IYLD vs SPY
IYLD vs SPY
iShares Morningstar Multi-Asset Income ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. IYLD offers more diversification with 771 holdings.
Side-by-Side Comparison
| Metric | IYLD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.09% | |
| AUM | $125M | $789.1B | |
| Dividend Yield | 4.60% | 1.01% | |
| Holdings | 19,236 | 505 | |
| YTD Return | +2.98% | +9.93% | |
| 1Y Return | +9.64% | +19.50% | |
| 3Y Return (annualized) | +8.60% | +19.33% | |
| 5Y Return (annualized) | +2.53% | +12.82% | |
| Volatility (annualized) | 9.4% | 15.3% | |
| Max Drawdown | -30.2% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | Apr 3, 2012 | Jan 22, 1993 |
IYLD vs SPY Performance
iShares Morningstar Multi-Asset Income ETF (IYLD) 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 IYLD returned +9.64% while SPY returned +19.50%. Year to date, IYLD is up 2.98% versus a gain of 9.93% for SPY.
Over three years, IYLD compounded at +8.60% per year against +19.33% for SPY; over five years the annualized figures are +2.53% and +12.82% respectively. Across the full 14-year window we track, SPY has the edge at +8.74% annualized vs +3.97%. 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 9.4% for IYLD. 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 -30.2% for IYLD 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 0.73. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IYLD charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, IYLD currently yields 4.60% against 1.01% for SPY.
Holdings Overlap
IYLD and SPY share 25 holdings out of 1249 unique holdings combined, representing a 1.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IYLD | Weight in SPY | Difference |
|---|---|---|---|
| WELL | 0.45% | 0.25% | 0.20% |
| PLD | 0.36% | 0.20% | 0.16% |
| EQIX | 0.28% | 0.15% | 0.13% |
| SPG | Pro | Pro | Pro |
| DLR | Pro | Pro | Pro |
| O | Pro | Pro | Pro |
| PSA | Pro | Pro | Pro |
| VTR | Pro | Pro | Pro |
| IRM | Pro | Pro | Pro |
| EXR | Pro | Pro | Pro |
See all 10 holdings IYLD 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, IYLD or SPY?
IYLD has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $41 per year of difference.
Which performed better, IYLD or SPY?
Over the past year IYLD returned +9.64% vs +19.50% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), IYLD annualized +3.97% vs +8.74% for SPY. Past performance does not guarantee future results.
Which is riskier, IYLD or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 9.4% for IYLD. Worst drawdown: IYLD -30.2% vs SPY -56.5%.
Should I hold both IYLD and SPY?
IYLD and SPY have a monthly-return correlation of 0.73, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IYLD and SPY?
IYLD and SPY share 25 common holdings with a 1.5% weight overlap. Combined, they hold 1249 unique securities.
Which pays a higher dividend, IYLD or SPY?
IYLD yields 4.60% while SPY yields 1.01%, so IYLD currently pays the higher dividend yield.
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