CDX vs IVV
Simplify High Yield ETF 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 505 holdings.
Side-by-Side Comparison
| Metric | CDX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.25% | 0.03% | |
| AUM | $377M | $865.2B | |
| Dividend Yield | 8.31% | 1.09% | |
| Holdings | 227 | 508 | |
| YTD Return | -2.08% | +13.80% | |
| 1Y Return | -3.08% | +23.01% | |
| 3Y Return (annualized) | +7.32% | +21.77% | |
| 5Y Return (annualized) | - | +13.39% | |
| Volatility (annualized) | 7.5% | 15.1% | |
| Max Drawdown | -13.2% | -56.5% | |
| Fund Family | Simplify Exchange Traded Funds | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 14, 2022 | May 15, 2000 |
CDX vs IVV Performance
Simplify High Yield ETF (CDX) is a ETF from Simplify Exchange Traded Funds and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CDX returned -3.08% while IVV returned +23.01%. Year to date, CDX is down 2.08% versus a gain of 13.80% for IVV.
Over three years, CDX compounded at +7.32% per year against +21.77% for IVV. Across the full 5-year window we track, IVV has the edge at +7.04% annualized vs +4.01%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 7.5% for CDX. 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 -13.2% for CDX 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CDX charges 0.25% per year while IVV charges 0.03%. On a $10,000 position that is $25 vs $3 annually, a gap of $22 per year that compounds over a long holding period. On income, CDX currently yields 8.31% against 1.09% for IVV.
Holdings Overlap
CDX and IVV share 45 holdings out of 616 unique holdings combined, representing a 4.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CDX or IVV?
CDX has an expense ratio of 0.25% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, CDX or IVV?
Over the past year CDX returned -3.08% vs +23.01% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (5 years), CDX annualized +4.01% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, CDX or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 7.5% for CDX. Worst drawdown: CDX -13.2% vs IVV -56.5%.
Should I hold both CDX and IVV?
CDX and IVV have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CDX and IVV?
CDX and IVV share 45 common holdings with a 4.2% weight overlap. Combined, they hold 616 unique securities.
Which pays a higher dividend, CDX or IVV?
CDX yields 8.31% while IVV yields 1.09%, so CDX currently pays the higher dividend yield.
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