IVE vs SPY
iShares S&P 500 Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IVE or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. IVE led over 1Y, SPY over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. IVE is less concentrated, with 23.4% 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 | IVE | SPY |
|---|---|---|
| Expense Ratio | 0.18% | 0.09%Best |
| AUM | $49.8B | $804.7B |
| Dividend Yield | 1.50% | 0.98% |
| Holdings | 444 | 505 |
| YTD Return | +9.95% | +10.96%Best |
| 1Y Return | +15.83%Best | +15.52% |
| 3Y Return (annualized) | +15.08% | +20.73%Best |
| 5Y Return (annualized) | +11.35% | +12.53%Best |
| Volatility (annualized) | 15.6% | 15.1%Best |
| Max Drawdown | -63.0% | -56.5%Best |
| $10,000 over 5 years | $17,118 | $18,044Best |
| Top 10 Weight | 23.4%Best | 37.8% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | May 22, 2000 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 26, 2000 to Sep 16, 2026 (26.3 years).
IVE 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 26.3 years both funds cover.
IVE vs SPY Performance
iShares S&P 500 Value ETF (IVE) 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 IVE returned +15.83% while SPY returned +15.52%. Year to date, IVE is up 9.95% versus a gain of 10.96% for SPY.
Over three years, IVE compounded at +15.08% per year against +20.73% for SPY; over five years the annualized figures are +11.35% and +12.53% respectively. Across the full 26-year window we track, SPY has the edge at +6.97% annualized vs +5.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVE has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.1% 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 -63.0% for IVE 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVE charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, IVE currently yields 1.50% against 0.98% for SPY.
Holdings Overlap
98.5% of IVE's money is in holdings SPY also owns. 60.9% of SPY's money is in holdings IVE also owns.
Most of IVE is already inside SPY. Owning both mostly buys the same companies twice.
429 positions in common, counted across the 432 positions we hold weights for in IVE and 504 in SPY, against full books of 444 and 505.
What only one of them owns
Our book lists 72 positions for SPY that do not appear in our book for IVE (38.6% of the fund), and 3 for IVE that do not appear in SPY (0.8%).
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 IVE | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 7.71% | 7.26% | 0.45% |
| AMZNAmazon.Com Inc | 3.96% | 3.79% | 0.17% |
| XOMExxon Mobil Corp. | 2.21% | 1.04% | 1.17% |
| TSLATesla Inc | 1.30% | 1.52% | 0.22% |
| JPMJpmorgan Chase | 1.01% | 1.45% | 0.44% |
| WMTWalmart, Inc. | 1.52% | 0.71% | 0.81% |
| INTCIntel Corporation | 1.46% | 0.67% | 0.79% |
| COSTCostco Wholesale Corp. | 1.39% | 0.63% | 0.76% |
| BACBank of America Corp.: Financials | 1.34% | 0.62% | 0.72% |
| CVXChevron Corp | 1.28% | 0.60% | 0.68% |
98.5% of IVE 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, IVE or SPY?
IVE has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, IVE or SPY?
Over the past year IVE returned +15.83% vs +15.52% for SPY, so IVE leads on 1-year performance. Over the longest common window we track (26 years), IVE annualized +5.74% vs +6.97% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVE or SPY?
IVE has been the more volatile fund at 15.6% annualized versus 15.1% for SPY. Worst drawdown: IVE -63.0% vs SPY -56.5%.
Should I hold both IVE and SPY?
IVE and SPY have a monthly-return correlation of 0.95, 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 IVE and SPY?
98.5% of IVE's money is in holdings SPY also owns. 60.9% of SPY's is in holdings IVE also owns. They hold 429 positions in common, counted across the 432 positions we hold weights for in IVE and 504 in SPY.
Which pays a higher dividend, IVE or SPY?
IVE yields 1.50% while SPY yields 0.98%, so IVE currently pays the higher dividend yield.
Is SPY better than IVE?
SPY has a lower expense ratio. IVE led over 1Y, SPY over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. IVE is less concentrated, with 23.4% 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.