IAI vs SPY
Comparison between ISHARES U.S. BROKER-DEALERS & SECURITIES EXCHANGES ETF (IAI, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceIAI has outperformed SPY, delivering a return of +13.9% compared to +13.3%
IAI vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
IAI
$1.50B
Winner
SPY
$652B
Expense Ratio
IAI
0.38%
Winner
SPY
0.09%
Max Drawdown
IAI
75.80%
Winner
SPY
56.47%
Sharpe Ratio
IAI
1.04
Winner
SPY
2.07
5Y Beta
IAI
1.07
Winner
SPY
1.00
P/E Ratio
Winner
IAI
20.90
SPY
28.24
Forward P/E
Winner
IAI
18.51
SPY
21.85
PEG Ratio
IAI
0.50
SPY
N/A
5Y Dividends CAGR
Winner
IAI
14.27%
SPY
5.43%
5Y EPS CAGR
IAI
13.87%
Winner
SPY
25.79%
Debt to Equity
IAI
68.65%
Winner
SPY
22.35%
P/S Ratio
Winner
IAI
3.14
SPY
3.55
P/B Ratio
Winner
IAI
3.55
SPY
5.29
IAI vs SPY - Holdings Comparison
IAI and SPY have 16 common holdings. Overlap is 2.16%
IAI's top 25 holdings weight is 97.47%. SPY's top 25 holdings weight is 51.32%.
| Rank | IAI | SPY |
|---|---|---|
| #1 | THE GOLDMAN SACHS GROUP INC (GS) - 18.59% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | MORGAN STANLEY (MS) - 15.32% | APPLE INC (AAPL) - 6.48% |
| #3 | CHARLES SCHWAB CORP (SCHW) - 10.15% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | ROBINHOOD MARKETS INC CLASS A (HOOD) - 4.37% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | MOODYS CORP (MCO) - 4.30% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | S&P GLOBAL INC (SPGI) - 4.23% | BROADCOM INC (AVGO) - 3.09% |
| #7 | MSCI INC (MSCI) - 4.22% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | INTERCONTINENTAL EXCHANGE INC (ICE) - 4.17% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | COINBASE GLOBAL INC ORDINARY SHARES CLASS A (COIN) - 4.09% | TESLA INC (TSLA) - 1.73% |
| #10 | NASDAQ INC (NDAQ) - 3.96% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | CME GROUP INC CLASS A (CME) - 3.93% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | INTERACTIVE BROKERS GROUP INC CLASS A (IBKR) - 3.33% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | CBOE GLOBAL MARKETS INC (CBOE) - 3.07% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | RAYMOND JAMES FINANCIAL INC (RJF) - 2.64% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | LPL FINANCIAL HOLDINGS INC (LPLA) - 2.58% | WALMART INC (WMT) - 0.91% |
| #16 | EVERCORE INC CLASS A (EVR) - 1.27% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | TRADEWEB MARKETS INC (TW) - 1.25% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | STIFEL FINANCIAL CORP (SF) - 1.16% | VISA INC CLASS A (V) - 0.85% |
| #19 | HOULIHAN LOKEY INC CLASS A (HLI) - 0.84% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | FACTSET RESEARCH SYSTEMS INC (FDS) - 0.83% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | JEFFERIES FINANCIAL GROUP INC (JEF) - 0.77% | INTEL CORP (INTC) - 0.65% |
| #22 | STONEX GROUP INC (SNEX) - 0.71% | NETFLIX INC (NFLX) - 0.64% |
| #23 | PIPER SANDLER COS (PIPR) - 0.58% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | MARKETAXESS HOLDINGS INC (MKTX) - 0.58% | CHEVRON CORP (CVX) - 0.58% |
| #25 | LAZARD INC (LAZ) - 0.53% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 37 | 505 |
IAI vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
IAI
+2.87%
Winner
SPY
+9.11%
3M
IAI
-1.69%
Winner
SPY
+6.59%
