IVV vs SPY: Grades, Fees and Holdings Compared

iShares Core S&P 500 ETF

IVVANYSE Arca

State Street SPDR S&P 500 ETF

SPYANYSE Arca

Overlap

98.7%by weight

Both track S&P 500 Index

Expense ratio

IVV −0.06pt a year

IVV0.03%SPY0.09%

Avg volume · 30D

SPY 7.1×the volume

IVV6.23MSPY44M

10Y return · a year

IVV +0.1pt

IVV+15.5%SPY+15.4%

IVV vs SPY Performance

Nov 2, 2021 – Nov 2, 2026

+74.6%IVV+74.1%SPY

Expense ratio: IVV 0.03%, better; SPY 0.09%
Fund size: IVV $870B; SPY $814B
1Y total return: IVV +11.5%; SPY +11.5%
Yield (12M): IVV 1.11%, better; SPY 1.01%
Holdings: IVV 507; SPY 505
Avg volume (30D): IVV 6.23M sh; SPY 44M sh, better
NAV per share: IVV $758.95; SPY $769.51
52W range

ETF.net Grade

Pillar letters and Scores for IVV, SPY, with each pillar’s weight
Pillar	IVV	SPY
Cost30% weight	A84Higher	C47
Mission25% weight	A100	A100
Risk15% weight	C51	C51
Tradability15% weight	A78	A93Higher
Holdings10% weight	B58Higher	B55
Durability5% weight	A86Higher	A83

Rank among S&P 500 funds

How we build Categories ›

Same Category. IVV and SPY are both graded against the same 14 S&P 500 funds, so their Grades compare head to head.

S&P 500⁠

Category · 14 funds

See all 14 ›

IVV ranks 2nd and SPY 5th of 14 funds in the S&P 500 Category.

Rank 1ASPYMState Street SPDR Portfolio S&P 500 ETFScore 82
Rank 2AIVViShares Core S&P 500 ETFScore 79
Rank 3AVOOVanguard S&P 500 ETFScore 74
Rank 4AUSPXFranklin U.S. Equity Index ETFScore 72
Rank 5ASPYState Street SPDR S&P 500 ETFScore 70
Rank 6BSTXFStrive 500 ETFScore 66

Our read on each fund

ETF.net Research

IVVAiShares Core S&P 500 ETF

SPYAState Street SPDR S&P 500 ETF

In short

IVV The 2000-vintage iShares take on the S&P 500, now a $100B-plus cornerstone holding: roughly 500 large US companies, 0.03% a year, and tracking that stays tight to the index.

SPY The 1993 original, and still the ticker the market trades through. Same roughly 500 S&P 500 names as its cheaper cousins; the edge here is the crowd around it, not the fee.

Stated mandate

IVV The fund seeks to track the investment results of an index made up of large-capitalization U.S. equities.

SPY The fund seeks to track, before expenses, the price and yield performance of the S&P 500 Index.

Why people hold it

IVV Costs 0.03% a year, a fraction of the typical fee among S&P 500 trackers, and undercuts the category's founding fund (SPY, 0.09%) on the same index.
Tracking is the whole job, and it does it about as tightly as this peer group gets: roughly 500 large US companies, no manager discretion bolted on.
A $100B-plus fund that trades heavily all session, which is what keeps bid-ask spreads thin for retail-sized orders and institutional blocks alike.
Running since 2000 as a registered open-end fund, with quarterly distributions and one of the longest live records in the S&P 500 aisle.ishares.com

SPY One of the most heavily traded funds in the market, and one of the largest. That depth is why desks treat it as the default way to move S&P 500 exposure.
Its stated job is to track the S&P 500 before expenses, and it hews to that benchmark about as closely as anything in its peer group.
At 0.09% a year it still undercuts the typical S&P 500 wrapper in its cohort, and it lands in the upper half of that group overall.

Worth knowing

IVV Pure US large cap. No mid caps, no small caps, nothing overseas, so it works as one slab of a portfolio rather than the whole thing.
It rides the index in both directions: when the S&P 500 has an ugly year, this has the same ugly year, minus the fee.
A near-identical rival shaves a basis point (SPYM at 0.02%). On $10,000 that gap is about a dollar a year, so structure and trading habits matter more.

