IVV vs SPYH
iShares Core S&P 500 ETF vs NEOS S&P 500 Hedged Equity Income ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | SPYH | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.68% | |
| AUM | $907.0B | $30M | |
| Dividend Yield | 1.10% | 8.36% | |
| Holdings | 508 | 490 | |
| YTD Return | +12.71% | +2.75% | |
| 1Y Return | +21.89% | +9.00% | |
| 3Y Return (annualized) | +22.08% | - | |
| 5Y Return (annualized) | +12.96% | - | |
| Volatility (annualized) | 15.1% | 7.8% | |
| Max Drawdown | -56.5% | -7.7% | |
| Fund Family | iShares by BlackRock (US) | NEOS | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Apr 2, 2025 |
IVV vs SPYH Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and NEOS S&P 500 Hedged Equity Income ETF (SPYH) is a ETF from NEOS. Over the past year IVV returned +21.89% while SPYH returned +9.00%. Year to date, IVV is up 12.71% versus a gain of 2.75% for SPYH.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 7.8% for SPYH. 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 -56.5% for IVV and -7.7% for SPYH. 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 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while SPYH charges 0.68%. On a $10,000 position that is $3 vs $68 annually, a gap of $65 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 8.36% for SPYH.
Holdings Overlap
IVV and SPYH share 463 holdings out of 517 unique holdings combined, representing a 89.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, IVV or SPYH?
IVV has an expense ratio of 0.03% while SPYH charges 0.68%. IVV is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, IVV or SPYH?
Over the past year IVV returned +21.89% vs +9.00% for SPYH, so IVV leads on 1-year performance. Over the longest common window we track (1 years), IVV annualized +7.00% vs +16.74% for SPYH. Past performance does not guarantee future results.
Which is riskier, IVV or SPYH?
IVV has been the more volatile fund at 15.1% annualized versus 7.8% for SPYH. Worst drawdown: IVV -56.5% vs SPYH -7.7%.
Should I hold both IVV and SPYH?
IVV and SPYH have a monthly-return correlation of 0.95, 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 IVV and SPYH?
IVV and SPYH share 463 common holdings with a 89.3% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, IVV or SPYH?
IVV yields 1.10% while SPYH yields 8.36%, so SPYH currently pays the higher dividend yield.
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