IQDF vs SPY
Northern Trust International Quality Dividend ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IQDF or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. IQDF led over 1Y and 3Y, SPY over 5Y and the full window. IQDF is less concentrated, with 19.9% 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 | IQDF | SPY |
|---|---|---|
| Expense Ratio | 0.47% | 0.09%Best |
| AUM | $1.2B | $814.4B |
| Dividend Yield | 2.98% | 1.01% |
| Holdings | 265 | 505 |
| YTD Return | +19.45%Best | +13.34% |
| 1Y Return | +33.11%Best | +19.97% |
| 3Y Return (annualized) | +24.56%Best | +21.20% |
| 5Y Return (annualized) | +11.91% | +12.81%Best |
| Volatility (annualized) | 15.0% | 14.4%Best |
| Max Drawdown | -47.3% | -34.1%Best |
| $10,000 over 5 years | $17,553 | $18,270Best |
| Top 10 Weight | 19.9%Best | 38.0% |
| Fund Family | Northern Trust Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Apr 12, 2013 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Apr 16, 2013 to Sep 4, 2026 (13.4 years).
IQDF 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 13.4 years both funds cover.
IQDF vs SPY Performance
Northern Trust International Quality Dividend ETF (IQDF) is an ETF from Northern Trust Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IQDF returned +33.11% while SPY returned +19.97%. Year to date, IQDF is up 19.45% versus a gain of 13.34% for SPY.
Over three years, IQDF compounded at +24.56% per year against +21.20% for SPY; over five years the annualized figures are +11.91% and +12.81% respectively. Across the full 13-year window we track, SPY has the edge at +13.22% annualized vs +5.00%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IQDF has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.4% 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 -47.3% for IQDF 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
IQDF charges 0.47% per year while SPY charges 0.09%. On a $10,000 position that is $47 vs $9 annually, a gap of $38 per year that compounds over a long holding period. On income, IQDF currently yields 2.98% against 1.01% for SPY.
Holdings Overlap
1.3% of IQDF's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings IQDF also owns.
IQDF and SPY share little of their money.
1 positions in common, counted across the 188 positions we hold weights for in IQDF and 504 in SPY, against full books of 265 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for IQDF (99.4% of the fund), and 2 for IQDF that do not appear in SPY (0.4%).
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.
Top Shared Holdings
| Stock | Weight in IQDF | Weight in SPY | Difference |
|---|---|---|---|
| ROPRoper Technologies Inc. | 1.28% | 0.06% | 1.22% |
You are not choosing between two funds in isolation.
Whichever of IQDF 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, IQDF or SPY?
IQDF has an expense ratio of 0.47% while SPY charges 0.09%. SPY is the cheaper option, by $38 a year on a $10,000 investment.
Which performed better, IQDF or SPY?
Over the past year IQDF returned +33.11% vs +19.97% for SPY, so IQDF leads on 1-year performance. Over the longest common window we track (13 years), IQDF annualized +5.00% vs +13.22% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IQDF or SPY?
IQDF has been the more volatile fund at 15.0% annualized versus 14.4% for SPY. Worst drawdown: IQDF -47.3% vs SPY -34.1%.
Should I hold both IQDF and SPY?
IQDF 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.
What is the holdings overlap between IQDF and SPY?
1.3% of IQDF's money is in holdings SPY also owns. 0.1% of SPY's is in holdings IQDF also owns. They hold 1 positions in common, counted across the 188 positions we hold weights for in IQDF and 504 in SPY.
Which pays a higher dividend, IQDF or SPY?
IQDF yields 2.98% while SPY yields 1.01%, so IQDF currently pays the higher dividend yield.
Is SPY better than IQDF?
SPY has a lower expense ratio. IQDF led over 1Y and 3Y, SPY over 5Y and the full window. IQDF is less concentrated, with 19.9% 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.