SPY That liquidity has a price: VOO, IVV and SPYM track the same index for a few basis points, and the fee gap compounds over a long hold.
It is a unit investment trust, the older 1993-vintage wrapper: it holds the index as declared and pays dividends out on a quarterly schedule.
About 500 stocks, cap-weighted, so the largest companies carry the most weight; equal-weight takes on the same index, like RSP, spread it differently.

Full IVV profile⁠

Full SPY profile⁠

IVV vs SPY Holdings

How IVV and SPY differ

Overlap by weight

98.7%

Shared holdings make up 99.9% of SPY and 99.9% of IVV.

Level by level

Holdings503 in both98.7%
Asset classEquity100%
Countryby domicile100%
Sector11 Sectors100%

Sector

Sector weights in IVV and SPY, widest gap first
Sector	More in IVVMore in SPY	IVV	SPY
Energy	Same weight	3.7%	3.7%
Consumer Staples	SPY +0.1 points	4.7%	4.8%
Financials	Same weight	11.8%	11.8%
Technology	Same weight	38.6%	38.6%
Utilities	Same weight	2.0%	2.0%
Real Estate	Same weight	1.7%	1.7%
Materials	Same weight	1.7%	1.7%
Industrials	Same weight	8.0%	8.0%
Health Care	Same weight	9.8%	9.8%
Communication	Same weight	8.9%	8.9%
Consumer Discretionary	Same weight	9.0%	9.0%

Country, concentration and asset class

Country by domicile

Country weights in IVV and SPY, widest gap first
Country	More in IVVMore in SPY	IVV	SPY
United States	IVV +0.1 points	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	SPY +0.1 points	0.0%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

IVV37.3%
SPY37.4%

Securities held

IVV504
SPY504

Asset class

IVV: Equity
SPY: Equity

Holdings

Only in IVV1
In both503
Only in SPY1

Only in IVV

1 security, 0.0% of IVV by weight

Hologic Inc0.00%

Only in SPY

1 security, 0.0% of SPY by weight

Contra Hologic Incorpo0.00%

Weight gaps

The 100 widest of 503 Holdings in both funds.

