iShares S&P 500 ETF vs State Street SPDR S&P 500 ETF Trust
Overlap is estimated from the funds' listed top holdings, not their full constituent lists. Where there are no shared listed holdings it is shown as not reliably estimable.
IVV and SPY both track the S&P 500 Index of 500 large US companies, so their underlying holdings are nearly identical.
iShares S&P 500 ETF
BlackRock (iShares)
State Street SPDR S&P 500 ETF Trust
State Street (SPDR)
Comparison scores reflect how each ETF compares to the other on these specific dimensions only. They are not absolute ratings or recommendations.
Key differences at a glance
Which of IVV and SPY fits depends on your objectives, not on one being superior. Where the two funds differ most:
Category scores compare these two ETFs only and are not absolute ratings.
IVV has the lower management fee - the one objective "cheaper" axis.
IVV is the larger fund. Larger is not inherently better, but greater scale can support tighter spreads and lower closure risk.
IVV and SPY offer similar breadth of exposure.
IVV distributes approximately 1.1% and SPY approximately 1%; IVV carries the higher estimated distribution yield. A higher yield may suit an income focus; a lower one may suit a growth or tax-efficiency focus. Yields are estimates and are not guaranteed; past performance is not a reliable indicator of future returns.
Green highlights the factually lower fee or higher scale/income figure. Performance is never highlighted. Data from issuer disclosures, reviewed quarterly.
Yield figures are estimates based on recent distributions and may vary. Past distributions are not a reliable indicator of future distributions.
Past performance is not a reliable indicator of future returns.
Top shared holdings ranked by overlap contribution, the smaller of each company's weight in the two funds. Basis: estimated, limited data.
Top 10 listed holdings for each fund, from issuer disclosures.
IVV top holdings
SPY top holdings
Based on each fund's most recently published sector and geographic weightings; figures are approximate. Full breakdowns are shown below.
IVV sectors
SPY sectors
IVV geography
SPY geography
IVV and SPY both track the S&P 500 Index of 500 large US companies, so their underlying holdings are nearly identical. The main practical difference is cost: IVV (iShares) carries a lower management fee than SPY (SPDR) on the ASX. The US-listed SPY is the world's largest ETF by assets, a brand association some investors value.
IVV generally suits cost-focused investors wanting S&P 500 exposure at the lower fee, while SPY generally suits investors who specifically prefer the SPDR S&P 500 product and its brand and liquidity association.
IVV and SPY have approximately 93% estimated holdings overlap (estimated, limited data). This is considered high overlap, estimated from listed top holdings rather than the full constituent lists.
IVV has the lower management fee. IVV charges 0.04% per year ($4 per year on a $10,000 investment) and SPY charges 0.09% per year ($9 per year on a $10,000 investment). The difference is $5 per year per $10,000 invested.
IVV (iShares S&P 500 ETF) manages approximately $13.4B and SPY (State Street SPDR S&P 500 ETF Trust) manages approximately $389.13M. Fund size can affect liquidity and bid-ask spreads but does not by itself change the management fee.
You can hold both, but with approximately 93% estimated holdings overlap the two funds hold a high proportion of the same companies, so holding both means paying two sets of management fees on largely the same exposure. Whether that suits you depends on your own objectives.
There is no universally right choice. It depends on your goals, time horizon and existing holdings. IVV charges 0.04% and SPY charges 0.09%, so IVV has the lower management fee, and they have approximately 93% estimated holdings overlap. Compare their fees, holdings and sectors above and consider each fund's Product Disclosure Statement and Target Market Determination.
General information only.This comparison and the ETFLens tools on this page provide general information about two exchange-traded funds and do not take into account your personal objectives, financial situation or needs. It is not personal financial product or investment advice. ETFLens does not hold an Australian Financial Services Licence (AFSL). Holdings overlap is calculated from each fund's published holdings (full lists where the issuer publishes one, listed top holdings otherwise), and fee data is sourced from fund manager PDS documents and updated quarterly. Past performance is not a reliable indicator of future returns. Consider each fund's Product Disclosure Statement (PDS) and Target Market Determination (TMD), and seek advice from a registered tax agent or licensed financial adviser, before making investment decisions.
Check your portfolio overlap
See how these ETFs interact with your other holdings.
Open overlap checker →Build your portfolio
ProModel a portfolio with these ETFs and see projected fees and income.
Build a portfolio →Check the CGT cost of switching
ProBefore consolidating overlapping ETFs, model the capital gains tax impact with the ETF Switch Calculator.
Calculate CGT cost →View full ETF profiles
Holdings, fees, sectors and distributions for each fund.
IVV full profile →SPY full profile →Compare another pair
Enter any two ASX ETF tickers to see their side-by-side comparison.
Compare other ETFs →