ITOT vs SPY
iShares Core S&P Total US Stock Market ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ITOT or SPY?
Nearly the same fund. ITOT costs less.
ITOT has a lower expense ratio. ITOT led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 1.00.
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 | ITOT | SPY |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.09% |
| AUM | $95.7B | $804.7B |
| Dividend Yield | 0.98% | 0.98% |
| Holdings | 2,502 | 505 |
| YTD Return | +11.04%Best | +10.96% |
| 1Y Return | +15.35% | +15.52%Best |
| 3Y Return (annualized) | +20.46% | +20.73%Best |
| 5Y Return (annualized) | +11.52% | +12.53%Best |
| Volatility (annualized) | 15.0% | 14.6%Best |
| Max Drawdown | -56.3%Best | -56.5% |
| $10,000 over 5 years | $17,249 | $18,044Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 20, 2004 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jan 23, 2004 to Sep 16, 2026 (22.6 years).
ITOT 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 22.6 years both funds cover.
ITOT vs SPY Performance
iShares Core S&P Total US Stock Market ETF (ITOT) 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 ITOT returned +15.35% while SPY returned +15.52%. Year to date, ITOT is up 11.04% versus a gain of 10.96% for SPY.
Over three years, ITOT compounded at +20.46% per year against +20.73% for SPY; over five years the annualized figures are +11.52% and +12.53% respectively. Across the full 23-year window we track, ITOT has the edge at +9.05% annualized vs +9.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ITOT has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 14.6% 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 -56.3% for ITOT and -56.5% 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 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
ITOT charges 0.03% per year while SPY charges 0.09%. On a $10,000 position that is $3 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, ITOT currently yields 0.98% against 0.98% for SPY.
Holdings Overlap
At least 97.1% of SPY's money is in holdings ITOT also owns.
Stated as a floor: for ITOT, our book for it covers 94.2% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of SPY is already inside ITOT. Owning both mostly buys the same companies twice.
The two holdings books were reported 63 days apart, ITOT as of Jun 30, 2026 and SPY as of Sep 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
465 positions in common, counted across the 1,631 positions we hold weights for in ITOT and 504 in SPY, against full books of 2,502 and 505.
Top Shared Holdings
| Stock | Weight in ITOT | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.45% | 8.01% | 1.56% |
| AAPLApple, Inc | 6.25% | 7.26% | 1.01% |
| MSFTMicrosoft Corp | 3.91% | 5.66% | 1.75% |
| AMZNAmazon.Com Inc | 3.26% | 3.79% | 0.53% |
| GOOGLAlphabet Inc,class A | 2.92% | 2.99% | 0.07% |
| AVGOBroadcom Inc | 2.41% | 2.66% | 0.25% |
| GOOGAlphabet Inc | 2.35% | 2.39% | 0.04% |
| METAMeta Platforms Inc | 1.80% | 1.93% | 0.13% |
| TSLATesla Inc | 1.61% | 1.52% | 0.09% |
| MUMicron Technology, Inc. | 1.51% | 1.60% | 0.09% |
97.1% of SPY is already inside ITOT.
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, ITOT or SPY?
ITOT has an expense ratio of 0.03% while SPY charges 0.09%. ITOT is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, ITOT or SPY?
Over the past year ITOT returned +15.35% vs +15.52% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (23 years), ITOT annualized +9.05% vs +9.04% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ITOT or SPY?
ITOT has been the more volatile fund at 15.0% annualized versus 14.6% for SPY. Worst drawdown: ITOT -56.3% vs SPY -56.5%.
Should I hold both ITOT and SPY?
ITOT and SPY have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between ITOT and SPY?
At least 97.1% of SPY's money is in holdings ITOT also owns. Our book for ITOT is partial, so the real figure is this or higher. They hold 465 positions in common, counted across the 1,631 positions we hold weights for in ITOT and 504 in SPY.
Which pays a higher dividend, ITOT or SPY?
ITOT yields 0.98% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than ITOT?
ITOT has a lower expense ratio. ITOT led over the full window, SPY over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 1.00. Which one suits a particular account depends on what it is for. This is information, not a recommendation.