AVK vs IVV
Advent Convertible and Income Fund vs iShares Core S&P 500 ETF
Which is better, AVK or IVV?
Convertibles against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AVK | IVV |
|---|---|---|
| Expense Ratio | 2.77% | 0.03%Best |
| AUM | $594M | $876.4B |
| Dividend Yield | 10.36% | 1.06% |
| Holdings | 435 | 508 |
| YTD Return | +5.63% | +12.24%Best |
| 1Y Return | +9.87% | +18.61%Best |
| 3Y Return (annualized) | +16.06% | +20.98%Best |
| 5Y Return (annualized) | +3.83% | +12.76%Best |
| Volatility (annualized) | 20.8% | 14.5%Best |
| Max Drawdown | -72.6% | -56.5%Best |
| $10,000 over 5 years | $12,067 | $18,230Best |
| Fund Family | Guggenheim Investments | iShares by BlackRock (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Blend |
| Inception | Apr 29, 2003 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 30, 2003 to Sep 9, 2026 (23.4 years).
AVK vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
AVK vs IVV Performance
Advent Convertible and Income Fund (AVK) is an ETF from Guggenheim Investments and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year AVK returned +9.87% while IVV returned +18.61%. Year to date, AVK is up 5.63% versus a gain of 12.24% for IVV.
Over three years, AVK compounded at +16.06% per year against +20.98% for IVV; over five years the annualized figures are +3.83% and +12.76% respectively. Across the full 23-year window we track, IVV has the edge at +9.86% annualized vs -0.11%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AVK has been the more volatile fund, with annualized monthly volatility of 20.8% compared with 14.5% for IVV. 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 -72.6% for AVK and -56.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.81. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AVK charges 2.77% per year while IVV charges 0.03%. On a $10,000 position that is $277 vs $3 annually, a gap of $274 per year that compounds over a long holding period. On income, AVK currently yields 10.36% against 1.06% for IVV.
Holdings Overlap
At least 15.2% of IVV's money is in holdings AVK also owns.
Only one direction is shown: for AVK, our book for it lists positions totalling 110.4% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
IVV and AVK share little of their money.
The two holdings books were reported 187 days apart, AVK as of Jan 30, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
18 positions in common, counted across the 266 positions we hold weights for in AVK and 505 in IVV, against full books of 435 and 508.
Top Shared Holdings
| Stock | Weight in AVK | Weight in IVV | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 0.51% | 5.44% | 4.93% |
| AVGOBroadcom Inc | 0.45% | 2.98% | 2.53% |
| METAMeta Platform Inc | 0.48% | 1.94% | 1.46% |
| BABoeing Co | 1.93% | 0.28% | 1.65% |
| JPMJpmorgan Chase | 0.47% | 1.45% | 0.98% |
| NEENextera Energy Inc - Common | 1.03% | 0.27% | 0.76% |
| ABBVAbbvie Inc. | 0.57% | 0.65% | 0.08% |
| MCHPMicrochip Technology Inc. | 1.09% | 0.06% | 1.03% |
| MRKMerck & Company Inc | 0.66% | 0.48% | 0.18% |
| UNHUnitedhealth Group Incorporated | 0.49% | 0.56% | 0.07% |
You are not choosing between two funds in isolation.
Whichever of AVK and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AVK or IVV?
AVK has an expense ratio of 2.77% while IVV charges 0.03%. IVV is the cheaper option, by $274 a year on a $10,000 investment.
Which performed better, AVK or IVV?
Over the past year AVK returned +9.87% vs +18.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (23 years), AVK annualized -0.11% vs +9.86% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AVK or IVV?
AVK has been the more volatile fund at 20.8% annualized versus 14.5% for IVV. Worst drawdown: AVK -72.6% vs IVV -56.5%.
Should I hold both AVK and IVV?
AVK and IVV have a monthly-return correlation of 0.81, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between AVK and IVV?
At least 15.2% of IVV's money is in holdings AVK also owns. Our book for AVK is partial, so the real figure is this or higher. They hold 18 positions in common, counted across the 266 positions we hold weights for in AVK and 505 in IVV.
Which pays a higher dividend, AVK or IVV?
AVK yields 10.36% while IVV yields 1.06%, so AVK currently pays the higher dividend yield.
Is IVV better than AVK?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.