IMCB vs SPY
iShares Morningstar Mid-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IMCB has a lower expense ratio. IMCB delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IMCB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.04% | 0.09% | |
| AUM | $1.7B | $789.1B | |
| Dividend Yield | 1.22% | 1.01% | |
| Holdings | 399 | 505 | |
| YTD Return | +20.14% | +13.75% | |
| 1Y Return | +26.58% | +22.91% | |
| 3Y Return (annualized) | +18.06% | +21.67% | |
| 5Y Return (annualized) | +9.54% | +13.32% | |
| Volatility (annualized) | 17.2% | 15.3% | |
| Max Drawdown | -59.6% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 28, 2004 | Jan 22, 1993 |
IMCB vs SPY Performance
iShares Morningstar Mid-Cap ETF (IMCB) 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 IMCB returned +26.58% while SPY returned +22.91%. Year to date, IMCB is up 20.14% versus a gain of 13.75% for SPY.
Over three years, IMCB compounded at +18.06% per year against +21.67% for SPY; over five years the annualized figures are +9.54% and +13.32% respectively. Across the full 22-year window we track, IMCB has the edge at +9.37% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IMCB has been the more volatile fund, with annualized monthly volatility of 17.2% 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 IMCB 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IMCB charges 0.04% per year while SPY charges 0.09%. On a $10,000 position that is $4 vs $9 annually, a gap of $5 per year that compounds over a long holding period. On income, IMCB currently yields 1.22% against 1.01% for SPY.
Holdings Overlap
IMCB and SPY share 299 holdings out of 600 unique holdings combined, representing a 18.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IMCB or SPY?
IMCB has an expense ratio of 0.04% while SPY charges 0.09%. IMCB is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, IMCB or SPY?
Over the past year IMCB returned +26.58% vs +22.91% for SPY, so IMCB leads on 1-year performance. Over the longest common window we track (22 years), IMCB annualized +9.37% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IMCB or SPY?
IMCB has been the more volatile fund at 17.2% annualized versus 15.3% for SPY. Worst drawdown: IMCB -59.6% vs SPY -56.5%.
Should I hold both IMCB and SPY?
IMCB and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IMCB and SPY?
IMCB and SPY share 299 common holdings with a 18.9% weight overlap. Combined, they hold 600 unique securities.
Which pays a higher dividend, IMCB or SPY?
IMCB yields 1.22% while SPY yields 1.01%, so IMCB currently pays the higher dividend yield.
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