IPAV vs SPY
Global X Infrastructure Development ex-US 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 | IPAV | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $6M | $821.1B | |
| Dividend Yield | 1.52% | 1.01% | |
| Holdings | 100 | 505 | |
| YTD Return | +8.72% | +14.24% | |
| 1Y Return | +16.32% | +21.71% | |
| 3Y Return (annualized) | - | +22.10% | |
| 5Y Return (annualized) | - | +13.21% | |
| Volatility (annualized) | 16.8% | 15.3% | |
| Max Drawdown | -14.6% | -56.5% | |
| Fund Family | GLOBALXETFS | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 27, 2024 | Jan 22, 1993 |
IPAV vs SPY Performance
Global X Infrastructure Development ex-US ETF (IPAV) is a ETF from GLOBALXETFS and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IPAV returned +16.32% while SPY returned +21.71%. Year to date, IPAV is up 8.72% versus a gain of 14.24% for SPY.
Risk: Volatility and Drawdowns
IPAV has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 15.3% 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 -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 0.58. They move independently enough that combining them can meaningfully diversify a portfolio.
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
IPAV and SPY share 0 holdings out of 604 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, IPAV or SPY?
IPAV has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, IPAV or SPY?
Over the past year IPAV returned +16.32% vs +21.71% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), IPAV annualized +15.18% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, IPAV or SPY?
IPAV has been the more volatile fund at 16.8% annualized versus 15.3% for SPY. Worst drawdown: IPAV -14.6% vs SPY -56.5%.
Should I hold both IPAV and SPY?
IPAV and SPY have a monthly-return correlation of 0.58, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IPAV and SPY?
IPAV and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 604 unique securities.
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.
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