the window both funds cover: Apr 27, 2011 to Oct 13, 2026 (15.5 years).
Risk: Volatility and Drawdowns
IHD has been the more volatile fund, with annualized monthly volatility of 19.3% compared with 14.2% 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 -76.8% for IHD 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 0.63. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IHD charges 0.77% per year while SPY charges 0.09%. On a $10,000 position that is $77 vs $9 annually, a gap of $68 per year that compounds over a long holding period. On income, IHD currently yields 8.54% against 0.99% for SPY.
Holdings Overlap
We hold position weights for 321 holdings in IHD and 504 in SPY, totalling 99.5% and 99.8% 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 321 positions we hold weights for in IHD and 504 in SPY, against full books of 331 and 1,515.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for IHD (99.2% of the fund), and 9 for IHD that do not appear in SPY (5.2%).
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 IHD 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, IHD or SPY?
IHD has an expense ratio of 0.77% while SPY charges 0.09%. SPY is the cheaper option, by $68 a year on a $10,000 investment.
Which is riskier, IHD or SPY?
IHD has been the more volatile fund at 19.3% annualized versus 14.2% for SPY. Worst drawdown: IHD -76.8% vs SPY -34.1%.
Should I hold both IHD and SPY?
IHD and SPY have a monthly-return correlation of 0.63, 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, IHD or SPY?
IHD yields 8.54% while SPY yields 0.99%, so IHD currently pays the higher dividend yield.
Is SPY better than IHD?
SPY has a lower expense ratio. IHD led over 1Y, SPY over the full window. IHD is less concentrated, with 37.2% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.