SPY vs IVV: Same S&P 500 Index, Different Cost
Same index. Different cost. Here's which one to buy.
For long-term, buy-and-hold investors, IVV is the better pick — it costs 0.03% vs SPY's 0.0945%, which adds up to hundreds of dollars over decades on a typical portfolio. SPY's only real advantage is liquidity: it trades 5–10x more daily volume than IVV, which matters for institutional traders and options strategies, not for someone contributing monthly to a brokerage account.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
Both funds trade commission-free at every major brokerage. Where to buy them →
📋 SPY vs IVV: Key Facts Side by Side
| Metric | SPY | IVV |
|---|---|---|
| Fund Name | State Street SPDR S&P 500 ETF Trust | iShares Core S&P 500 ETF |
| Issuer | State Street | BlackRock |
| Tracks Index | S&P 500 | S&P 500 |
| Expense Ratio | 0.09% | 0.03% ✓ |
| Cost per $10K/yr | $9.45 | $3.00 |
| AUM | $809.2B | $881.3B |
| Holdings | 503 | 503 |
| Inception | 1993 | 2000 |
| 1-Year Return | +17.50% | +17.43% |
| 3-Year Return | +22.99% | +23.07% |
| 5-Year Return | +13.92% | +14.00% |
| Dividend Yield | 0.99% | 1.10% |
| Holdings Overlap | ~100% — both track the S&P 500 — see full overlap → | |
| Avg Bid-Ask Spread | 0.00% | 0.00% |
AUM and returns updated Oct 14, 2026 from ETF BFF database; expense ratios verified against issuer filings. Returns are annualised. Not investment advice.
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📊 SPY vs IVV: Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want focused large-cap US stock exposure via S&P 500
- already use State Street and prefer staying within one fund family
- want the lowest fees: saves ~$6/yr per $10K vs SPY
- want focused large-cap US stock exposure via S&P 500
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
⚙️ Want the Full Interactive Comparison?
Side-by-side holdings overlap, sector breakdown, and live performance tabs, all in one place.
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