IMTB vs SPY
IMTB vs SPY
iShares Core 5-10 Year USD Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
IMTB has a lower expense ratio. SPY delivered stronger 1-year returns. IMTB offers more diversification with 1157 holdings.
Side-by-Side Comparison
| Metric | IMTB | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.06% | 0.09% | |
| AUM | $276M | $789.1B | |
| Dividend Yield | 4.50% | 1.01% | |
| Holdings | 3,444 | 505 | |
| YTD Return | -0.52% | +13.10% | |
| 1Y Return | +2.67% | +22.80% | |
| 3Y Return (annualized) | +4.77% | +20.98% | |
| 5Y Return (annualized) | +0.23% | +13.20% | |
| Volatility (annualized) | 5.3% | 15.3% | |
| Max Drawdown | -18.3% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Nov 1, 2016 | Jan 22, 1993 |
IMTB vs SPY Performance
iShares Core 5-10 Year USD Bond ETF (IMTB) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IMTB returned +2.67% while SPY returned +22.80%. Year to date, IMTB is down 0.52% versus a gain of 13.10% for SPY.
Over three years, IMTB compounded at +4.77% per year against +20.98% for SPY; over five years the annualized figures are +0.23% and +13.20% respectively. Across the full 10-year window we track, SPY has the edge at +8.83% annualized vs +0.59%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.3% for IMTB. 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 -18.3% for IMTB and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IMTB charges 0.06% per year while SPY charges 0.09%. On a $10,000 position that is $6 vs $9 annually, a gap of $3 per year that compounds over a long holding period. On income, IMTB currently yields 4.50% against 1.01% for SPY.
Holdings Overlap
IMTB and SPY share 0 holdings out of 1660 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IMTB or SPY?
IMTB has an expense ratio of 0.06% while SPY charges 0.09%. IMTB is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, IMTB or SPY?
Over the past year IMTB returned +2.67% vs +22.80% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (10 years), IMTB annualized +0.59% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, IMTB or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.3% for IMTB. Worst drawdown: IMTB -18.3% vs SPY -56.5%.
Should I hold both IMTB and SPY?
IMTB and SPY have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IMTB and SPY?
IMTB and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1660 unique securities.
Which pays a higher dividend, IMTB or SPY?
IMTB yields 4.50% while SPY yields 1.01%, so IMTB currently pays the higher dividend yield.
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