IYJ vs SPY
iShares US Industrials ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IYJ or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. IYJ is less concentrated, with 36.8% of the fund in its ten largest positions against 38.2%.
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 | IYJ | SPY |
|---|---|---|
| Expense Ratio | 0.37% | 0.09%Best |
| AUM | $2.0B | $811.2B |
| Dividend Yield | 0.73% | 0.98% |
| Holdings | 215 | 1,515 |
| YTD Return | +4.09% | +13.54%Best |
| 1Y Return | +6.77% | +16.25%Best |
| 3Y Return (annualized) | +17.16% | +23.72%Best |
| 5Y Return (annualized) | +8.68% | +13.95%Best |
| Volatility (annualized) | 18.6% | 15.1%Best |
| Max Drawdown | -62.8% | -56.5%Best |
| $10,000 over 5 years | $15,162 | $19,212Best |
| Top 10 Weight | 36.8%Best | 38.2% |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 12, 2000 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 2, 2001 to Oct 2, 2026 (25.7 years).
IYJ 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 25.7 years both funds cover.
IYJ vs SPY Performance
iShares US Industrials ETF (IYJ) 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 IYJ returned +6.77% while SPY returned +16.25%. Year to date, IYJ is up 4.09% versus a gain of 13.54% for SPY.
Over three years, IYJ compounded at +17.16% per year against +23.72% for SPY; over five years the annualized figures are +8.68% and +13.95% respectively. Across the full 26-year window we track, SPY has the edge at +7.51% annualized vs +7.30%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IYJ has been the more volatile fund, with annualized monthly volatility of 18.6% 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 -62.8% for IYJ 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 0.93. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IYJ charges 0.37% per year while SPY charges 0.09%. On a $10,000 position that is $37 vs $9 annually, a gap of $28 per year that compounds over a long holding period. On income, IYJ currently yields 0.73% against 0.98% for SPY.
Holdings Overlap
81.3% of IYJ's money is in holdings SPY also owns. 9.9% of SPY's money is in holdings IYJ also owns.
Most of IYJ is already inside SPY. Owning both mostly buys the same companies twice.
97 positions in common, counted across the 212 positions we hold weights for in IYJ and 504 in SPY, against full books of 215 and 1,515.
What only one of them owns
Our book lists 401 positions for SPY that do not appear in our book for IYJ (89.4% of the fund), and 109 for IYJ that do not appear in SPY (14.2%).
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 IYJ | Weight in SPY | Difference |
|---|---|---|---|
| VVisa Inc Class A | 7.58% | 0.95% | 6.63% |
| MAMastercard Inc | 5.69% | 0.71% | 4.98% |
| CATCaterpillar, Inc. | 4.60% | 0.55% | 4.05% |
| GEGeneral Electric Co. | 4.14% | 0.50% | 3.64% |
| GEVGE Vernova Inc. CDR (CAD Hedged) | 3.19% | 0.36% | 2.83% |
| AXPAmerican Express Co. | 2.13% | 0.27% | 1.86% |
| UNPUnion Pacific Corp | 2.09% | 0.26% | 1.83% |
| DEDeere & Co Sedol 2261203 | 2.07% | 0.26% | 1.81% |
| ETNEaton Corp Plc | 2.05% | 0.23% | 1.82% |
| BABoeing Co | 1.98% | 0.25% | 1.73% |
81.3% of IYJ 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, IYJ or SPY?
IYJ has an expense ratio of 0.37% while SPY charges 0.09%. SPY is the cheaper option, by $28 a year on a $10,000 investment.
Which performed better, IYJ or SPY?
Over the past year IYJ returned +6.77% vs +16.25% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (26 years), IYJ annualized +7.30% vs +7.51% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IYJ or SPY?
IYJ has been the more volatile fund at 18.6% annualized versus 15.1% for SPY. Worst drawdown: IYJ -62.8% vs SPY -56.5%.
Should I hold both IYJ and SPY?
IYJ and SPY have a monthly-return correlation of 0.93, 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 IYJ and SPY?
81.3% of IYJ's money is in holdings SPY also owns. 9.9% of SPY's is in holdings IYJ also owns. They hold 97 positions in common, counted across the 212 positions we hold weights for in IYJ and 504 in SPY.
Which pays a higher dividend, IYJ or SPY?
IYJ yields 0.73% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than IYJ?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.93. IYJ is less concentrated, with 36.8% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.