IVVW vs SPY
IVVW vs SPY
iShares S&P 500 BuyWrite 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 | IVVW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.09% | |
| AUM | $325M | $789.1B | |
| Dividend Yield | 17.58% | 1.01% | |
| Holdings | 4 | 505 | |
| YTD Return | -0.77% | +11.49% | |
| 1Y Return | +7.32% | +21.37% | |
| 3Y Return (annualized) | - | +20.76% | |
| 5Y Return (annualized) | - | +12.94% | |
| Volatility (annualized) | 7.5% | 15.3% | |
| Max Drawdown | -16.8% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Mar 14, 2024 | Jan 22, 1993 |
IVVW vs SPY Performance
iShares S&P 500 BuyWrite ETF (IVVW) 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 IVVW returned +7.32% while SPY returned +21.37%. Year to date, IVVW is down 0.77% versus a gain of 11.49% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.5% for IVVW. 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 -16.8% for IVVW 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 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IVVW charges 0.25% per year while SPY charges 0.09%. On a $10,000 position that is $25 vs $9 annually, a gap of $16 per year that compounds over a long holding period. On income, IVVW currently yields 17.58% against 1.01% for SPY.
Holdings Overlap
IVVW and SPY share 452 holdings out of 546 unique holdings combined, representing a 90.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IVVW | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 7.57% | 7.31% | 0.26% |
| AAPL | 7.16% | 7.09% | 0.07% |
| MSFT | 4.40% | 4.43% | 0.03% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
See all 10 holdings IVVW 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, IVVW or SPY?
IVVW has an expense ratio of 0.25% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $16 per year of difference.
Which performed better, IVVW or SPY?
Over the past year IVVW returned +7.32% vs +21.37% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), IVVW annualized +9.22% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, IVVW or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.5% for IVVW. Worst drawdown: IVVW -16.8% vs SPY -56.5%.
Should I hold both IVVW and SPY?
IVVW and SPY have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVVW and SPY?
IVVW and SPY share 452 common holdings with a 90.6% weight overlap. Combined, they hold 546 unique securities.
Which pays a higher dividend, IVVW or SPY?
IVVW yields 17.58% while SPY yields 1.01%, so IVVW currently pays the higher dividend yield.
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