IQHI vs SPY
NYLI MacKay High Income 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 | IQHI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.41% | 0.09% | |
| AUM | $113M | $821.1B | |
| Dividend Yield | 8.03% | 1.01% | |
| Holdings | 350 | 505 | |
| YTD Return | +2.74% | +12.68% | |
| 1Y Return | +6.30% | +21.82% | |
| 3Y Return (annualized) | +7.99% | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | 4.9% | 15.3% | |
| Max Drawdown | -4.7% | -56.5% | |
| Fund Family | New York Life Investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Oct 24, 2022 | Jan 22, 1993 |
IQHI vs SPY Performance
NYLI MacKay High Income ETF (IQHI) is a ETF from New York Life Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IQHI returned +6.30% while SPY returned +21.82%. Year to date, IQHI is up 2.74% versus a gain of 12.68% for SPY.
Over three years, IQHI compounded at +7.99% per year against +21.98% for SPY. Across the full 4-year window we track, SPY has the edge at +8.81% annualized vs +8.37%. 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 4.9% for IQHI. 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 -4.7% for IQHI 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 0.78. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IQHI charges 0.41% per year while SPY charges 0.09%. On a $10,000 position that is $41 vs $9 annually, a gap of $32 per year that compounds over a long holding period. On income, IQHI currently yields 8.03% against 1.01% for SPY.
Holdings Overlap
IQHI and SPY share 0 holdings out of 768 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, IQHI or SPY?
IQHI has an expense ratio of 0.41% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, IQHI or SPY?
Over the past year IQHI returned +6.30% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), IQHI annualized +8.37% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, IQHI or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 4.9% for IQHI. Worst drawdown: IQHI -4.7% vs SPY -56.5%.
Should I hold both IQHI and SPY?
IQHI and SPY have a monthly-return correlation of 0.78, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IQHI and SPY?
IQHI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 768 unique securities.
Which pays a higher dividend, IQHI or SPY?
IQHI yields 8.03% while SPY yields 1.01%, so IQHI currently pays the higher dividend yield.
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