What is the expense ratio of IBIT vs SPY?

IBIT has an expense ratio of 0.25%, while SPY has an expense ratio of 0.09%.

IBIT vs SPY

iShares Bitcoin Trust ETF vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-02

iShares Bitcoin Trust ETF (IBIT) is an exchange-traded fund that provides exposure to cryptocurrency securities. It charges a moderate expense ratio of 0.25%. Launched in 2024, the fund has a 2-year track record.

AUM: $51.9B ER: 0.25% Yield: N/A Since: Jan 5, 2024

SPY State Street

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by State Street that provides exposure to large-cap U.S. equities across growth and value styles. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.13%. Launched in 1993, the fund has a 33-year track record.

AUM: $636.7B ER: 0.09% Yield: 1.13% Since: Jan 22, 1993

Quick Verdict

SPY is significantly cheaper at 0.09% vs 0.25% expense ratio, saving you approximately $315 per $10,000 invested over 10 years. Over the past year, SPY has significantly outperformed with a 16.8% return vs -20.0%.

Key Metrics

Metric	IBIT	SPY
Expense Ratio	0.25%	0.09%
Dividend Yield	N/A	1.1%
Fund Family	N/A	State Street
Category	Cryptocurrency	US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

IBIT +45.1%

SPY +61.2%

Performance Comparison

Period	IBIT	SPY	Difference
1 Month	-1.42%	-4.54%	+3.12%
3 Months	-24.15%	-4.09%	-20.06%
6 Months	-44.65%	-2.09%	-42.56%
YTD	-24.15%	-4.09%	-20.06%
1 Year	-20.00%	+16.80%	-36.80%
3 Years	+45.10%	+59.45%	-14.35%
5 Years	+45.10%	+61.25%	-16.15%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment	Period	IBIT Fees	SPY Fees	You Save
$10.000	10 years	$495	$179	$315
$10.000	20 years	$2.111	$771	$1.340
$10.000	30 years	$6.758	$2.486	$4.273
$50.000	10 years	$2.473	$896	$1.577
$50.000	30 years	$33.792	$12.428	$21.364
$100.000	30 years	$67.584	$24.855	$42.729

Risk Metrics

Based on 5 years of daily returns

Metric	IBIT	SPY
Annualized Volatility	51.2%	17.1%
Max Drawdown	-49.4%	-25.4%
Sharpe Ratio	0.50	0.38

Dividend Comparison

Metric	IBIT	SPY
Annual Dividend (per share)	$0.00	$7.38
Dividend Yield	0.00%	1.13%
Distribution Frequency	None	Quarterly

Top Holdings

0 of top 2 holdings overlap (0% overlap in top holdings)

IBIT Top Holdings

Name	Weight
Grayscale Bitcoin Mini Trust ETF#BTC	100.00%
USD CASHUSD	0.00%

SPY Top Holdings

Name	Weight
NVIDIA CorporationNVDA	7.58%
Apple Inc.AAPL	6.66%
Microsoft CorporationMSFT	4.91%
Amazon.com, Inc.AMZN	3.64%
Broadcom Inc.AVGO	2.62%
Alphabet Inc.GOOG	2.40%
Meta Platforms, Inc.META	2.24%
Tesla, Inc.TSLA	1.87%
Berkshire Hathaway Inc.BRK.B	1.57%

Which One Should You Choose?

Choose SPY if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose SPY if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

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