IUSB vs SPY
iShares Core Universal USD Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IUSB or SPY?
Long Term Mid Quality against Large Cap Blend.
IUSB has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
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 | IUSB | SPY |
|---|---|---|
| Expense Ratio | 0.06%Best | 0.09% |
| AUM | $43.5B | $804.7B |
| Dividend Yield | 4.29% | 0.98% |
| Holdings | 17,578 | 505 |
| YTD Return | -1.03% | +12.09%Best |
| 1Y Return | -0.04% | +16.29%Best |
| 3Y Return (annualized) | +4.56% | +21.20%Best |
| 5Y Return (annualized) | -0.18% | +13.37%Best |
| Volatility (annualized) | 4.8%Best | 14.8% |
| Max Drawdown | -50.2% | -34.1%Best |
| $10,000 over 5 years | $9,910 | $18,728Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Long Term Mid Quality | Large Cap Blend |
| Inception | Jun 10, 2014 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 12, 2014 to Sep 18, 2026 (12.3 years).
IUSB 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 is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
IUSB vs SPY Performance
iShares Core Universal USD Bond ETF (IUSB) 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 IUSB returned -0.04% while SPY returned +16.29%. Year to date, IUSB is down 1.03% versus a gain of 12.09% for SPY.
Over three years, IUSB compounded at +4.56% per year against +21.20% for SPY; over five years the annualized figures are -0.18% and +13.37% respectively. Across the full 12-year window we track, SPY has the edge at +12.49% annualized vs +0.60%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.8% compared with 4.8% for IUSB. 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 -50.2% for IUSB 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 0.45. They move together some of the time, and apart the rest.
Fees and Cost Over Time
IUSB charges 0.06% per year while SPY charges 0.09%. On a $10,000 position that is $6 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, IUSB currently yields 4.29% against 0.98% for SPY.
Holdings Overlap
At least 1.7% of SPY's money is in holdings IUSB also owns.
Stated as a floor: for IUSB, our book for it covers 60.4% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and IUSB share little of their money.
9 positions in common, counted across the 12,830 positions we hold weights for in IUSB and 504 in SPY, against full books of 17,578 and 505.
Top Shared Holdings
| Stock | Weight in IUSB | Weight in SPY | Difference |
|---|---|---|---|
| LRCXLam Research Corp | 0.00% | 0.55% | 0.55% |
| GEGeneral Electric Co. | 0.00% | 0.53% | 0.53% |
| TMUST-Mobile Usa Inc Esrw Usd Npv Ref Sm#585558 | 0.02% | 0.13% | 0.11% |
| DUKDuke Energy Corp | 0.00% | 0.14% | 0.14% |
| AONAon Public Limited Company Cl. A | 0.00% | 0.11% | 0.11% |
| KDPKeurig Dr Pepper Inc (kdp Us) | 0.00% | 0.07% | 0.07% |
| ADMArcher-Daniels-Midland Co. | 0.00% | 0.06% | 0.06% |
| CNPCenterpoint Energy Inc. | 0.00% | 0.04% | 0.04% |
| HUBBHubbell Inc | 0.00% | 0.04% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of IUSB 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, IUSB or SPY?
IUSB has an expense ratio of 0.06% while SPY charges 0.09%. IUSB is the cheaper option, by $3 a year on a $10,000 investment.
Which performed better, IUSB or SPY?
Over the past year IUSB returned -0.04% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), IUSB annualized +0.60% vs +12.49% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IUSB or SPY?
SPY has been the more volatile fund at 14.8% annualized versus 4.8% for IUSB. Worst drawdown: IUSB -50.2% vs SPY -34.1%.
Should I hold both IUSB and SPY?
IUSB and SPY have a monthly-return correlation of 0.45, 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 IUSB and SPY?
At least 1.7% of SPY's money is in holdings IUSB also owns. Our book for IUSB is partial, so the real figure is this or higher. They hold 9 positions in common, counted across the 12,830 positions we hold weights for in IUSB and 504 in SPY.
Which pays a higher dividend, IUSB or SPY?
IUSB yields 4.29% while SPY yields 0.98%, so IUSB currently pays the higher dividend yield.
Is SPY better than IUSB?
IUSB has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.