INKM vs SPY
State Street Income Allocation 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 | INKM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $75M | $821.1B | |
| Dividend Yield | 4.78% | 1.01% | |
| Holdings | 15 | 505 | |
| YTD Return | +7.13% | +12.22% | |
| 1Y Return | +10.53% | +20.83% | |
| 3Y Return (annualized) | +10.93% | +21.70% | |
| 5Y Return (annualized) | +4.40% | +12.98% | |
| Volatility (annualized) | 9.4% | 15.3% | |
| Max Drawdown | -28.6% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Apr 25, 2012 | Jan 22, 1993 |
INKM vs SPY Performance
State Street Income Allocation ETF (INKM) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year INKM returned +10.53% while SPY returned +20.83%. Year to date, INKM is up 7.13% versus a gain of 12.22% for SPY.
Over three years, INKM compounded at +10.93% per year against +21.70% for SPY; over five years the annualized figures are +4.40% and +12.98% respectively. Across the full 14-year window we track, SPY has the edge at +8.79% annualized vs +2.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 9.4% for INKM. 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 -28.6% for INKM 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 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
INKM charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, INKM currently yields 4.78% against 1.01% for SPY.
Holdings Overlap
INKM and SPY share 0 holdings out of 519 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, INKM or SPY?
INKM has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, INKM or SPY?
Over the past year INKM returned +10.53% vs +20.83% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), INKM annualized +2.83% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, INKM or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.4% for INKM. Worst drawdown: INKM -28.6% vs SPY -56.5%.
Should I hold both INKM and SPY?
INKM and SPY have a monthly-return correlation of 0.81, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between INKM and SPY?
INKM and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 519 unique securities.
Which pays a higher dividend, INKM or SPY?
INKM yields 4.78% while SPY yields 1.01%, so INKM currently pays the higher dividend yield.
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