IQSM vs SPY
IQSM vs SPY
NYLI Candriam US Mid Cap Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IQSM delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IQSM | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $330M | $789.1B | |
| Dividend Yield | 1.04% | 1.01% | |
| Holdings | 243 | 505 | |
| YTD Return | +16.67% | +13.79% | |
| 1Y Return | +26.09% | +23.66% | |
| 3Y Return (annualized) | +13.45% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 16.7% | 15.3% | |
| Max Drawdown | -23.7% | -56.5% | |
| Fund Family | INDEXIQ ETF TRUST | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 25, 2022 | Jan 22, 1993 |
IQSM vs SPY Performance
NYLI Candriam US Mid Cap Equity ETF (IQSM) is a ETF from INDEXIQ ETF TRUST and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IQSM returned +26.09% while SPY returned +23.66%. Year to date, IQSM is up 16.67% versus a gain of 13.79% for SPY.
Over three years, IQSM compounded at +13.45% per year against +21.40% for SPY. Across the full 4-year window we track, IQSM has the edge at +14.07% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IQSM has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 15.3% 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 -23.7% for IQSM 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
IQSM charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, IQSM currently yields 1.04% against 1.01% for SPY.
Holdings Overlap
IQSM and SPY share 48 holdings out of 695 unique holdings combined, representing a 0.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IQSM | Weight in SPY | Difference |
|---|---|---|---|
| ALB | 0.97% | 0.02% | 0.95% |
| FFIV | 0.81% | 0.04% | 0.77% |
| CHRW | 0.79% | 0.03% | 0.76% |
| BG | Pro | Pro | Pro |
| AKAM | Pro | Pro | Pro |
| MRNA | Pro | Pro | Pro |
| IEX | Pro | Pro | Pro |
| KIM | Pro | Pro | Pro |
| BALL | Pro | Pro | Pro |
| NDSN | Pro | Pro | Pro |
See all 10 holdings IQSM shares with SPY Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, IQSM or SPY?
IQSM has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, IQSM or SPY?
Over the past year IQSM returned +26.09% vs +23.66% for SPY, so IQSM leads on 1-year performance. Over the longest common window we track (4 years), IQSM annualized +14.07% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IQSM or SPY?
IQSM has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: IQSM -23.7% vs SPY -56.5%.
Should I hold both IQSM and SPY?
IQSM 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 IQSM and SPY?
IQSM and SPY share 48 common holdings with a 0.9% weight overlap. Combined, they hold 695 unique securities.
Which pays a higher dividend, IQSM or SPY?
IQSM yields 1.04% while SPY yields 1.01%, so IQSM currently pays the higher dividend yield.
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