ETF Versus

IVV vs SPY

iShares Core S&P 500 ETF vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-02

IVV iShares

iShares Core S&P 500 ETF (IVV) is an exchange-traded fund issued by iShares that provides exposure to large-cap U.S. equities across growth and value styles. It charges a very low expense ratio of 0.03%. The fund offers a moderate dividend yield of 1.23%. Launched in 2000, the fund has a 26-year track record.

AUM: $702.1B ER: 0.03% Yield: 1.23% Since: May 15, 2000
SPY State Street

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by State Street that provides exposure to large-cap U.S. equities across growth and value styles. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.13%. Launched in 1993, the fund has a 33-year track record.

AUM: $636.7B ER: 0.09% Yield: 1.13% Since: Jan 22, 1993

Quick Verdict

IVV has a slightly lower expense ratio (0.03% vs 0.09%), saving about $119 per $10,000 over 10 years. Both funds have delivered similar 1-year returns (16.7% vs 16.8%), tracking closely.

Key Metrics

Metric IVV SPY
Expense Ratio 0.03% 0.09%
Dividend Yield 1.2% 1.1%
Fund Family iShares State Street
Category US Large Cap Blend US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

85 103 121 139 157 175 2021-04 2022-06 2023-09 2024-12 2026-04
IVV +61.3%
SPY +61.2%

Performance Comparison

Period IVV SPY Difference
1 Month -4.55% -4.54% -0.01%
3 Months -4.10% -4.09% -0.01%
6 Months -2.14% -2.09% -0.05%
YTD -4.10% -4.09% -0.01%
1 Year +16.72% +16.80% -0.08%
3 Years +59.51% +59.45% +0.06%
5 Years +61.35% +61.25% +0.10%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period IVV Fees SPY Fees You Save
$10.000 10 years $60 $179 $119
$10.000 20 years $258 $771 $512
$10.000 30 years $835 $2.486 $1.650
$50.000 10 years $299 $896 $597
$50.000 30 years $4.176 $12.428 $8.252
$100.000 30 years $8.352 $24.855 $16.503

Risk Metrics

Based on 5 years of daily returns

Metric IVV SPY
Annualized Volatility 16.9% 17.1%
Max Drawdown -25.4% -25.4%
Sharpe Ratio 0.39 0.38

Dividend Comparison

Metric IVV SPY
Annual Dividend (per share) $8.06 $7.38
Dividend Yield 1.22% 1.13%
Distribution Frequency Quarterly Quarterly

Top Holdings

9 of top 9 holdings overlap (100% overlap in top holdings)

IVV Top Holdings

NameWeight
NVIDIA CorporationNVDA7.45%
Apple Inc.AAPL6.68%
Microsoft CorporationMSFT4.85%
Amazon.com, Inc.AMZN3.56%
Broadcom Inc.AVGO2.61%
Alphabet Inc.GOOG2.34%
Meta Platforms, Inc.META2.10%
Tesla, Inc.TSLA1.86%
Berkshire Hathaway Inc.BRK.B1.57%

SPY Top Holdings

NameWeight
NVIDIA CorporationNVDA7.58%
Apple Inc.AAPL6.66%
Microsoft CorporationMSFT4.91%
Amazon.com, Inc.AMZN3.64%
Broadcom Inc.AVGO2.62%
Alphabet Inc.GOOG2.40%
Meta Platforms, Inc.META2.24%
Tesla, Inc.TSLA1.87%
Berkshire Hathaway Inc.BRK.B1.57%

Which One Should You Choose?

Choose IVV if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Either works if...

you just need broad us large cap blend exposure. Both are solid options — pick whichever your brokerage offers commission-free.

Related Comparisons

AGG vs IVV AGG vs SPY ARKK vs SPY BND vs IVV BND vs SPY BNDX vs IVV BNDX vs SPY COWZ vs SPY