IVV vs SPHY
IVV vs SPHY
iShares Core S&P 500 ETF vs State Street SPDR Portfolio High Yield Bond ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | SPHY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.05% | |
| AUM | $865.2B | $11.6B | |
| Dividend Yield | 1.09% | 7.24% | |
| Holdings | 508 | 1,942 | |
| YTD Return | +11.54% | +1.45% | |
| 1Y Return | +21.48% | +4.80% | |
| 3Y Return (annualized) | +20.86% | +8.15% | |
| 5Y Return (annualized) | +13.02% | +4.01% | |
| Volatility (annualized) | 15.1% | 8.6% | |
| Max Drawdown | -56.5% | -22.4% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Fixed Income | |
| Inception | May 15, 2000 | Jun 18, 2012 |
IVV vs SPHY Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and State Street SPDR Portfolio High Yield Bond ETF (SPHY) is a ETF from State Street Investment Management. Over the past year IVV returned +21.48% while SPHY returned +4.80%. Year to date, IVV is up 11.54% versus a gain of 1.45% for SPHY.
Over three years, IVV compounded at +20.86% per year against +8.15% for SPHY; over five years the annualized figures are +13.02% and +4.01% respectively. Across the full 7-year window we track, IVV has the edge at +6.97% annualized vs +3.62%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 8.6% for SPHY. 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 -56.5% for IVV and -22.4% for SPHY. 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 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVV charges 0.03% per year while SPHY charges 0.05%. On a $10,000 position that is $3 vs $5 annually, a gap of $2 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 7.24% for SPHY.
Holdings Overlap
IVV and SPHY share 0 holdings out of 856 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, IVV or SPHY?
IVV has an expense ratio of 0.03% while SPHY charges 0.05%. IVV is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, IVV or SPHY?
Over the past year IVV returned +21.48% vs +4.80% for SPHY, so IVV leads on 1-year performance. Over the longest common window we track (7 years), IVV annualized +6.97% vs +3.62% for SPHY. Past performance does not guarantee future results.
Which is riskier, IVV or SPHY?
IVV has been the more volatile fund at 15.1% annualized versus 8.6% for SPHY. Worst drawdown: IVV -56.5% vs SPHY -22.4%.
Should I hold both IVV and SPHY?
IVV and SPHY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and SPHY?
IVV and SPHY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 856 unique securities.
Which pays a higher dividend, IVV or SPHY?
IVV yields 1.09% while SPHY yields 7.24%, so SPHY currently pays the higher dividend yield.
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