IUS vs SPY
IUS vs SPY
Invesco RAFI Strategic US ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IUS delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IUS | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.19% | 0.09% | |
| AUM | $912M | $789.1B | |
| Dividend Yield | 1.29% | 1.01% | |
| Holdings | 546 | 505 | |
| YTD Return | +20.28% | +11.49% | |
| 1Y Return | +34.81% | +21.37% | |
| 3Y Return (annualized) | +20.95% | +20.76% | |
| 5Y Return (annualized) | +14.71% | +12.94% | |
| Volatility (annualized) | 16.7% | 15.3% | |
| Max Drawdown | -35.2% | -56.5% | |
| Fund Family | Invesco (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 12, 2018 | Jan 22, 1993 |
IUS vs SPY Performance
Invesco RAFI Strategic US ETF (IUS) is a ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IUS returned +34.81% while SPY returned +21.37%. Year to date, IUS is up 20.28% versus a gain of 11.49% for SPY.
Over three years, IUS compounded at +20.95% per year against +20.76% for SPY; over five years the annualized figures are +14.71% and +12.94% respectively. Across the full 8-year window we track, IUS has the edge at +15.09% annualized vs +8.78%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IUS 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 -35.2% for IUS 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IUS charges 0.19% per year while SPY charges 0.09%. On a $10,000 position that is $19 vs $9 annually, a gap of $10 per year that compounds over a long holding period. On income, IUS currently yields 1.29% against 1.01% for SPY.
Holdings Overlap
IUS and SPY share 356 holdings out of 648 unique holdings combined, representing a 57.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IUS | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 3.75% | 7.09% | 3.34% |
| NVDA | 1.97% | 7.31% | 5.34% |
| MSFT | 3.06% | 4.43% | 1.37% |
| GOOGL | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
See all 10 holdings IUS 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, IUS or SPY?
IUS has an expense ratio of 0.19% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $10 per year of difference.
Which performed better, IUS or SPY?
Over the past year IUS returned +34.81% vs +21.37% for SPY, so IUS leads on 1-year performance. Over the longest common window we track (8 years), IUS annualized +15.09% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, IUS or SPY?
IUS has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: IUS -35.2% vs SPY -56.5%.
Should I hold both IUS and SPY?
IUS and SPY have a monthly-return correlation of 0.94, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IUS and SPY?
IUS and SPY share 356 common holdings with a 57.5% weight overlap. Combined, they hold 648 unique securities.
Which pays a higher dividend, IUS or SPY?
IUS yields 1.29% while SPY yields 1.01%, so IUS currently pays the higher dividend yield.
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