6M
IAI
+2.39%
Winner
SPY
+10.56%
1Y
IAI
+22.25%
Winner
SPY
+32.04%
5Y(CAGR)
Winner
IAI
+13.95%
SPY
+13.35%
10Y(CAGR)
Winner
IAI
+18.89%
SPY
+15.49%
Max(CAGR)
IAI
+8.03%
Winner
SPY
+8.50%
IAI vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | IAI | SPY |
|---|---|---|
| 2026 | -1.97% | +8.27% |
| 2025 | +25.49% | +18.00% |
| 2024 | +35.52% | +25.59% |
| 2023 | +14.79% | +26.72% |
| 2022 | -11.75% | -18.64% |
| 2021 | +41.17% | +30.52% |
| 2020 | +17.15% | +17.28% |
| 2019 | +23.36% | +31.09% |
| 2018 | -9.42% | -5.24% |
| 2017 | +27.80% | +20.78% |
| 2016 | +24.66% | +13.59% |
| 2015 | -0.96% | +1.31% |
| 2014 | +12.35% | +14.56% |
| 2013 | +61.82% | +29.00% |
| 2012 | +13.26% | +14.17% |
| 2011 | -28.09% | +0.85% |
| 2010 | +2.58% | +13.14% |
| 2009 | +39.54% | +22.67% |
| 2008 | -59.22% | -36.25% |
| 2007 | -5.34% | +5.32% |
| 2006 | +5.67% | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
IAI vs SPY Drawdown Comparison
The maximum drawdown for IAI was -75.46%, occurring on Nov 20, 2008. Recovery took 2385 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current IAI drawdown is -6.39%.
| Rank | IAI | SPY |
|---|---|---|
| #1 | -75.46% Jun 20, 2007 - Dec 7, 2016 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -40.38% Feb 20, 2020 - Nov 23, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -28.84% Nov 2, 2021 - Mar 4, 2024 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -23.98% Mar 12, 2018 - Nov 25, 2019 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -23.14% Feb 18, 2025 - Jun 18, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -19.73% May 9, 2006 - Oct 5, 2006 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -16.52% Jan 15, 2026 - Mar 27, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -12.16% Feb 7, 2007 - Jun 15, 2007 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -9.18% Jan 12, 2021 - Feb 16, 2021 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -8.41% Mar 1, 2017 - Jun 28, 2017 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -8.12% Feb 1, 2018 - Mar 6, 2018 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -7.77% Nov 27, 2024 - Jan 21, 2025 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -7.07% Aug 27, 2021 - Oct 15, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -7.01% Jul 26, 2024 - Aug 16, 2024 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -6.97% Nov 12, 2025 - Dec 9, 2025 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between IAI and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.
0.98
-101
Dividend Comparison (1999 - 2026)
IAI vs SPY dividend yield comparison.
| Year | IAI | SPY |
|---|---|---|
| 2026 | 0.39% | 0.24% |
| 2025 | 0.95% | 1.07% |
| 2024 | 1.05% | 1.21% |
| 2023 | 1.80% | 1.40% |
| 2022 | 2.14% | 1.65% |
| 2021 | 1.31% | 1.20% |
| 2020 | 1.55% | 1.52% |
| 2019 | 1.52% | 1.75% |
| 2018 | 1.58% | 2.04% |
| 2017 | 1.37% | 1.80% |
| 2016 | 1.49% | 2.03% |
| 2015 | 1.31% | 2.06% |
| 2014 | 1.13% | 1.87% |
| 2013 | 1.13% | 1.81% |
| 2012 | 2.97% | 2.18% |
| 2011 | 1.25% | 2.05% |
| 2010 | 1.62% | 1.80% |
| 2009 | 0.57% | 1.95% |
| 2008 | 2.28% | 3.02% |
| 2007 | 0.68% | 1.85% |
| 2006 | 0.20% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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