IWM vs SPY
iShares Russell 2000 ETF vs State Street SPDR S&P 500 ETF Trust
Last updated: 2026-04-02
iShares Russell 2000 ETF (IWM) is an exchange-traded fund issued by iShares that provides exposure to small-cap U.S. equities with higher growth potential and volatility. It charges a moderate expense ratio of 0.19%. The fund offers a moderate dividend yield of 1.02%. Launched in 2000, the fund has a 26-year track record.
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.
Quick Verdict
SPY is significantly cheaper at 0.09% vs 0.19% expense ratio, saving you approximately $198 per $10,000 invested over 10 years. Over the past year, IWM has significantly outperformed with a 25.1% return vs 16.8%.
Key Metrics
Performance Chart
Indexed to 100 at start (5-year comparison)
Performance Comparison
Fee Impact Over Time
Estimated fee cost difference assuming 8% annual returns
Risk Metrics
Based on 5 years of daily returns
Dividend Comparison
Top Holdings
0 of top 9 holdings overlap (0% overlap in top holdings)
IWM Top Holdings
| Name | Weight |
|---|---|
| Bloom Energy CorporationBE | 1.01% |
| FabrinetFN | 0.69% |
| Nextpower Inc.NXT | 0.61% |
| COEUR MINING INCCDE.NE | 0.60% |
| EchoStar CorporationSATS | 0.54% |
| Credo Technology Group Holding LtdCRDO | 0.53% |
| Kratos Defense & Security Solutions, Inc.KTOS | 0.45% |
| Sterling Infrastructure, Inc.STRL | 0.43% |
| Advanced Energy Industries, Inc.AEIS | 0.41% |
| Hecla Mining CompanyHL | 0.39% |
SPY Top Holdings
| Name | Weight |
|---|---|
| NVIDIA CorporationNVDA | 7.58% |
| Apple Inc.AAPL | 6.66% |
| Microsoft CorporationMSFT | 4.91% |
| Amazon.com, Inc.AMZN | 3.64% |
| Broadcom Inc.AVGO | 2.62% |
| Alphabet Inc.GOOG | 2.40% |
| Meta Platforms, Inc.META | 2.24% |
| Tesla, Inc.TSLA | 1.87% |
| Berkshire Hathaway Inc.BRK.B | 1.57% |
Which One Should You Choose?
Choose SPY if...
you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.
Choose IWM if...
recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.