IPAC vs SPY
iShares Core MSCI Pacific ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IPAC has a lower expense ratio. IPAC delivered stronger 1-year returns. IPAC offers more diversification with 1,385 holdings.
Side-by-Side Comparison
| Metric | IPAC | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.09% | |
| AUM | $2.8B | $821.1B | |
| Dividend Yield | 3.82% | 1.01% | |
| Holdings | 1,385 | 505 | |
| YTD Return | +15.80% | +12.93% | |
| 1Y Return | +21.10% | +20.62% | |
| 3Y Return (annualized) | +19.64% | +22.00% | |
| 5Y Return (annualized) | +8.95% | +13.33% | |
| Volatility (annualized) | 13.8% | 15.3% | |
| Max Drawdown | -35.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 10, 2014 | Jan 22, 1993 |
IPAC vs SPY Performance
iShares Core MSCI Pacific ETF (IPAC) 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 IPAC returned +21.10% while SPY returned +20.62%. Year to date, IPAC is up 15.80% versus a gain of 12.93% for SPY.
Over three years, IPAC compounded at +19.64% per year against +22.00% for SPY; over five years the annualized figures are +8.95% and +13.33% respectively. Across the full 12-year window we track, SPY has the edge at +8.82% annualized vs +5.97%. 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 13.8% for IPAC. 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 -35.1% for IPAC 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IPAC charges 0.09% per year while SPY charges 0.09%. On a $10,000 position that is $9 vs $9 annually, a gap of $0 per year that compounds over a long holding period. On income, IPAC currently yields 3.82% against 1.01% for SPY.
Holdings Overlap
IPAC and SPY share 1 holdings out of 1869 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IPAC | Weight in SPY | Difference |
|---|---|---|---|
| PNR | 0.01% | 0.02% | 0.01% |
Frequently Asked Questions
Which is cheaper, IPAC or SPY?
IPAC has an expense ratio of 0.09% while SPY charges 0.09%. IPAC is the cheaper option. On a $10,000 investment, that is $0 per year of difference.
Which performed better, IPAC or SPY?
Over the past year IPAC returned +21.10% vs +20.62% for SPY, so IPAC leads on 1-year performance. Over the longest common window we track (12 years), IPAC annualized +5.97% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, IPAC or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.8% for IPAC. Worst drawdown: IPAC -35.1% vs SPY -56.5%.
Should I hold both IPAC and SPY?
IPAC and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IPAC and SPY?
IPAC and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 1869 unique securities.
Which pays a higher dividend, IPAC or SPY?
IPAC yields 3.82% while SPY yields 1.01%, so IPAC currently pays the higher dividend yield.
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