IOPP vs SPY
Simplify Tara India Opportunities 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 | IOPP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.73% | 0.09% | |
| AUM | $7M | $821.1B | |
| Dividend Yield | 0.38% | 1.01% | |
| Holdings | 27 | 505 | |
| YTD Return | -0.62% | +13.70% | |
| 1Y Return | -2.38% | +21.44% | |
| 3Y Return (annualized) | - | +22.50% | |
| 5Y Return (annualized) | - | +13.24% | |
| Volatility (annualized) | 15.1% | 15.3% | |
| Max Drawdown | -23.7% | -56.5% | |
| Fund Family | Simplify Exchange Traded Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 4, 2024 | Jan 22, 1993 |
IOPP vs SPY Performance
Simplify Tara India Opportunities ETF (IOPP) is a ETF from Simplify Exchange Traded Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IOPP returned -2.38% while SPY returned +21.44%. Year to date, IOPP is down 0.62% versus a gain of 13.70% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.1% for IOPP. 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 -23.7% for IOPP 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 0.25. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IOPP charges 0.73% per year while SPY charges 0.09%. On a $10,000 position that is $73 vs $9 annually, a gap of $64 per year that compounds over a long holding period. On income, IOPP currently yields 0.38% against 1.01% for SPY.
Holdings Overlap
IOPP and SPY share 0 holdings out of 530 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, IOPP or SPY?
IOPP has an expense ratio of 0.73% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $64 per year of difference.
Which performed better, IOPP or SPY?
Over the past year IOPP returned -2.38% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (3 years), IOPP annualized +6.10% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, IOPP or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.1% for IOPP. Worst drawdown: IOPP -23.7% vs SPY -56.5%.
Should I hold both IOPP and SPY?
IOPP and SPY have a monthly-return correlation of 0.25, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IOPP and SPY?
IOPP and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 530 unique securities.
Which pays a higher dividend, IOPP or SPY?
IOPP yields 0.38% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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