ITOT vs SPY
iShares Core S&P Total US Stock Market ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
ITOT has a lower expense ratio. ITOT delivered stronger 1-year returns. ITOT offers more diversification with 2,502 holdings.
Side-by-Side Comparison
| Metric | ITOT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.09% | |
| AUM | $97.9B | $821.1B | |
| Dividend Yield | 1.01% | 1.01% | |
| Holdings | 2,502 | 505 | |
| YTD Return | +13.15% | +12.68% | |
| 1Y Return | +22.24% | +21.82% | |
| 3Y Return (annualized) | +21.84% | +21.98% | |
| 5Y Return (annualized) | +11.99% | +12.89% | |
| Volatility (annualized) | 15.0% | 15.3% | |
| Max Drawdown | -56.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 20, 2004 | Jan 22, 1993 |
ITOT vs SPY Performance
iShares Core S&P Total US Stock Market ETF (ITOT) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ITOT returned +22.24% while SPY returned +21.82%. Year to date, ITOT is up 13.15% versus a gain of 12.68% for SPY.
Over three years, ITOT compounded at +21.84% per year against +21.98% for SPY; over five years the annualized figures are +11.99% and +12.89% respectively. Across the full 23-year window we track, ITOT has the edge at +9.17% annualized vs +8.81%. 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 15.0% for ITOT. 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 1.01% against 1.01% for SPY.
Holdings Overlap
ITOT and SPY share 465 holdings out of 1670 unique holdings combined, representing a 85.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
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. On a $10,000 investment, that is $6 per year of difference.
Which performed better, ITOT or SPY?
Over the past year ITOT returned +22.24% vs +21.82% for SPY, so ITOT leads on 1-year performance. Over the longest common window we track (23 years), ITOT annualized +9.17% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, ITOT or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.0% for ITOT. 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between ITOT and SPY?
ITOT and SPY share 465 common holdings with a 85.2% weight overlap. Combined, they hold 1670 unique securities.
Which pays a higher dividend, ITOT or SPY?
ITOT yields 1.01% while SPY yields 1.01%, so ITOT currently pays the higher dividend yield.
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