IVV vs SPYI
iShares Core S&P 500 ETF vs NEOS S&P 500 High Income ETF
Which is better, IVV or SPYI?
Nearly the same fund. IVV costs less.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 38.0%.
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 | IVV | SPYI |
|---|---|---|
| Expense Ratio | 0.03%Best | 0.68% |
| AUM | $876.4B | $11.7B |
| Dividend Yield | 1.06% | 11.81% |
| Holdings | 508 | 509 |
| YTD Return | +12.51%Best | +1.87% |
| 1Y Return | +17.57%Best | +5.77% |
| 3Y Return (annualized) | +21.27%Best | +12.67% |
| 5Y Return (annualized) | +12.95% | - |
| Volatility (annualized) | 14.2% | 10.3%Best |
| Max Drawdown | -18.8% | -16.5%Best |
| $10,000 over 4 years | $20,195Best | $16,092 |
| Top 10 Weight | 37.9%Best | 38.0% |
| Fund Family | iShares by BlackRock (US) | NEOS |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 15, 2000 | Aug 29, 2022 |
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Aug 30, 2022 to Sep 11, 2026 (4 years).
IVV vs SPYI 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 4 years both funds cover.
IVV vs SPYI Performance
iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US) and NEOS S&P 500 High Income ETF (SPYI) is an ETF from NEOS. Over the past year IVV returned +17.57% while SPYI returned +5.77%. Year to date, IVV is up 12.51% versus a gain of 1.87% for SPYI.
Over three years, IVV compounded at +21.27% per year against +12.67% for SPYI. Across the full 4-year window we track, IVV has the edge at +19.21% annualized vs +12.63%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 14.2% compared with 10.3% for SPYI. 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 -18.8% for IVV and -16.5% for SPYI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. 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 SPYI 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 1.06% against 11.81% for SPYI.
Holdings Overlap
98.6% of IVV's money is in holdings SPYI also owns. 99.2% of SPYI's money is in holdings IVV also owns.
Most of SPYI is already inside IVV. Owning both mostly buys the same companies twice.
484 positions in common, counted across the 505 positions we hold weights for in IVV and 494 in SPYI, against full books of 508 and 509.
What only one of them owns
Our book lists 4 positions for SPYI that do not appear in our book for IVV (0.4% of the fund), and 15 for IVV that do not appear in SPYI (0.9%).
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 IVV | Weight in SPYI | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 7.98% | 8.10% | 0.12% |
| AAPLApple, Inc | 6.86% | 7.06% | 0.20% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 5.44% | 5.69% | 0.25% |
| AMZNAmazon.Com Inc | 4.01% | 3.86% | 0.15% |
| GOOGLAlphabet A Usd 0.001 | 3.19% | 3.02% | 0.17% |
| AVGOBroadcom Inc | 2.98% | 2.66% | 0.32% |
| GOOGAlphabet Inc | 2.56% | 2.41% | 0.15% |
| METAMeta Platforms, Inc. | 1.94% | 1.92% | 0.02% |
| MUMicron Technology, Inc. | 1.51% | 1.66% | 0.15% |
| TSLATesla Inc | 1.36% | 1.57% | 0.21% |
99.2% of SPYI is already inside IVV.
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, IVV or SPYI?
IVV has an expense ratio of 0.03% while SPYI charges 0.68%. IVV is the cheaper option, by $65 a year on a $10,000 investment.
Which performed better, IVV or SPYI?
Over the past year IVV returned +17.57% vs +5.77% for SPYI, so IVV leads on 1-year performance. Over the longest common window we track (4 years), IVV annualized +19.21% vs +12.63% for SPYI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVV or SPYI?
IVV has been the more volatile fund at 14.2% annualized versus 10.3% for SPYI. Worst drawdown: IVV -18.8% vs SPYI -16.5%.
Should I hold both IVV and SPYI?
IVV and SPYI have a monthly-return correlation of 0.97, 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 IVV and SPYI?
99.2% of SPYI's money is in holdings IVV also owns. 99.2% of SPYI's is in holdings IVV also owns. They hold 484 positions in common, counted across the 505 positions we hold weights for in IVV and 494 in SPYI.
Which pays a higher dividend, IVV or SPYI?
IVV yields 1.06% while SPYI yields 11.81%, so SPYI currently pays the higher dividend yield.
Is SPYI better than IVV?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.