IPAV vs SPY
Global X Infrastructure Development ex-US ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IPAV or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. IPAV is less concentrated, with 31.8% of the fund in its ten largest positions against 38.0%.
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 | IPAV | SPY |
|---|---|---|
| Expense Ratio | 0.55% | 0.09%Best |
| AUM | $5M | $814.4B |
| Dividend Yield | 1.52% | 1.01% |
| Holdings | 108 | 505 |
| YTD Return | +8.74% | +13.34%Best |
| 1Y Return | +16.64% | +19.97%Best |
| 3Y Return (annualized) | - | +21.20% |
| 5Y Return (annualized) | - | +12.81% |
| Volatility (annualized) | 16.3% | 12.3%Best |
| Max Drawdown | -14.6%Best | -18.8% |
| $10,000 over 2 years | $13,163 | $14,078Best |
| Top 10 Weight | 31.8%Best | 38.0% |
| Fund Family | GLOBALXETFS | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 27, 2024 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 2 years row, are measured over the window both funds cover: Aug 28, 2024 to Sep 4, 2026 (2 years).
IPAV 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 2 years both funds cover.
IPAV vs SPY Performance
Global X Infrastructure Development ex-US ETF (IPAV) is an ETF from GLOBALXETFS and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IPAV returned +16.64% while SPY returned +19.97%. Year to date, IPAV is up 8.74% versus a gain of 13.34% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IPAV has been the more volatile fund, with annualized monthly volatility of 16.3% compared with 12.3% for SPY. 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 -14.6% for IPAV and -18.8% 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 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IPAV charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, IPAV currently yields 1.52% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 100 holdings in IPAV and 504 in SPY, totalling 99.9% and 100.0% 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 100 positions we hold weights for in IPAV and 504 in SPY, against full books of 108 and 505.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for IPAV (99.5% of the fund), and 0 for IPAV that do not appear in SPY (0.0%).
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 IPAV 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, IPAV or SPY?
IPAV has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option, by $46 a year on a $10,000 investment.
Which performed better, IPAV or SPY?
Over the past year IPAV returned +16.64% vs +19.97% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), IPAV annualized +14.73% vs +18.65% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IPAV or SPY?
IPAV has been the more volatile fund at 16.3% annualized versus 12.3% for SPY. Worst drawdown: IPAV -14.6% vs SPY -18.8%.
Should I hold both IPAV and SPY?
IPAV and SPY have a monthly-return correlation of 0.58, 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, IPAV or SPY?
IPAV yields 1.52% while SPY yields 1.01%, so IPAV currently pays the higher dividend yield.
Is SPY better than IPAV?
SPY has a lower expense ratio. SPY led over 1Y and the full window. IPAV is less concentrated, with 31.8% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.