AAPR vs IVV
Innovator Equity Defined Protection ETF - 2 Yr to April 2026 vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | AAPR | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.03% | |
| AUM | $73M | $907.0B | |
| Dividend Yield | 0.00% | 1.10% | |
| Holdings | 7 | 508 | |
| YTD Return | +4.70% | +12.71% | |
| 1Y Return | +7.98% | +21.89% | |
| 3Y Return (annualized) | - | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 3.0% | 15.1% | |
| Max Drawdown | -6.0% | -56.5% | |
| Fund Family | Innovator ETFs Trust | iShares by BlackRock (US) | |
| Category | Alternative | Equity | |
| Inception | Apr 1, 2024 | May 15, 2000 |
AAPR vs IVV Performance
Innovator Equity Defined Protection ETF - 2 Yr to April 2026 (AAPR) is a ETF from Innovator ETFs Trust and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year AAPR returned +7.98% while IVV returned +21.89%. Year to date, AAPR is up 4.70% versus a gain of 12.71% for IVV.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 3.0% for AAPR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.0% for AAPR and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AAPR charges 0.79% per year while IVV charges 0.03%. On a $10,000 position that is $79 vs $3 annually, a gap of $76 per year that compounds over a long holding period. On income, AAPR currently yields 0.00% against 1.10% for IVV.
Holdings Overlap
AAPR and IVV share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, AAPR or IVV?
AAPR has an expense ratio of 0.79% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $76 per year of difference.
Which performed better, AAPR or IVV?
Over the past year AAPR returned +7.98% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (2 years), AAPR annualized +7.92% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, AAPR or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 3.0% for AAPR. Worst drawdown: AAPR -6.0% vs IVV -56.5%.
Should I hold both AAPR and IVV?
AAPR and IVV have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between AAPR and IVV?
AAPR and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, AAPR or IVV?
AAPR yields 0.00% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.