IVOG vs SPY
IVOG vs SPY
Vanguard S&P Mid-Cap 400 Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IVOG delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IVOG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.10% | 0.09% | |
| AUM | $1.7B | $789.1B | |
| Dividend Yield | 0.81% | 1.01% | |
| Holdings | 246 | 505 | |
| YTD Return | +17.77% | +13.10% | |
| 1Y Return | +25.47% | +22.80% | |
| 3Y Return (annualized) | +15.28% | +20.98% | |
| 5Y Return (annualized) | +8.10% | +13.20% | |
| Volatility (annualized) | 16.7% | 15.3% | |
| Max Drawdown | -39.3% | -56.5% | |
| Fund Family | Vanguard (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 7, 2010 | Jan 22, 1993 |
IVOG vs SPY Performance
Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) is a ETF from Vanguard (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year IVOG returned +25.47% while SPY returned +22.80%. Year to date, IVOG is up 17.77% versus a gain of 13.10% for SPY.
Over three years, IVOG compounded at +15.28% per year against +20.98% for SPY; over five years the annualized figures are +8.10% and +13.20% respectively. Across the full 16-year window we track, IVOG has the edge at +12.48% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVOG 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 -39.3% for IVOG 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 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVOG charges 0.10% per year while SPY charges 0.09%. On a $10,000 position that is $10 vs $9 annually, a gap of $1 per year that compounds over a long holding period. On income, IVOG currently yields 0.81% against 1.01% for SPY.
Holdings Overlap
IVOG and SPY share 0 holdings out of 748 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, IVOG or SPY?
IVOG has an expense ratio of 0.10% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, IVOG or SPY?
Over the past year IVOG returned +25.47% vs +22.80% for SPY, so IVOG leads on 1-year performance. Over the longest common window we track (16 years), IVOG annualized +12.48% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, IVOG or SPY?
IVOG has been the more volatile fund at 16.7% annualized versus 15.3% for SPY. Worst drawdown: IVOG -39.3% vs SPY -56.5%.
Should I hold both IVOG and SPY?
IVOG and SPY have a monthly-return correlation of 0.91, 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 IVOG and SPY?
IVOG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 748 unique securities.
Which pays a higher dividend, IVOG or SPY?
IVOG yields 0.81% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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