IWD vs SPY
IWD vs SPY
iShares Russell 1000 Value ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IWD delivered stronger 1-year returns. IWD offers more diversification with 753 holdings.
Side-by-Side Comparison
| Metric | IWD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.09% | |
| AUM | $81.3B | $789.1B | |
| Dividend Yield | 1.44% | 1.01% | |
| Holdings | 874 | 505 | |
| YTD Return | +20.65% | +11.49% | |
| 1Y Return | +32.64% | +21.37% | |
| 3Y Return (annualized) | +18.82% | +20.76% | |
| 5Y Return (annualized) | +11.71% | +12.94% | |
| Volatility (annualized) | 15.1% | 15.3% | |
| Max Drawdown | -61.9% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 22, 2000 | Jan 22, 1993 |
IWD vs SPY Performance
iShares Russell 1000 Value ETF (IWD) 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 IWD returned +32.64% while SPY returned +21.37%. Year to date, IWD is up 20.65% versus a gain of 11.49% for SPY.
Over three years, IWD compounded at +18.82% per year against +20.76% for SPY; over five years the annualized figures are +11.71% and +12.94% respectively. Across the full 26-year window we track, SPY has the edge at +8.78% annualized vs +6.40%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.1% for IWD. 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 -61.9% for IWD 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
IWD charges 0.18% per year while SPY charges 0.09%. On a $10,000 position that is $18 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, IWD currently yields 1.44% against 1.01% for SPY.
Holdings Overlap
IWD and SPY share 402 holdings out of 854 unique holdings combined, representing a 55.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in IWD | Weight in SPY | Difference |
|---|---|---|---|
| AAPL | 5.69% | 7.09% | 1.40% |
| AMZN | 5.96% | 3.69% | 2.27% |
| MSFT | 3.95% | 4.43% | 0.48% |
| JPM | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| JNJ | Pro | Pro | Pro |
| XOM | Pro | Pro | Pro |
| INTC | Pro | Pro | Pro |
| WMT | Pro | Pro | Pro |
| CSCO | Pro | Pro | Pro |
See all 10 holdings IWD 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, IWD or SPY?
IWD has an expense ratio of 0.18% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, IWD or SPY?
Over the past year IWD returned +32.64% vs +21.37% for SPY, so IWD leads on 1-year performance. Over the longest common window we track (26 years), IWD annualized +6.40% vs +8.78% for SPY. Past performance does not guarantee future results.
Which is riskier, IWD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 15.1% for IWD. Worst drawdown: IWD -61.9% vs SPY -56.5%.
Should I hold both IWD and SPY?
IWD 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 IWD and SPY?
IWD and SPY share 402 common holdings with a 55.8% weight overlap. Combined, they hold 854 unique securities.
Which pays a higher dividend, IWD or SPY?
IWD yields 1.44% while SPY yields 1.01%, so IWD currently pays the higher dividend yield.
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