Holding weights in IVV and SPY, widest gap first
Holding	More in IVVMore in SPY	IVV	SPY
NVIDIANVDA	SPY +0.19 points	7.58%	7.77%
Intel CorporationINTC	SPY +0.19 points	0.50%	0.69%
Advanced Micro DevicesAMD	SPY +0.13 points	1.26%	1.39%
Broadcom IncAVGO	SPY +0.10 points	2.37%	2.47%
Eli LillyLLY	IVV +0.09 points	1.74%	1.65%
Micron TechnologyMU	SPY +0.06 points	1.53%	1.59%
Exxonmobil Holdings CorpXOM	IVV +0.05 points	1.18%	1.13%
AppleAAPL	IVV +0.04 points	7.70%	7.66%
SandiskSNDK	SPY +0.03 points	0.26%	0.29%
Palantir Technologies Class APLTR	SPY +0.03 points	0.65%	0.68%
WalmartWMT	IVV +0.03 points	0.84%	0.81%
Applied Material IncAMAT	SPY +0.03 points	0.47%	0.50%
Berkshire Hathaway Inc Class BBRK.B	IVV +0.03 points	1.55%	1.52%
QualcommQCOM	SPY +0.03 points	0.27%	0.30%
Visa Class AV	IVV +0.03 points	1.08%	1.05%
AbbVieABBV	IVV +0.03 points	0.80%	0.77%
Marvell TechnologyMRVL	SPY +0.03 points	0.26%	0.29%
ChevronCVX	IVV +0.02 points	0.71%	0.69%
Costco Wholesale CorpCOST	IVV +0.03 points	0.69%	0.66%
Merck & Co IncMRK	IVV +0.02 points	0.56%	0.54%
Lam ResearchLRCX	SPY +0.02 points	0.46%	0.48%
Dell Technologies Inc Class CDELL	SPY +0.02 points	0.20%	0.22%
Arista NetworksANET	SPY +0.02 points	0.27%	0.29%
Regeneron PharmaceuticalsREGN	IVV +0.02 points	0.14%	0.12%
Coca-ColaKO	IVV +0.02 points	0.56%	0.54%
OracleORCL	SPY +0.01 points	0.35%	0.36%
Mastercard Class AMA	IVV +0.02 points	0.79%	0.77%
Tesla IncTSLA	IVV +0.01 points	1.72%	1.71%
Seagate Technology Holdings PLCSTX	SPY +0.02 points	0.22%	0.24%
Gilead SciencesGILD	IVV +0.01 points	0.32%	0.31%
Accenture PLC Class AACN	IVV +0.01 points	0.24%	0.23%
Linde PLCLIN	IVV +0.01 points	0.36%	0.35%
Procter & GamblePG	IVV +0.01 points	0.57%	0.56%
Cisco Systems IncCSCO	SPY +0.01 points	0.63%	0.64%
Datadog Inc Class ADDOG	SPY +0.01 points	0.12%	0.13%
KlaKLAC	SPY +0.01 points	0.32%	0.33%
Amazon.com IncAMZN	IVV +0.01 points	3.61%	3.60%
ConocophillipsCOP	IVV +0.01 points	0.28%	0.27%
MicrosoftMSFT	IVV +0.01 points	5.93%	5.92%
Western Digital CorpWDC	SPY +0.01 points	0.20%	0.21%
PepsicoPEP	IVV +0.02 points	0.29%	0.27%
Verizon Communications IncVZ	IVV +0.01 points	0.28%	0.27%
Illumina IncILMN	SPY +0.02 points	0.05%	0.07%
Amgen IncAMGN	IVV +0.02 points	0.39%	0.37%
Vertex PharmaceuticalsVRTX	IVV +0.01 points	0.22%	0.21%
Johnson & JohnsonJNJ	IVV +0.01 points	1.01%	1.00%
DeereDE	IVV +0.01 points	0.26%	0.25%
Palo Alto NetworksPANW	SPY +0.01 points	0.46%	0.47%
Eaton PLCETN	SPY +0.01 points	0.22%	0.23%
Crowdstrike Holdings Class ACRWD	SPY +0.01 points	0.39%	0.40%
Valero Energy CorpVLO	IVV +0.01 points	0.18%	0.17%
Caterpillar IncCAT	SPY +0.01 points	0.44%	0.45%
PfizerPFE	IVV +0.01 points	0.27%	0.26%
Nextera EnergyNEE	IVV +0.01 points	0.27%	0.26%
Abbott LaboratoriesABT	IVV +0.01 points	0.28%	0.27%
Ge AerospaceGE	SPY +0.01 points	0.48%	0.49%
Home DepotHD	IVV +0.01 points	0.50%	0.49%
Philip Morris InternationalPM	IVV +0.01 points	0.50%	0.49%
Applovin Class AAPP	SPY +0.01 points	0.09%	0.10%
Alphabet Class AGOOGL	IVV +0.01 points	2.51%	2.50%
Phillips 66PSX	IVV +0.01 points	0.17%	0.16%
AT&TT	Same weight	0.22%	0.22%
T Mobile Us IncTMUS	IVV +0.01 points	0.12%	0.11%
Lumentum HoldingsLITE	SPY +0.01 points	0.11%	0.12%
Marathon PetroleumMPC	IVV +0.01 points	0.19%	0.18%
RtxRTX	IVV +0.01 points	0.41%	0.40%
Twilio Class ATWLO	SPY +0.01 points	0.05%	0.06%
Reddit Class ARDDT	SPY +0.01 points	0.02%	0.03%
Automatic Data Processing IncADP	IVV +0.01 points	0.18%	0.17%
StrykerSYK	Same weight	0.16%	0.16%
Intercontinental Exchange IncICE	Same weight	0.14%	0.14%
Comcast Class ACMCSA	IVV +0.01 points	0.13%	0.12%
Goldman Sachs GroupGS	SPY +0.01 points	0.40%	0.41%
Mondelez International Class AMDLZ	IVV +0.01 points	0.13%	0.12%
NetflixNFLX	IVV +0.01 points	0.40%	0.39%
Texas InstrumentTXN	SPY +0.01 points	0.42%	0.43%
CoherentCOHR	SPY +0.01 points	0.06%	0.07%
IntuitINTU	Same weight	0.14%	0.14%
Cme Group Class ACME	IVV +0.01 points	0.17%	0.16%
Bloom Energy Class ABE	SPY +0.01 points	0.09%	0.10%
Bristol Myers SquibbBMY	IVV +0.01 points	0.20%	0.19%
Altria Group IncMO	IVV +0.01 points	0.20%	0.19%
Union PacificUNP	IVV +0.01 points	0.28%	0.27%
Analog DevicesADI	SPY +0.01 points	0.31%	0.32%
S&P GlobalSPGI	IVV +0.01 points	0.22%	0.21%
WelltowerWELL	IVV +0.01 points	0.26%	0.25%
Johnson Controls International PLCJCI	Same weight	0.14%	0.14%
Alphabet Class CGOOG	Same weight	2.02%	2.02%
Robinhood Markets Class AHOOD	SPY +0.01 points	0.10%	0.11%
International Business Machines CoIBM	Same weight	0.37%	0.37%
Ge VernovaGEV	SPY +0.01 points	0.35%	0.36%
Hewlett Packard EnterpriseHPE	SPY +0.01 points	0.11%	0.12%
Mcdonalds CorpMCD	IVV +0.01 points	0.28%	0.27%
Mckesson CorpMCK	IVV +0.01 points	0.18%	0.17%
Vertiv Holdings Class AVRT	Same weight	0.14%	0.14%
Freeport Mcmoran IncFCX	Same weight	0.14%	0.14%
Amphenol Corp Class AAPH	Same weight	0.30%	0.30%
MarshMRSH	IVV +0.01 points	0.15%	0.14%
Eog ResourcesEOG	Same weight	0.13%	0.13%
Walt DisneyDIS	Same weight	0.29%	0.29%

