IGOV vs SPY

Comparison between ISHARES INTERNATIONAL TREASURY BOND ETF (IGOV, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed IGOV, delivering a return of +13.3% compared to -4.1%

IGOV vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	IGOV(ETF)	SPY(ETF)
Net Assets	$1.10B	$652B
Expense Ratio	0.35%	0.09%
Max Drawdown	36.13%	56.47%
Sharpe Ratio	-0.08	2.07
5Y Beta	0.04	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	36.94%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

IGOV

$1.10B

Winner

SPY

$652B

Expense Ratio

IGOV

0.35%

Winner

SPY

0.09%

Max Drawdown

Winner

IGOV

36.13%

SPY

56.47%

Sharpe Ratio

IGOV

-0.08

Winner

SPY

2.07

5Y Beta

Winner

IGOV

0.04

SPY

1.00

P/E Ratio

IGOV

N/A

SPY

28.24

Forward P/E

IGOV

N/A

SPY

21.85

5Y Dividends CAGR

Winner

IGOV

36.94%

SPY

5.43%

5Y EPS CAGR

IGOV

N/A

SPY

25.79%

Debt to Equity

IGOV

N/A

SPY

22.35%

P/S Ratio

IGOV

N/A

SPY

3.55

P/B Ratio

IGOV

N/A

SPY

5.29

IGOV vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	IGOV	SPY
1 month	+1.42%	+9.11%
3 months	-1.01%	+6.59%
6 months	+1.76%	+10.56%
1 year	+4.03%	+32.04%
5 years(CAGR)	-4.07%	+13.35%
10 years(CAGR)	-1.08%	+15.49%
Max(CAGR)	+0.26%	+8.50%

IGOV

+1.42%

Winner

SPY

+9.11%

IGOV

-1.01%

Winner

SPY

+6.59%

IGOV

+1.76%

Winner

SPY

+10.56%

IGOV

+4.03%

Winner

SPY

+32.04%

5Y(CAGR)

IGOV

-4.07%

Winner

SPY

+13.35%

10Y(CAGR)

IGOV

-1.08%

Winner

SPY

+15.49%

Max(CAGR)

IGOV

+0.26%

Winner

SPY

+8.50%

IGOV vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	IGOV	SPY
2026	+1.61%	+8.27%
2025	+10.63%	+18.00%
2024	-5.33%	+25.59%
2023	+5.84%	+26.72%
2022	-21.24%	-18.64%
2021	-9.40%	+30.52%
2020	+10.97%	+17.28%
2019	+3.91%	+31.09%
2018	-2.64%	-5.24%
2017	+12.94%	+20.78%
2016	+0.81%	+13.59%
2015	-7.05%	+1.31%
2014	-2.08%	+14.56%
2013	-1.56%	+29.00%
2012	+4.83%	+14.17%
2011	+1.55%	+0.85%
2010	+0.94%	+13.14%
2009	+9.79%	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+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%

IGOV vs SPY Drawdown Comparison

The maximum drawdown for IGOV was -35.88%, occurring on Oct 20, 2022. This drawdown has not yet recovered.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current IGOV drawdown is -22.49%.

Rank	IGOV	SPY
#1	-35.88% Jan 5, 2021 - Oct 20, 2022	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-15.77% Jul 1, 2014 - Mar 26, 2018	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-14.59% Dec 1, 2009 - Oct 6, 2010	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-11.09% Mar 9, 2020 - Jul 27, 2020	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-10.93% Aug 17, 2011 - Apr 10, 2014	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-9.49% Mar 26, 2018 - Mar 6, 2020	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-9.08% Oct 14, 2010 - Apr 29, 2011	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-4.51% Feb 9, 2009 - Mar 18, 2009	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-4.27% Mar 19, 2009 - May 13, 2009	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-3.90% Jun 3, 2011 - Jul 26, 2011	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-3.59% Apr 29, 2011 - Jun 3, 2011	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-3.02% Jun 2, 2009 - Jul 1, 2009	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-2.36% Aug 6, 2020 - Oct 27, 2020	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-2.29% Oct 8, 2009 - Nov 25, 2009	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-2.28% Aug 5, 2009 - Aug 27, 2009	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between IGOV and SPY is -0.39 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.39

-101

Dividend Comparison (1999 - 2026)

IGOV vs SPY dividend yield comparison.

Year	IGOV	SPY
2026	0.00%	0.24%
2025	1.41%	1.07%
2024	0.59%	1.21%
2023	0.00%	1.40%
2022	0.11%	1.65%
2021	0.39%	1.20%
2020	0.00%	1.52%
2019	0.24%	1.75%
2018	0.31%	2.04%
2017	0.19%	1.80%
2016	0.69%	2.03%
2015	0.12%	2.06%
2014	1.28%	1.87%
2013	1.32%	1.81%
2012	2.13%	2.18%
2011	4.05%	2.05%
2010	2.26%	1.80%
2009	1.94%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	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%