IOCT vs SPY
Innovator International Developed Power Buffer ETF - October 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 503 holdings.
Side-by-Side Comparison
| Metric | IOCT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.85% | 0.09% | |
| AUM | $166M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +8.31% | +13.39% | |
| 1Y Return | +15.05% | +22.52% | |
| 3Y Return (annualized) | +13.09% | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 8.8% | 15.3% | |
| Max Drawdown | -16.9% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Oct 1, 2021 | Jan 22, 1993 |
IOCT vs SPY Performance
Innovator International Developed Power Buffer ETF - October (IOCT) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IOCT returned +15.05% while SPY returned +22.52%. Year to date, IOCT is up 8.31% versus a gain of 13.39% for SPY.
Over three years, IOCT compounded at +13.09% per year against +21.36% for SPY. Across the full 5-year window we track, IOCT has the edge at +8.85% annualized vs +8.84%. 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 8.8% for IOCT. 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 -16.9% for IOCT 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IOCT charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, IOCT currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, IOCT or SPY?
IOCT has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, IOCT or SPY?
Over the past year IOCT returned +15.05% vs +22.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), IOCT annualized +8.85% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, IOCT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 8.8% for IOCT. Worst drawdown: IOCT -16.9% vs SPY -56.5%.
Should I hold both IOCT and SPY?
IOCT and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, IOCT or SPY?
IOCT yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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