IYW vs SPY
IYW vs SPY
iShares US Technology ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. IYW delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | IYW | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.38% | 0.09% | |
| AUM | $23.3B | $789.1B | |
| Dividend Yield | 0.10% | 1.01% | |
| Holdings | 153 | 505 | |
| YTD Return | +27.18% | +13.79% | |
| 1Y Return | +39.68% | +23.66% | |
| 3Y Return (annualized) | +33.20% | +21.40% | |
| 5Y Return (annualized) | +19.84% | +13.37% | |
| Volatility (annualized) | 24.6% | 15.3% | |
| Max Drawdown | -81.9% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Jan 22, 1993 |
IYW vs SPY Performance
iShares US Technology ETF (IYW) 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 IYW returned +39.68% while SPY returned +23.66%. Year to date, IYW is up 27.18% versus a gain of 13.79% for SPY.
Over three years, IYW compounded at +33.20% per year against +21.40% for SPY; over five years the annualized figures are +19.84% and +13.37% respectively. Across the full 26-year window we track, IYW has the edge at +8.93% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IYW has been the more volatile fund, with annualized monthly volatility of 24.6% 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 -81.9% for IYW 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
IYW charges 0.38% per year while SPY charges 0.09%. On a $10,000 position that is $38 vs $9 annually, a gap of $29 per year that compounds over a long holding period. On income, IYW currently yields 0.10% against 1.01% for SPY.
Holdings Overlap
IYW and SPY share 64 holdings out of 589 unique holdings combined, representing a 43.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IYW | Weight in SPY | Difference |
|---|---|---|---|
| NVDA | 12.80% | 7.31% | 5.49% |
| AAPL | 12.81% | 7.09% | 5.72% |
| MSFT | 8.56% | 4.43% | 4.13% |
| GOOGL | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| AMD | Pro | Pro | Pro |
| INTC | Pro | Pro | Pro |
See all 10 holdings IYW 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, IYW or SPY?
IYW has an expense ratio of 0.38% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $29 per year of difference.
Which performed better, IYW or SPY?
Over the past year IYW returned +39.68% vs +23.66% for SPY, so IYW leads on 1-year performance. Over the longest common window we track (26 years), IYW annualized +8.93% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, IYW or SPY?
IYW has been the more volatile fund at 24.6% annualized versus 15.3% for SPY. Worst drawdown: IYW -81.9% vs SPY -56.5%.
Should I hold both IYW and SPY?
IYW 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 IYW and SPY?
IYW and SPY share 64 common holdings with a 43.2% weight overlap. Combined, they hold 589 unique securities.
Which pays a higher dividend, IYW or SPY?
IYW yields 0.10% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.