IVVW vs SPYT: Income Fund Comparison
iShares S&P 500 BuyWrite ETF - US (IVVW) and Defiance S&P 500 Income Target ETF - US (SPYT) are both income-focused funds. Below is our independent side-by-side review using the Dependable Income Investing 13-factor scoring system — designed specifically for income investors seeking reliable, sustainable distributions.
Also see: IVVW individual review · SPYT individual review
IVVW: MER is 0.25%. This is very low for a covered call fund. SPYT: Expense ratio is 0.87%. IVVW fund inception date was March 14 2024. SPYT the fund was established March 7 2024 - just over 2 years of history. Full Dependability and Return scores for both funds are available in the app.
| IVVW | SPYT | |
|---|---|---|
| Fund Name | iShares S&P 500 BuyWrite ETF - US | Defiance S&P 500 Income Target ETF - US |
| Fund Type | Index Based Fund | Index Based Fund |
| Exchange | NYSE/NASDAQ | NYSE/NASDAQ |
| Last Reviewed | 2025-06-04 | 2026-04-07 |
| Author | Adam Hyde, Income Investing Analyst | |
🔒 Full scores available — with Premium subscription
Compare Performance — Free →Fund Attributes: IVVW vs SPYT 20% of overall score
Fund Attributes cover the foundational characteristics of each fund: cost, company backing, track record, and size. These factors reflect stability and cost-efficiency for long-term income investors.
MER is 0.25%. This is very low for a covered call fund.
Expense ratio is 0.87%.
iShares Blackrock has more than 3.3 Trillion under management.
Defiance ETFs manages approximately $7.32 billion across its ETF suite.
Fund inception date was March 14 2024.
The fund was established March 7 2024 - just over 2 years of history.
40 Million net assets invested in this fund.
Net assets are approximately $138 million.
Risk: IVVW vs SPYT 35% of overall score
Risk factors evaluate how each fund manages volatility, diversification, and the nature of its underlying assets — critical considerations for income investors who prioritise capital preservation.
Portfolio visualizer says the beta is 0.62 which is lower volatility than the overall market.
Beta is 1.0154 vs SPY over the data series from 2024-03-15 to 2026-03-28 - in line with the market. Standalone volatility is 14.23% annualized (weekly total returns) - low to moderate price choppiness.
See the full Risk analysis for both IVVW and SPYT — volatility ratings, diversification scores, and analyst notes.
View Plans →Return: IVVW vs SPYT 45% of overall score
Return factors assess income generation quality: current yield, distribution consistency, price history, and payment frequency. This is the most heavily weighted category for income investors.
Pays monthly.
Monthly distributions confirmed by distribution history.
See the full Return analysis for both IVVW and SPYT — yield ratings, distribution consistency scores, and capital history.
View Plans →Our Review Methodology
Every fund reviewed on Dependable Income Investing is scored using our 13-factor Fund Report Card, organised into three weighted categories: Fund Attributes (20%), Risk (35%), and Return (45%). Each criterion is rated 1–5 by our analysts based on publicly available fund data.
We also calculate a Dependability Score — a weighted composite of six income-specific factors ranked by importance for retirement income investors: Yield Stability, Yield, Volatility, Capital History, Fund Risk, and Underlying Assets. This score answers the question income investors care about most: can I depend on this fund to pay me reliably?
Full scores, ratings, and analyst notes for both IVVW and SPYT are available in the Dependable Income Investing app.
See our full scoring methodology →
Frequently Asked Questions: IVVW vs SPYT
Which has a lower expense ratio, IVVW or SPYT?
IVVW: MER is 0.25%. This is very low for a covered call fund.
SPYT: Expense ratio is 0.87%.
Which fund has more assets under management, IVVW or SPYT?
IVVW: 40 Million net assets invested in this fund.
SPYT: Net assets are approximately $138 million.
Which fund has been trading longer, IVVW or SPYT?
IVVW: Fund inception date was March 14 2024.
SPYT: The fund was established March 7 2024 - just over 2 years of history.
Who manages IVVW vs SPYT?
IVVW: iShares Blackrock has more than 3.3 Trillion under management.
SPYT: Defiance ETFs manages approximately $7.32 billion across its ETF suite.
Where can I see the full IVVW vs SPYT comparison with scores?
The complete side-by-side comparison — including all Risk and Return scores, analyst notes, Overall Score, and Dependability Score for both funds — is available in the Dependable Income Investing app.
What is the difference between IVVW and SPYT?
iShares S&P 500 BuyWrite ETF - US is a Index Based Fund. MER is 0.25%. This is very low for a covered call fund. Defiance S&P 500 Income Target ETF - US is a Index Based Fund. Expense ratio is 0.87%. Full comparison including Dependability Score is available in the Dependable Income Investing app.
Which is better for income investors, IVVW or SPYT?
IVVW: MER is 0.25%. This is very low for a covered call fund. Fund inception date was March 14 2024. SPYT: Expense ratio is 0.87%. The fund was established March 7 2024 - just over 2 years of history. Which scores higher on Dependability and Return is available in the Dependable Income Investing app.
Do IVVW and SPYT pay monthly distributions?
IVVW: Pays monthly. SPYT: Monthly distributions confirmed by distribution history. Full yield and distribution stability scores for both funds are available in the Dependable Income Investing app.
See the Full IVVW vs SPYT Comparison
The Dependable Income Investing app gives you the complete picture: all 13 scoring factors for both funds, Risk and Return analyst notes, Dependability Scores, and tools to compare any income fund side by side.
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