IQLT vs SPY
iShares MSCI Intl Quality Factor ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IQLT or SPY?
Each has led over a different period.
SPY has a lower expense ratio. IQLT led over 1Y, SPY over 3Y, 5Y and the full window. IQLT is less concentrated, with 23.5% 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 | IQLT | SPY |
|---|---|---|
| Expense Ratio | 0.30% | 0.09%Best |
| AUM | $14.0B | $804.7B |
| Dividend Yield | 2.32% | 0.98% |
| Holdings | 325 | 505 |
| YTD Return | +11.58% | +12.47%Best |
| 1Y Return | +17.57%Best | +17.51% |
| 3Y Return (annualized) | +16.32% | +21.18%Best |
| 5Y Return (annualized) | +7.30% | +12.88%Best |
| Volatility (annualized) | 14.8%Best | 15.0% |
| Max Drawdown | -32.2%Best | -34.1% |
| $10,000 over 5 years | $14,223 | $18,327Best |
| Top 10 Weight | 23.5%Best | 38.0% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 13, 2015 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 15, 2015 to Sep 11, 2026 (11.7 years).
IQLT 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 11.7 years both funds cover.
IQLT vs SPY Performance
iShares MSCI Intl Quality Factor ETF (IQLT) 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 IQLT returned +17.57% while SPY returned +17.51%. Year to date, IQLT is up 11.58% versus a gain of 12.47% for SPY.
Over three years, IQLT compounded at +16.32% per year against +21.18% for SPY; over five years the annualized figures are +7.30% and +12.88% respectively. Across the full 12-year window we track, SPY has the edge at +12.95% annualized vs +7.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.8% for IQLT. 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 -32.2% for IQLT 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IQLT charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, IQLT currently yields 2.32% against 0.98% for SPY.
Holdings Overlap
2.5% of IQLT's money is in holdings SPY also owns. 0.1% of SPY's money is in holdings IQLT also owns.
IQLT and SPY share little of their money.
2 positions in common, counted across the 295 positions we hold weights for in IQLT and 504 in SPY, against full books of 325 and 505.
What only one of them owns
Our book lists 493 positions for SPY that do not appear in our book for IQLT (99.5% of the fund), and 7 for IQLT that do not appear in SPY (3.3%).
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 IQLT 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, IQLT or SPY?
IQLT has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, IQLT or SPY?
Over the past year IQLT returned +17.57% vs +17.51% for SPY, so IQLT leads on 1-year performance. Over the longest common window we track (12 years), IQLT annualized +7.25% vs +12.95% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IQLT or SPY?
SPY has been the more volatile fund at 15.0% annualized versus 14.8% for IQLT. Worst drawdown: IQLT -32.2% vs SPY -34.1%.
Should I hold both IQLT and SPY?
IQLT and SPY have a monthly-return correlation of 0.84, 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 IQLT and SPY?
2.5% of IQLT's money is in holdings SPY also owns. 0.1% of SPY's is in holdings IQLT also owns. They hold 2 positions in common, counted across the 295 positions we hold weights for in IQLT and 504 in SPY.
Which pays a higher dividend, IQLT or SPY?
IQLT yields 2.32% while SPY yields 0.98%, so IQLT currently pays the higher dividend yield.
Is SPY better than IQLT?
SPY has a lower expense ratio. IQLT led over 1Y, SPY over 3Y, 5Y and the full window. IQLT is less concentrated, with 23.5% 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.