IJJ vs SPY
iShares S&P Mid-Cap 400 Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IJJ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $8.9B | $789.1B | |
| Dividend Yield | 1.59% | 1.01% | |
| Holdings | 309 | 505 | |
| YTD Return | +14.47% | +14.47% | |
| 1Y Return | +19.09% | +21.96% | |
| 3Y Return (annualized) | +13.54% | +21.70% | |
| 5Y Return (annualized) | +9.01% | +13.30% | |
| Volatility (annualized) | 18.3% | 15.3% | |
| Max Drawdown | -59.6% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jul 24, 2000 | Jan 22, 1993 |
IJJ vs SPY Performance
iShares S&P Mid-Cap 400 Value ETF (IJJ) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IJJ returned +19.09% while SPY returned +21.96%. Year to date, IJJ is up 14.47% versus a gain of 14.47% for SPY.
Over three years, IJJ compounded at +13.54% per year against +21.70% for SPY; over five years the annualized figures are +9.01% and +13.30% respectively. Across the full 26-year window we track, IJJ has the edge at +8.92% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IJJ has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 15.3% 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 -59.6% for IJJ 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 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IJJ charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, IJJ currently yields 1.59% against 1.01% for SPY.
Holdings Overlap
IJJ and SPY share 0 holdings out of 529 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IJJ or SPY?
IJJ has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, IJJ or SPY?
Over the past year IJJ returned +19.09% vs +21.96% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (26 years), IJJ annualized +8.92% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, IJJ or SPY?
IJJ has been the more volatile fund at 18.3% annualized versus 15.3% for SPY. Worst drawdown: IJJ -59.6% vs SPY -56.5%.
Should I hold both IJJ and SPY?
IJJ and SPY have a monthly-return correlation of 0.87, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IJJ and SPY?
IJJ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 529 unique securities.
Which pays a higher dividend, IJJ or SPY?
IJJ yields 1.59% while SPY yields 1.01%, so IJJ currently pays the higher dividend yield.
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