IPAC vs SPY
iShares Core MSCI Pacific ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IPAC or SPY?
All Cap Blend against Large Cap Blend.
IPAC led over 1Y, SPY over 3Y, 5Y and the full window. IPAC is less concentrated, with 18.6% of the fund in its ten largest positions against 37.8%.
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 | IPAC | SPY |
|---|---|---|
| Expense Ratio | 0.09%Tie | 0.09%Tie |
| AUM | $2.8B | $804.7B |
| Dividend Yield | 3.74% | 0.98% |
| Holdings | 1,383 | 505 |
| YTD Return | +15.62%Best | +12.46% |
| 1Y Return | +19.88%Best | +16.10% |
| 3Y Return (annualized) | +19.65% | +22.82%Best |
| 5Y Return (annualized) | +8.37% | +13.41%Best |
| Volatility (annualized) | 13.8%Best | 14.8% |
| Max Drawdown | -35.1% | -34.1%Best |
| $10,000 over 5 years | $14,947 | $18,761Best |
| Top 10 Weight | 18.6%Best | 37.8% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Jun 10, 2014 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jun 12, 2014 to Sep 29, 2026 (12.3 years).
IPAC 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 12.3 years both funds cover.
IPAC vs SPY Performance
iShares Core MSCI Pacific ETF (IPAC) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IPAC returned +19.88% while SPY returned +16.10%. Year to date, IPAC is up 15.62% versus a gain of 12.46% for SPY.
Over three years, IPAC compounded at +19.65% per year against +22.82% for SPY; over five years the annualized figures are +8.37% and +13.41% respectively. Across the full 12-year window we track, SPY has the edge at +12.49% annualized vs +5.90%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.8% 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 -34.1% 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 0.79. 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. On income, IPAC currently yields 3.74% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 1,015 holdings in IPAC and 504 in SPY, totalling 95.3% and 99.9% 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 1,015 positions we hold weights for in IPAC and 504 in SPY, against full books of 1,383 and 505.
What only one of them owns
Our book lists 497 positions for SPY that do not appear in our book for IPAC (99.3% of the fund), and 4 for IPAC that do not appear in SPY (0.3%).
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 IPAC 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, IPAC or SPY?
IPAC has an expense ratio of 0.09% while SPY charges 0.09%. At the precision these are quoted to, they cost the same.
Which performed better, IPAC or SPY?
Over the past year IPAC returned +19.88% vs +16.10% for SPY, so IPAC leads on 1-year performance. Over the longest common window we track (12 years), IPAC annualized +5.90% vs +12.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IPAC or SPY?
SPY has been the more volatile fund at 14.8% annualized versus 13.8% for IPAC. Worst drawdown: IPAC -35.1% vs SPY -34.1%.
Should I hold both IPAC and SPY?
IPAC and SPY have a monthly-return correlation of 0.79, 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, IPAC or SPY?
IPAC yields 3.74% while SPY yields 0.98%, so IPAC currently pays the higher dividend yield.
Is SPY better than IPAC?
IPAC led over 1Y, SPY over 3Y, 5Y and the full window. IPAC is less concentrated, with 18.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.