Compare/Updated Oct 26, 2026, refreshed every trading day
IVV vs SPY
iShares Core S&P 500 ETF against State Street SPDR S&P 500 ETF: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
IVV did slightly better than SPY over the period: $1,000 invested on October 28, 2022 would be worth $2,064 versus $2,052, a 106.4% versus 105.2% total return. IVV also led across the 3-month, 6-month, YTD, 1-year, and 3-year periods, while SPY was marginally better over one month. The difference matters mainly because IVV charges a lower expense ratio—0.03% versus 0.09%—which supports a modest long-term advantage despite nearly identical portfolios. Risk was effectively the same: both had 12.7% volatility over the last 12 months and a worst drawdown of 18.8% from February 19, 2025 to April 8, 2025. Their daily-move correlation was 0.999, so the choice is primarily about cost, liquidity preferences, and trading use rather than materially different exposure.
- Price is above its 200-day average ($727); 50-day at $770.
- RSI 42, neutral. Supertrend says sell. ADX 14, so the trend is weak.
- Price is above its 200-day average ($725); 50-day at $767.
- RSI 42, neutral. Supertrend says sell. ADX 14, so the trend is weak.
Head to head
Which has returned more, IVV or SPY?
IVV beat SPY in 24 of the last 48 months; SPY won the other 24. The typical monthly gap was 0.04 points.
Total return by period
Which is riskier?
Both: Feb 19, 2025 to Apr 8, 2025
- 0.999
- correlation of daily moves, 4 years
- 0.98
- IVV move per 1% in SPY
- 0.999
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.04 points.
When did they diverge?
| Month | IVV | SPY | Gap |
|---|---|---|---|
| August 2026 | +2.7% | +2.4% | +0.30 pts |
| June 2026 | -1.2% | -1.0% | -0.17 pts |
| April 2025 | -0.7% | -0.9% | +0.17 pts |
| July 2026 | +0.2% | +0.0% | +0.16 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with IVV and SPY?
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