IMTM vs SPY
IMTM vs SPY
iShares MSCI Intl Momentum Factor ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IMTM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.09% | |
| AUM | $4.1B | $789.1B | |
| Dividend Yield | 4.36% | 1.01% | |
| Holdings | 326 | 505 | |
| YTD Return | +8.64% | +11.49% | |
| 1Y Return | +20.49% | +21.37% | |
| 3Y Return (annualized) | +20.67% | +20.76% | |
| 5Y Return (annualized) | +9.58% | +12.94% | |
| Volatility (annualized) | 13.8% | 15.3% | |
| Max Drawdown | -30.7% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 13, 2015 | Jan 22, 1993 |
IMTM vs SPY Performance
iShares MSCI Intl Momentum Factor ETF (IMTM) 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 IMTM returned +20.49% while SPY returned +21.37%. Year to date, IMTM is up 8.64% versus a gain of 11.49% for SPY.
Over three years, IMTM compounded at +20.67% per year against +20.76% for SPY; over five years the annualized figures are +9.58% and +12.94% respectively. Across the full 12-year window we track, SPY has the edge at +8.78% annualized vs +7.91%. 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 13.8% for IMTM. 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 -30.7% for IMTM 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IMTM charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, IMTM currently yields 4.36% against 1.01% for SPY.
Holdings Overlap
IMTM and SPY share 1 holdings out of 799 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IMTM | Weight in SPY | Difference |
|---|---|---|---|
| ROP | 1.81% | 0.06% | 1.75% |
Frequently Asked Questions
Which is cheaper, IMTM or SPY?
IMTM has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $21 per year of difference.
Which performed better, IMTM or SPY?
Over the past year IMTM returned +20.49% vs +21.37% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), IMTM annualized +7.91% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, IMTM or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 13.8% for IMTM. Worst drawdown: IMTM -30.7% vs SPY -56.5%.
Should I hold both IMTM and SPY?
IMTM and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IMTM and SPY?
IMTM and SPY share 1 common holdings with a 0.1% weight overlap. Combined, they hold 799 unique securities.
Which pays a higher dividend, IMTM or SPY?
IMTM yields 4.36% while SPY yields 1.01%, so IMTM currently pays the higher dividend yield.
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