IQSM vs SPY
NYLIM Candriam US Mid Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IQSM or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. IQSM is less concentrated, with 9.6% of the fund in its ten largest positions against 37.8%.
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 | IQSM | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $342M | $804.7B |
| Dividend Yield | 1.03% | 0.98% |
| Holdings | 248 | 505 |
| YTD Return | +12.76%Best | +11.45% |
| 1Y Return | +15.55% | +15.87%Best |
| 3Y Return (annualized) | +13.80% | +20.93%Best |
| 5Y Return (annualized) | - | +12.59% |
| Volatility (annualized) | 16.6% | 13.0%Best |
| Max Drawdown | -23.7% | -18.8%Best |
| $10,000 over 3.9 years | $15,924 | $20,708Best |
| Top 10 Weight | 9.6%Best | 37.8% |
| Fund Family | New York Life Investments | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Oct 25, 2022 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Oct 25, 2022 to Sep 15, 2026 (3.9 years).
IQSM 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 3.9 years both funds cover.
IQSM vs SPY Performance
NYLIM Candriam US Mid Cap Equity ETF (IQSM) is an ETF from New York Life Investments and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year IQSM returned +15.55% while SPY returned +15.87%. Year to date, IQSM is up 12.76% versus a gain of 11.45% for SPY.
Over three years, IQSM compounded at +13.80% per year against +20.93% for SPY. Across the full 4-year window we track, SPY has the edge at +20.52% annualized vs +12.67%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IQSM has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 13.0% 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 -23.7% for IQSM 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IQSM charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, IQSM currently yields 1.03% against 0.98% for SPY.
Holdings Overlap
24.5% of IQSM's money is in holdings SPY also owns. 1.0% of SPY's money is in holdings IQSM also owns.
IQSM and SPY share little of their money.
50 positions in common, counted across the 246 positions we hold weights for in IQSM and 504 in SPY, against full books of 248 and 505.
What only one of them owns
Our book lists 447 positions for SPY that do not appear in our book for IQSM (98.3% of the fund), and 186 for IQSM that do not appear in SPY (72.5%).
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 IQSM | Weight in SPY | Difference |
|---|---|---|---|
| MRNAModerna therapeutics | 0.81% | 0.08% | 0.73% |
| FFIVF5 Networks Inc. | 0.85% | 0.03% | 0.82% |
| VTRSViatris Inc. | 0.71% | 0.03% | 0.68% |
| IEXI D E X Corporation | 0.67% | 0.03% | 0.64% |
| BBYBest Buy Co. Inc. | 0.67% | 0.02% | 0.65% |
| CHRWCH Robinson Worldwide | 0.66% | 0.03% | 0.63% |
| BALLBall Corp | 0.65% | 0.03% | 0.62% |
| KIMKimco Realty Corp. | 0.65% | 0.02% | 0.63% |
| ZBRAZebra Technologies Corp | 0.65% | 0.02% | 0.63% |
| NDSNNordson Corp | 0.61% | 0.03% | 0.58% |
24.5% of IQSM 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, IQSM or SPY?
IQSM has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, IQSM or SPY?
Over the past year IQSM returned +15.55% vs +15.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (4 years), IQSM annualized +12.67% vs +20.52% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IQSM or SPY?
IQSM has been the more volatile fund at 16.6% annualized versus 13.0% for SPY. Worst drawdown: IQSM -23.7% vs SPY -18.8%.
Should I hold both IQSM and SPY?
IQSM and SPY have a monthly-return correlation of 0.83, 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 IQSM and SPY?
24.5% of IQSM's money is in holdings SPY also owns. 1.0% of SPY's is in holdings IQSM also owns. They hold 50 positions in common, counted across the 246 positions we hold weights for in IQSM and 504 in SPY.
Which pays a higher dividend, IQSM or SPY?
IQSM yields 1.03% while SPY yields 0.98%, so IQSM currently pays the higher dividend yield.
Is SPY better than IQSM?
SPY has a lower expense ratio. SPY led over 1Y, 3Y and the full window. IQSM is less concentrated, with 9.6% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.