CAPE vs IVV
DoubleLine Shiller CAPE US Equities ETF vs iShares Core S&P 500 ETF
Which is better, CAPE or IVV?
Large Cap Value against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. CAPE is less concentrated, with 26.3% of the fund in its ten largest positions against 37.8%.
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 | CAPE | IVV |
|---|---|---|
| Expense Ratio | 0.65% | 0.03%Best |
| AUM | $241M | $876.4B |
| Dividend Yield | 1.37% | 1.06% |
| Holdings | 307 | 508 |
| YTD Return | -0.53% | +11.03%Best |
| 1Y Return | -1.39% | +15.62%Best |
| 3Y Return (annualized) | +10.07% | +20.81%Best |
| 5Y Return (annualized) | - | +12.61% |
| Volatility (annualized) | 16.6% | 15.2%Best |
| Max Drawdown | -22.1% | -20.3%Best |
| $10,000 over 4.4 years | $13,291 | $17,655Best |
| Top 10 Weight | 26.3%Best | 37.8% |
| Fund Family | DoubleLine Funds | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 31, 2022 | May 15, 2000 |
Volatility and max drawdown, and the $10,000 over 4.4 years row, are measured over the window both funds cover: Apr 5, 2022 to Sep 16, 2026 (4.4 years).
CAPE 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 covers the 4.4 years both funds cover.
CAPE vs IVV Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year CAPE returned -1.39% while IVV returned +15.62%. Year to date, CAPE is down 0.53% versus a gain of 11.03% for IVV.
Over three years, CAPE compounded at +10.07% per year against +20.81% for IVV. Across the full 4-year window we track, IVV has the edge at +13.79% annualized vs +6.68%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CAPE has been the more volatile fund, with annualized monthly volatility of 16.6% compared with 15.2% 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 -22.1% for CAPE and -20.3% 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 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CAPE charges 0.65% per year while IVV charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, CAPE currently yields 1.37% against 1.06% for IVV.
Holdings Overlap
91.3% of CAPE's money is in holdings IVV also owns. 24.6% of IVV's money is in holdings CAPE also owns.
Most of CAPE is already inside IVV. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, CAPE as of Jun 30, 2026 and IVV as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
137 positions in common, counted across the 181 positions we hold weights for in CAPE and 490 in IVV, against full books of 307 and 508.
What only one of them owns
Our book lists 347 positions for IVV that do not appear in our book for CAPE (74.1% of the fund), and 43 for CAPE that do not appear in IVV (8.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CAPE | Weight in IVV | Difference |
|---|---|---|---|
| LLYEli Lilly & Co. | 4.38% | 1.38% | 3.00% |
| GOOGLAlphabet Inc,class A | 2.33% | 3.00% | 0.67% |
| METAMeta Platforms Inc | 3.15% | 1.90% | 1.25% |
| GOOGAlphabet Inc | 1.85% | 2.39% | 0.54% |
| JNJJohnson & Johnson - Common | 2.81% | 0.97% | 1.84% |
| WMTWalmart, Inc. | 2.64% | 0.69% | 1.95% |
| WELLWelltower, Inc. | 2.66% | 0.25% | 2.41% |
| COSTCostco Wholesale Corp. | 2.22% | 0.63% | 1.59% |
| ABBVAbbvie Inc. | 2.03% | 0.68% | 1.35% |
| PLDPrologis Inc | 2.18% | 0.20% | 1.98% |
91.3% of CAPE is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or IVV?
CAPE has an expense ratio of 0.65% while IVV charges 0.03%. IVV is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, CAPE or IVV?
Over the past year CAPE returned -1.39% vs +15.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (4 years), CAPE annualized +6.68% vs +13.79% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or IVV?
CAPE has been the more volatile fund at 16.6% annualized versus 15.2% for IVV. Worst drawdown: CAPE -22.1% vs IVV -20.3%.
Should I hold both CAPE and IVV?
CAPE and IVV have a monthly-return correlation of 0.88, 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 CAPE and IVV?
91.3% of CAPE's money is in holdings IVV also owns. 24.6% of IVV's is in holdings CAPE also owns. They hold 137 positions in common, counted across the 181 positions we hold weights for in CAPE and 490 in IVV.
Which pays a higher dividend, CAPE or IVV?
CAPE yields 1.37% while IVV yields 1.06%, so CAPE currently pays the higher dividend yield.
Is IVV better than CAPE?
IVV has a lower expense ratio. IVV led over 1Y, 3Y and the full window. CAPE is less concentrated, with 26.3% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.