ILF vs SPY
iShares Latin America 40 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ILF delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | ILF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.47% | 0.09% | |
| AUM | $3.8B | $789.1B | |
| Dividend Yield | 3.50% | 1.01% | |
| Holdings | 52 | 505 | |
| YTD Return | +13.73% | +13.79% | |
| 1Y Return | +38.48% | +23.66% | |
| 3Y Return (annualized) | +14.49% | +21.40% | |
| 5Y Return (annualized) | +10.76% | +13.37% | |
| Volatility (annualized) | 26.8% | 15.3% | |
| Max Drawdown | -74.4% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 25, 2001 | Jan 22, 1993 |
ILF vs SPY Performance
iShares Latin America 40 ETF (ILF) 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 ILF returned +38.48% while SPY returned +23.66%. Year to date, ILF is up 13.73% versus a gain of 13.79% for SPY.
Over three years, ILF compounded at +14.49% per year against +21.40% for SPY; over five years the annualized figures are +10.76% and +13.37% respectively. Across the full 25-year window we track, SPY has the edge at +8.85% annualized vs +7.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ILF has been the more volatile fund, with annualized monthly volatility of 26.8% 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 -74.4% for ILF 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 0.63. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ILF charges 0.47% per year while SPY charges 0.09%. On a $10,000 position that is $47 vs $9 annually, a gap of $38 per year that compounds over a long holding period. On income, ILF currently yields 3.50% against 1.01% for SPY.
Holdings Overlap
ILF and SPY share 0 holdings out of 545 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, ILF or SPY?
ILF has an expense ratio of 0.47% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, ILF or SPY?
Over the past year ILF returned +38.48% vs +23.66% for SPY, so ILF leads on 1-year performance. Over the longest common window we track (25 years), ILF annualized +7.52% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, ILF or SPY?
ILF has been the more volatile fund at 26.8% annualized versus 15.3% for SPY. Worst drawdown: ILF -74.4% vs SPY -56.5%.
Should I hold both ILF and SPY?
ILF and SPY have a monthly-return correlation of 0.63, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ILF and SPY?
ILF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 545 unique securities.
Which pays a higher dividend, ILF or SPY?
ILF yields 3.50% while SPY yields 1.01%, so ILF currently pays the higher dividend yield.
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