DV
Dividend Vision

ETF Comparison

IVV vs SPY: Which Is the Better Pick in 2026?

A head-to-head comparison of iShares Core S&P 500 ETF and SPDR S&P 500 ETF Trust covering yield, cost, risk, and income potential.

Data updated August 19, 2026

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

IVV has outpaced SPY over the trailing twelve months, posting a 20.98% total return against 20.87%. The lead holds up over 10 years too: IVV has compounded at 15.29% a year, against 15.22% for SPY. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1Y3Y5Y10YSince May 2000Volatility Sharpe Sortino Max drawdown
IVV13.22%20.98%22.17%13.44%15.29%8.64%15.0%1.041.50-18.8%
SPY13.17%20.87%22.07%13.37%15.22%8.58%15.3%1.021.47-18.8%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2000” measures every fund from May 19, 2000 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricIVVSPY
Full nameiShares Core S&P 500 ETFSPDR S&P 500 ETF Trust
IssueriSharesState Street
Last Close$770.98 as of August 19, 2026$767.45 as of August 19, 2026
Distribution yield1.04%0.99%
Distribution Safety Score™ 100100
Expense ratio0.03%0.09%
AUM$906B$824B
Distribution frequencyQuarterlyQuarterly
Underlying indexS&P 500 IndexS&P 500 Index
ObjectiveSeeks to track the investment results of an index composed of large-capitalization U.S. equities, measuring the performance of the large-cap sector of the U.S. equity market as determined by S&P Dow Jones Indices.Track the S&P 500 Index before expenses.
Asset classEquityEquity
Inception date05/15/200001/22/1993
Beta1.01.0
Last dividend$1.9956$1.9035
Ex-dividend date06/15/202606/18/2026

Bottom lineIVV and SPY are nearly interchangeable — both track the S&P 500 with very similar cost and risk. The clearest tie-breaker is cost: IVV is cheaper at 0.03% vs 0.09%.

Model this comparison:
Compare in my portfolio Forecast income Save to watchlist

Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

iShares
ETFs473
Total AUM$4710B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.

See our curated list of related YouTube videos on IVV.

See all iShares ETFs
State Street
ETFs180
Total AUM$2169B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.

See our curated list of related YouTube videos on SPY.

See all State Street ETFs

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

Quick verdict

IVV (iShares Core S&P 500 ETF) and SPY (SPDR S&P 500 ETF Trust) are both quarterly-pay dividend ETFs, but they take different approaches.

IVV offers the higher yield at 1.04% vs 0.99% for SPY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

IVV is cheaper with an expense ratio of 0.03% compared to 0.09%.

IVV is the larger fund by assets ($906B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, IVV would generate roughly $8.67/month, while SPY would produce $8.25/month, at current distribution rates. Both pay quarterly distributions.

IVV yield1.04%
SPY yield0.99%
Monthly diff on $10K$0.42

Cost & efficiency

Over 10 years on $10,000, IVV would cost approximately $30 in fees vs $90 for SPY (simplified, not compounded). The $60.00 difference may be offset by yield or performance.

IVV ER0.03%
SPY ER0.09%

Strategy & risk

IVV tracks S&P 500 Index, while SPY tracks S&P 500 Index with a large cap approach.

IVV beta1.0
SPY beta1.0

Fund details

IVV is managed by iShares (launched 05/15/2000) with $906B in assets. SPY is managed by State Street (launched 01/22/1993) with $824B in assets.

IVV AUM$906B
SPY AUM$824B
Ready to act?
Open in Comparator Model in portfolio See pricing

Enjoyed this page?

Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.

Frequently asked questions

What is the current distribution yield for IVV and SPY?

IVV currently distributes 1.04% and SPY 0.99%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is IVV or SPY better for dividend income?

It depends on your goals. IVV currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between IVV and SPY?

IVV (iShares Core S&P 500 ETF) tracks S&P 500 Index, while SPY (SPDR S&P 500 ETF Trust) tracks S&P 500 Index with a large cap approach. They are issued by iShares and State Street respectively.

Can I hold both IVV and SPY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is IVV or SPY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: IVV scores 100, SPY scores 100. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, IVV or SPY?

IVV has an expense ratio of 0.03% while SPY charges 0.09%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in IVV vs SPY generate?

At current rates, $10,000 in IVV would generate roughly $8.67 per month ($104.00 annually). The same in SPY would produce about $8.25 per month ($99.00 annually).

Which has performed better historically, IVV or SPY?

IVV has outpaced SPY over the trailing twelve months, posting a 20.98% total return against 20.87%. The lead holds up over 10 years too: IVV has compounded at 15.29% a year, against 15.22% for SPY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

IVV vs SPY — at a glance

Generated August 15, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

IVV and SPY are both ETFs tracking the S&P 500 Index, offering exposure to 500 large-cap U.S. companies. The key distinction is cost: IVV carries a 0.03% expense ratio while SPY charges 0.10%, a difference that compounds meaningfully over decades of holding. Both have massive scale ($901B and $812B in AUM respectively) and identical beta of 1.0, so performance before fees should track the index almost identically.

How they differ

The primary difference is the expense ratio. IVV's 0.03% annual cost is roughly one-third SPY's 0.10%, translating to roughly $7 per $10,000 invested annually in IVV versus $10 in SPY. Over a 30-year holding period, that gap alone compounds to meaningful underperformance for SPY even if both funds track the index perfectly. Distribution rates are nearly identical (IVV at 1.02%, SPY at 0.98%), with both paying quarterly. IVV was founded in 2000; SPY has been around since 1993 and is the older, more widely traded fund by historical precedent, though AUM favors IVV by $89 billion.

Who each is best for

IVV: Fits investors focused on minimizing total cost of ownership and building long-term core equity positions where fee drag compounds significantly over decades.

SPY: Fits investors prioritizing maximum trading liquidity, name recognition, or those whose brokerage or investment platform may offer superior execution or integrated tools around SPY specifically.

Key risks to know

  • Index concentration risk. Both funds hold the same 500 companies with identical market-cap weighting. Mega-cap technology stocks (Microsoft, Apple, Nvidia, Tesla, Amazon) represent a material fraction of the index; a sector downturn or rotation away from large growth names affects both equally.
  • Expense ratio gap compounds slowly but steadily. The 0.07 percentage-point difference between the two is small in any single year but produces cumulative underperformance for SPY of roughly 2.1% over a 30-year period assuming identical index returns, all else equal.
  • Market-wide equity risk. Both funds move dollar-for-dollar with broad equity market sentiment. Economic recession, rising interest rates, or multiple compression in large-cap growth stocks affect both identically.

Bottom line

If you're building a core S&P 500 holding for the long term, IVV's lower expense ratio provides a measurable cost advantage that compounds over time; if maximum intraday trading volume and established brand familiarity matter to your execution or brokerage workflow, SPY's liquidity edge and longer history may offset its higher fee. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

What the distribution rate really tells you Why a high yield isn't high income How to read a fund's stats

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener