IMVP vs SPY
Invesco India ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IMVP or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. IMVP is less concentrated, with 36.5% of the fund in its ten largest positions against 38.0%.
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 | IMVP | SPY |
|---|---|---|
| Expense Ratio | 0.78% | 0.09%Best |
| AUM | $106M | $814.4B |
| Dividend Yield | 11.18% | 1.01% |
| Holdings | 34 | 505 |
| YTD Return | -16.08% | +13.34%Best |
| 1Y Return | -13.43% | +19.97%Best |
| 3Y Return (annualized) | +0.87% | +21.20%Best |
| 5Y Return (annualized) | +0.54% | +12.81%Best |
| Volatility (annualized) | 24.6% | 15.7%Best |
| Max Drawdown | -77.1% | -52.4%Best |
| $10,000 over 5 years | $10,273 | $18,270Best |
| Top 10 Weight | 36.5%Best | 38.0% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Mar 5, 2008 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Mar 7, 2008 to Sep 4, 2026 (18.5 years).
IMVP vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 18.5 years both funds cover.
IMVP vs SPY Performance
Invesco India ETF (IMVP) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IMVP returned -13.43% while SPY returned +19.97%. Year to date, IMVP is down 16.08% versus a gain of 13.34% for SPY.
Over three years, IMVP compounded at +0.87% per year against +21.20% for SPY; over five years the annualized figures are +0.54% and +12.81% respectively. Across the full 19-year window we track, SPY has the edge at +10.55% annualized vs +1.22%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IMVP has been the more volatile fund, with annualized monthly volatility of 24.6% compared with 15.7% 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 -77.1% for IMVP and -52.4% 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 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IMVP charges 0.78% per year while SPY charges 0.09%. On a $10,000 position that is $78 vs $9 annually, a gap of $69 per year that compounds over a long holding period. On income, IMVP currently yields 11.18% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 31 holdings in IMVP and 504 in SPY, totalling 99.3% and 100.0% 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 31 positions we hold weights for in IMVP and 504 in SPY, against full books of 34 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for IMVP (99.5% of the fund), and 3 for IMVP that do not appear in SPY (11.3%).
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 IMVP 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, IMVP or SPY?
IMVP has an expense ratio of 0.78% while SPY charges 0.09%. SPY is the cheaper option, by $69 a year on a $10,000 investment.
Which performed better, IMVP or SPY?
Over the past year IMVP returned -13.43% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), IMVP annualized +1.22% vs +10.55% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IMVP or SPY?
IMVP has been the more volatile fund at 24.6% annualized versus 15.7% for SPY. Worst drawdown: IMVP -77.1% vs SPY -52.4%.
Should I hold both IMVP and SPY?
IMVP and SPY have a monthly-return correlation of 0.60, 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, IMVP or SPY?
IMVP yields 11.18% while SPY yields 1.01%, so IMVP currently pays the higher dividend yield.
Is SPY better than IMVP?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. IMVP is less concentrated, with 36.5% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.