Which returned more over the last year, SHV or SPY?

In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and SPY +13.6%.

Which is cheaper, SHV or SPY?

SPY is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

SHV vs SPY: Differences, Returns & Fees

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Over the year to Oct 28, 2026, SHV returned +3.6% to SPY's +13.6%; 0% of their weight is in the same names.

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Net assets on Oct 27, 2026: $21.7bn for iShares 0-1 Year Treasury Bond ETF and $814.8bn for SPDR S&P 500 ETF Trust.

SHV on its own →SPY on its own →

At a glance

+3.6%

SHV total return, 1 year

+13.6%

SPY total return, 1 year

0.15%

SHV expense ratio

0.09%

SPY expense ratio

Pair scorecard

SPY costs 0.06 points a year less; their one-year returns differ by 10.0 points; SPY is far larger, $814.8bn against $21.7bn.

SHV vs SPY: Differences, Returns & Fees
Measure	SHV	SPY
Return
Measure	SHV	SPY
Total return, 1 year	+3.6%	+13.6%
Benchmark
Measure	SHV	SPY
What it tracks	ICE Short US Treasury Securities Index	S&P 500 Index
Cost and size
Measure	SHV	SPY
Expense ratio	0.15%	0.09%
Net assets, as of Oct 27, 2026	$21.7bn	$814.8bn
Holdings
Measure	SHV	SPY
Holdings in common	0%
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		38.1%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, SHV and SPY hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first SHV SPY

Only in one fund ↓

Only in SHV

TREASURY BILL 4.98%

TREASURY BILL 4.17%

TREASURY BILL 3.90%

TREASURY BILL 3.72%

TREASURY BILL 3.58%

TREASURY BILL 3.48%

TREASURY BILL 3.35%

TREASURY BILL 3.31%

Only in SPY

NVIDIA CORP 7.92%

APPLE INC 7.61%

MICROSOFT CORP 5.93%

AMAZON.COM INC 3.73%

ALPHABET INC CL A 2.83%

BROADCOM INC 2.45%

ALPHABET INC CL C 2.26%

META PLATFORMS INC CLASS A 2.06%

Check overlap with more funds →

Side by side

SHV iShares 0-1 Year Treasury Bond ETF SPY SPDR S&P 500 ETF Trust

Where it sits Bond ETF Stock ETF

Issuer iShares State Street

What it is Tracks an index of 0-1 Year Treasury Bond Tracks the S&P 500

Total return, 1 year +3.6% +13.6%

Its benchmark over the same days not measured +13.7% (VOO)

Gap to its benchmark not measured −0.1 pts vs VOO

Expense ratio 0.15% 0.09%

Holdings 66 504

Net assets, as of Oct 27, 2026 $21.7bn $814.8bn

SHV and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

SHV

SHV tracks an index of 0-1 Year Treasury Bond. Over the year to Oct 28, 2026 it returned +3.6% with distributions reinvested. The prospectus expense ratio is 0.15% a year.

SPY

SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.

Questions people ask

Which returned more over the last year, SHV or SPY?: In the year to Oct 28, 2026, with distributions reinvested, SHV returned +3.6% and SPY +13.6%.
Which is cheaper, SHV or SPY?: SPY is cheaper, by 0.06 percentage points a year. That is about $6 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

IVV vs SHV SHV vs VTI SHV vs VOO SHV vs SPYM BOXX vs SPY SPY vs VBIL SPY vs VUSB BIL vs SPY

Where to next

SHV on its own →SPY on its own →Hold both: look the portfolio through →Rankings →SHV dividend history →SHV holdings →SPY dividend history →SPY holdings →Standards and sources →

Sources and dates

SHV filings on SEC EDGAR ↗

SHV prospectus with the expense ratio (SEC) ↗

iShares page for SHV ↗

SPY filings on SEC EDGAR ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, SHV against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/shv-vs-spy

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.