IQRA vs SPY
NYLI CBRE Real Assets ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IQRA or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y and the full window. IQRA is less concentrated, with 29.1% 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 | IQRA | SPY |
|---|---|---|
| Expense Ratio | 0.65% | 0.09%Best |
| AUM | $7M | $804.7B |
| Dividend Yield | 2.65% | 0.98% |
| Holdings | 107 | 505 |
| Volatility (annualized) | 13.6% | 12.9%Best |
| Max Drawdown | -15.7%Best | -18.8% |
| $10,000 over 3.3 years | $13,298 | $19,463Best |
| Top 10 Weight | 29.1%Best | 38.0% |
| Fund Family | IndexIQ Trust | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 10, 2023 | Jan 22, 1993 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 15 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IQRA has data through Aug 27, 2026 and SPY through Sep 11, 2026.
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: May 10, 2023 to Aug 27, 2026 (3.3 years).
Risk: Volatility and Drawdowns
IQRA has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 12.9% 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 -15.7% for IQRA 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 0.59. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IQRA charges 0.65% per year while SPY charges 0.09%. On a $10,000 position that is $65 vs $9 annually, a gap of $56 per year that compounds over a long holding period. On income, IQRA currently yields 2.65% against 0.98% for SPY.
Holdings Overlap
41.8% of IQRA's money is in holdings SPY also owns. 2.8% of SPY's money is in holdings IQRA also owns.
The two portfolios partly overlap.
27 positions in common, counted across the 102 positions we hold weights for in IQRA and 504 in SPY, against full books of 107 and 505.
What only one of them owns
Our book lists 467 positions for SPY that do not appear in our book for IQRA (96.8% of the fund), and 25 for IQRA that do not appear in SPY (22.5%).
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 IQRA | Weight in SPY | Difference |
|---|---|---|---|
| WELLWelltower Inc | 7.17% | 0.25% | 6.92% |
| EQIXEquinix, Inc. | 3.87% | 0.16% | 3.71% |
| SPGSimon Property Group Inc | 3.19% | 0.11% | 3.08% |
| XELXcel Energy Inc. | 3.01% | 0.07% | 2.94% |
| WECWec Energy Group Inc. | 2.64% | 0.05% | 2.59% |
| WMBWilliams Cos. Inc. | 1.95% | 0.13% | 1.82% |
| AMTAmerican Tower Corp | 1.57% | 0.12% | 1.45% |
| ATOAtmos Energy Corp | 1.61% | 0.04% | 1.57% |
| PPLPpl Corp. | 1.59% | 0.04% | 1.55% |
| ETREntergy Corp. | 1.42% | 0.07% | 1.35% |
41.8% of IQRA is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IQRA or SPY?
IQRA has an expense ratio of 0.65% while SPY charges 0.09%. SPY is the cheaper option, by $56 a year on a $10,000 investment.
Which is riskier, IQRA or SPY?
IQRA has been the more volatile fund at 13.6% annualized versus 12.9% for SPY. Worst drawdown: IQRA -15.7% vs SPY -18.8%.
Should I hold both IQRA and SPY?
IQRA and SPY have a monthly-return correlation of 0.59, 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 IQRA and SPY?
41.8% of IQRA's money is in holdings SPY also owns. 2.8% of SPY's is in holdings IQRA also owns. They hold 27 positions in common, counted across the 102 positions we hold weights for in IQRA and 504 in SPY.
Which pays a higher dividend, IQRA or SPY?
IQRA yields 2.65% while SPY yields 0.98%, so IQRA currently pays the higher dividend yield.
Is SPY better than IQRA?
SPY has a lower expense ratio. SPY led over 1Y and the full window. IQRA is less concentrated, with 29.1% 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.