All 505 IVV holdings⁠All 504 SPY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IVV vs SPY Cost

Overpaying SPY vs IVV

$1,260

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IVV 0.03%
$638
SPY 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

IVV 0.03%
SPY 0.09%
Overpaying

Year by year

Year	IVV	SPY	Overpaying
10	$55	$165	$110
20	$216	$646	$430
30	$638	$1,898	$1,260

Expense ratio

0.03%IVV, cheaper
0.09%SPY

IVV0.03%SPY0.09%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

IVV 2nd cheapest of 14 funds

SPY 7th cheapest of 14 funds

IVV vs SPY Dividends

Last 12 months to Nov 2, 2026

Yield (12M): IVV 1.11%, better; SPY 1.01%
Payout (12M): IVV $8.40; SPY $7.58
Last payment: IVV $2.20; SPY $1.89
Ex-dividend: IVV Sep 15, 2026; SPY Sep 18, 2026
Paid on: IVV Sep 18, 2026; SPY Oct 30, 2026
Frequency: IVV Quarterly; SPY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVVQuarterly · 40 paymentsAll IVV payments⁠

SPYQuarterly · 39 paymentsAll SPY payments⁠

IVV vs SPY Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IVV 12.3%SPY 12.3%
Return per unit of riskSharpe ratio, 3 years: IVV 1.42SPY 1.42
Worst fallMax drawdown, 5 years: IVV −24.5%SPY −24.5%
Market sensitivityBeta, 5 years: IVV 1.00SPY 1.01; Market = 1

IVV and SPY in the news

All news⁠

New ETFs
C.J. Lawrence's new 0.75% ETF hedges a band J.P. Morgan already covers at 0.50%
Nov 2, 2026IVVSPY
Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026IVVSPY
Deep Dive
SPY vs. SPYM, VOO, and IVV: Why SPY trails cheaper S&P 500 ETFs
Oct 29, 2026IVVSPY
Category Review
International high-yield funds beat the S&P 500. Foreign stocks did not.
Updated Nov 3, 2026SPY
Top Movers
Oil plunges on Iran talks as tech stocks fall again
Nov 2, 2026SPY
Closing Bell
S&P 500 falls 0.5% as tech losses outweigh oil’s 7% drop
Nov 2, 2026SPY

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IVV vs SPY

In short

Stated mandate

Why people hold it