IXJ vs SPY
iShares Global Healthcare ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IXJ or SPY?
Large Cap Value against Large Cap Blend.
SPY has a lower expense ratio. IXJ led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 46.2%.
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 | IXJ | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $4.3B | $804.7B |
| Dividend Yield | 1.43% | 0.98% |
| Holdings | 125 | 505 |
| YTD Return | +6.09% | +12.99%Best |
| 1Y Return | +19.01%Best | +16.73% |
| 3Y Return (annualized) | +8.73% | +22.52%Best |
| 5Y Return (annualized) | +4.80% | +13.07%Best |
| Volatility (annualized) | 13.2%Best | 14.8% |
| Max Drawdown | -42.8%Best | -56.5% |
| $10,000 over 5 years | $12,642 | $18,481Best |
| Top 10 Weight | 46.2% | 37.8%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Nov 13, 2001 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 21, 2001 to Sep 23, 2026 (24.8 years).
IXJ 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 24.8 years both funds cover.
IXJ vs SPY Performance
iShares Global Healthcare ETF (IXJ) 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 IXJ returned +19.01% while SPY returned +16.73%. Year to date, IXJ is up 6.09% versus a gain of 12.99% for SPY.
Over three years, IXJ compounded at +8.73% per year against +22.52% for SPY; over five years the annualized figures are +4.80% and +13.07% respectively. Across the full 25-year window we track, SPY has the edge at +8.30% annualized vs +6.11%.
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 13.2% for IXJ. 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 -42.8% for IXJ 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IXJ charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, IXJ currently yields 1.43% against 0.98% for SPY.
Holdings Overlap
75.9% of IXJ's money is in holdings SPY also owns. 9.5% of SPY's money is in holdings IXJ also owns.
Most of IXJ is already inside SPY. Owning both mostly buys the same companies twice.
61 positions in common, counted across the 109 positions we hold weights for in IXJ and 504 in SPY, against full books of 125 and 505.
What only one of them owns
Our book lists 438 positions for SPY that do not appear in our book for IXJ (89.9% of the fund), and 1 for IXJ that do not appear in SPY (0.1%).
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 IXJ | Weight in SPY | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 9.97% | 1.40% | 8.57% |
| JNJJohnson & Johnson - Common | 6.98% | 0.99% | 5.99% |
| ABBVAbbvie Inc. | 4.94% | 0.70% | 4.24% |
| MRKMerck & Company Inc | 4.48% | 0.56% | 3.92% |
| UNHUnitedhealth Group, Inc. | 3.90% | 0.55% | 3.35% |
| ROPRoper Technologies Inc. | 3.76% | 0.06% | 3.70% |
| AMGNAmgen Inc. | 2.85% | 0.36% | 2.49% |
| TMOThermo Fisherscientific Inc. | 2.81% | 0.34% | 2.47% |
| ABTAbbott Laboratories | 2.36% | 0.29% | 2.07% |
| GILDGilead Sciences | 2.23% | 0.28% | 1.95% |
75.9% of IXJ 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, IXJ or SPY?
IXJ has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, IXJ or SPY?
Over the past year IXJ returned +19.01% vs +16.73% for SPY, so IXJ leads on 1-year performance. Over the longest common window we track (25 years), IXJ annualized +6.11% vs +8.30% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IXJ or SPY?
SPY has been the more volatile fund at 14.8% annualized versus 13.2% for IXJ. Worst drawdown: IXJ -42.8% vs SPY -56.5%.
Should I hold both IXJ and SPY?
IXJ and SPY have a monthly-return correlation of 0.74, 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 IXJ and SPY?
75.9% of IXJ's money is in holdings SPY also owns. 9.5% of SPY's is in holdings IXJ also owns. They hold 61 positions in common, counted across the 109 positions we hold weights for in IXJ and 504 in SPY.
Which pays a higher dividend, IXJ or SPY?
IXJ yields 1.43% while SPY yields 0.98%, so IXJ currently pays the higher dividend yield.
Is SPY better than IXJ?
SPY has a lower expense ratio. IXJ led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 46.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.