IYT vs SPY
iShares US Transportation ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, IYT or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. IYT led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 73.5%.
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 | IYT | SPY |
|---|---|---|
| Expense Ratio | 0.38% | 0.09%Best |
| AUM | $2.1B | $804.7B |
| Dividend Yield | 0.92% | 0.98% |
| Holdings | 47 | 505 |
| YTD Return | +9.30% | +11.52%Best |
| 1Y Return | +17.79%Best | +17.48% |
| 3Y Return (annualized) | +11.58% | +20.62%Best |
| 5Y Return (annualized) | +6.90% | +12.73%Best |
| Volatility (annualized) | 20.1% | 14.6%Best |
| Max Drawdown | -60.7% | -56.5%Best |
| $10,000 over 5 years | $13,960 | $18,205Best |
| Top 10 Weight | 73.5% | 38.0%Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Oct 6, 2003 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Oct 10, 2003 to Sep 10, 2026 (22.9 years).
IYT 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 22.9 years both funds cover.
IYT vs SPY Performance
iShares US Transportation ETF (IYT) 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 IYT returned +17.79% while SPY returned +17.48%. Year to date, IYT is up 9.30% versus a gain of 11.52% for SPY.
Over three years, IYT compounded at +11.58% per year against +20.62% for SPY; over five years the annualized figures are +6.90% and +12.73% respectively. Across the full 23-year window we track, SPY has the edge at +9.38% annualized vs +8.76%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IYT has been the more volatile fund, with annualized monthly volatility of 20.1% compared with 14.6% 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 -60.7% for IYT 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IYT 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, IYT currently yields 0.92% against 0.98% for SPY.
Holdings Overlap
82.5% of IYT's money is in holdings SPY also owns. 1.3% of SPY's money is in holdings IYT also owns.
Most of IYT is already inside SPY. Owning both mostly buys the same companies twice.
14 positions in common, counted across the 44 positions we hold weights for in IYT and 504 in SPY, against full books of 47 and 505.
What only one of them owns
Measured across the 44 and 504 positions we hold weights for.
SPY holds 480 positions IYT does not, 98.2% of the fund.
Largest: NVDA 7.71%, AAPL 6.83%, MSFT 5.50%, AMZN 4.08%, GOOGL 3.33%
Top Shared Holdings
| Stock | Weight in IYT | Weight in SPY | Difference |
|---|---|---|---|
| UNPUnion Pacific Corp | 17.84% | 0.26% | 17.58% |
| UBERUber Technologies Inc | 15.39% | 0.22% | 15.17% |
| CSXCsx Corp. | 9.38% | 0.14% | 9.24% |
| UPSUnited Parcel Service, Inc | 5.62% | 0.12% | 5.50% |
| NSCNorfolk Southern Corp. | 4.88% | 0.12% | 4.76% |
| FDXFedex Corp. | 4.51% | 0.10% | 4.41% |
| DALDelta Air Lines Inc. | 4.49% | 0.09% | 4.40% |
| UALUnited Airlines Holdings Inc. | 4.47% | 0.06% | 4.41% |
| ODFLOld Dominion Freight Line Inc | 3.73% | 0.06% | 3.67% |
| EXPDExpeditors International Of Washington Inc | 3.16% | 0.04% | 3.12% |
82.5% of IYT 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, IYT or SPY?
IYT 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, IYT or SPY?
Over the past year IYT returned +17.79% vs +17.48% for SPY, so IYT leads on 1-year performance. Over the longest common window we track (23 years), IYT annualized +8.76% vs +9.38% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IYT or SPY?
IYT has been the more volatile fund at 20.1% annualized versus 14.6% for SPY. Worst drawdown: IYT -60.7% vs SPY -56.5%.
Should I hold both IYT and SPY?
IYT and SPY have a monthly-return correlation of 0.83, 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 IYT and SPY?
82.5% of IYT's money is in holdings SPY also owns. 1.3% of SPY's is in holdings IYT also owns. They hold 14 positions in common, counted across the 44 positions we hold weights for in IYT and 504 in SPY.
Which pays a higher dividend, IYT or SPY?
IYT yields 0.92% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than IYT?
SPY has a lower expense ratio. IYT led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 73.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.