Dividend comparison
IJR vs SPSM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Core S&P Small-Cap ETF and State Street SPDR Portfolio S&P 600 Small Cap ETF, side by side. Updated October 21, 2026.
IJR vs SPSM: key differences
The short answer, from the latest data on this page.
- Fees. SPSM is cheaper at 0.03% a year versus 0.06% for IJR. On $10,000 that is $3 a year less in fees.
- Income. SPSM pays more income, yielding 1.54% over the last twelve months versus 1.24% for IJR. That is about $30 more a year on $10,000. Both pay quarterly.
- Performance. Over the last 5 years, SPSM returned 31.7% versus 31.1% for IJR, with dividends reinvested. $10,000 would have grown to $13,165 in SPSM and $13,105 in IJR.
- Risk. Their worst declines over the last 5 years were similar: -28.0% for IJR and -27.9% for SPSM from peak to trough.
- Diversification. IJR holds 643 positions and SPSM holds 607. The ten largest positions make up 5.5% of IJR and 5.3% of SPSM.
- Overlap. At least 34% of the two portfolios overlap by weight, across 94 shared holdings.
- Dividend growth. SPSM grew its yearly payout 4.8% a year over the last 4 years, versus -0.4% for IJR.
- Size. IJR is the larger fund with $101.7 billion in assets, against $15.5 billion for SPSM.
Bottom line: SPSM has the edge on these figures, with lower fees, more income today and faster dividend growth. IJR does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | IJR iShares Core S&P Small-Cap ETF | SPSM State Street SPDR Portfolio S&P 600 Small Cap ETF |
|---|---|---|
| Dividend yield (TTM) | 1.24% | 1.54% |
| Dividend / share (TTM) | $1.71 | $0.82 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.5094 on Sep 18, 2026 | $0.2202 on Sep 23, 2026 |
| Ex-dividend date | Sep 15, 2026 | Sep 21, 2026 |
| Dividend growth (CAGR) | -0.4% over 4 yrs | 4.8% over 4 yrs |
| Price | $137.66 | $53.53 |
| Dividend growth streak | 3 years | — |
| Beta | 1.04 | 1.04 |
| Max drawdown (5Y) | -28.0% | -27.9% |
| Market cap | $101.92B | $15.52B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.06% | 0.03% |
| Assets under management | $101.74B | $15.53B |
| Number of holdings | 643 | 607 |
| Top 10 concentration | 5.5% | 5.3% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
IJR
$10.34/mo
$124 /yr at 1.24% yield
SPSM
$12.80/mo
$154 /yr at 1.54% yield
Dividend history
Total dividends paid per share in each calendar year. IJR pays quarterly; SPSM pays quarterly.
| Year | IJR | SPSM |
|---|---|---|
| 2025 | $1.7275 | $0.7571 |
| 2024 | $2.3644 | $0.8294 |
| 2023 | $1.4223 | $0.6797 |
| 2022 | $1.3380 | $0.5088 |
| 2021 | $1.7540 | $0.6276 |
Strategy: Small and mid cap
Funds that hold companies below the large-cap tier, where there is more room for growth and less coverage by analysts. Small-cap indexes differ meaningfully: some screen for profitability, some include every listed company, and value-tilted funds lean toward the cheapest names. Those rules drive more of the difference between funds than fees do.
Smaller companies are more sensitive to recessions and borrowing costs, so drawdowns run deeper than in large-cap funds.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,105 in IJR and $13,165 in SPSM.
| Period | IJR | SPSM |
|---|---|---|
| 1 month | -0.89% | -0.89% |
| 3 months | -4.79% | -4.73% |
| Year to date | 15.50% | 15.54% |
| 1 year | 16.74% | 16.80% |
| 3 years | 60.24% | 60.41% |
| 5 years | 31.05% | 31.65% |
- IJR
- SPSM
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- IJR
- SPSM
IJR vs SPSM holdings overlap
At least 34% overlap by weight, with 94 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | IJR weight | SPSM weight |
|---|---|---|
| CORTCORCEPT THERAPEUTICS | 0.60% | 0.59% |
| MTCHMATCH GROUP INC | 0.58% | 0.58% |
| GKOSGLAUKOS | 0.57% | 0.57% |
| PAYCPAYCOM SOFTWARE | 0.57% | 0.57% |
| EATBRINKER INTERNATIONAL INC | 0.56% | 0.55% |
| SMSM ENERGY | 0.55% | 0.55% |
| RHPRYMAN HOSPITALITY PROPERTIES REIT | 0.50% | 0.50% |
| PTGXPROTAGONIST THERAPEUTICS | 0.49% | 0.49% |
| VSATVIASAT INC | 0.47% | 0.47% |
| ESIELEMENT SOLUTIONS INC | 0.47% | 0.47% |
Quick verdict
SPSM has the edge on these figures, with lower fees, more income today and faster dividend growth. IJR does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is IJR or SPSM better for dividend income?
It depends on your goals. IJR currently yields 1.24% Trailing Twelve Months (TTM) while SPSM yields 1.54%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between IJR and SPSM?
iShares Core S&P Small-Cap ETF (IJR) is an ETF listed on AMEX. State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, IJR or SPSM?
SPSM has the lower expense ratio. IJR charges 0.06% a year and SPSM charges 0.03%, a difference of $3 a year on a $10,000 investment.
Which has performed better, IJR or SPSM?
Over the last 5 years, SPSM has the higher total return with dividends reinvested: IJR returned 31.1% and SPSM returned 31.7%. Past performance does not predict future returns.
Which is riskier, IJR or SPSM?
Measured by the worst peak-to-trough decline over the last five years, IJR has been riskier: IJR fell as much as 28.0% and SPSM as much as 27.9%. Their betas are 1.04 and 1.04.
How much do IJR and SPSM overlap?
At least 34% of the two portfolios overlap by weight, across 94 shared holdings. The largest shared positions are CORT, MTCH, GKOS. Holding both still adds meaningful diversification.
How often do IJR and SPSM pay dividends?
Both pay quarterly. The most recent payments were $0.5094 for IJR and $0.2202 for SPSM.
How much income does $10,000 in IJR vs SPSM generate?
At current TTM yields, $10,000 in IJR would generate roughly $10.34 per month ($124 annually). The same amount in SPSM would produce about $12.80 per month ($154 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both IJR and SPSM?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare IJR vs SPSM with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IJR and SPSM fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.