CVIE vs IVV
Calvert International Responsible Index ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. CVIE delivered stronger 1-year returns. CVIE offers more diversification with 755 holdings.
Side-by-Side Comparison
| Metric | CVIE | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | |
| AUM | $477M | $907.0B | |
| Dividend Yield | 2.42% | 1.10% | |
| Holdings | 755 | 508 | |
| YTD Return | +19.72% | +12.71% | |
| 1Y Return | +33.06% | +21.89% | |
| 3Y Return (annualized) | +23.30% | +22.08% | |
| 5Y Return (annualized) | - | +12.96% | |
| Volatility (annualized) | 13.8% | 15.1% | |
| Max Drawdown | -13.5% | -56.5% | |
| Fund Family | Calvert | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | May 15, 2000 |
CVIE vs IVV Performance
Calvert International Responsible Index ETF (CVIE) is a ETF from Calvert and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CVIE returned +33.06% while IVV returned +21.89%. Year to date, CVIE is up 19.72% versus a gain of 12.71% for IVV.
Over three years, CVIE compounded at +23.30% per year against +22.08% for IVV. Across the full 4-year window we track, CVIE has the edge at +18.88% annualized vs +7.00%. 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 13.8% for CVIE. 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 -13.5% for CVIE 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 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVIE charges 0.18% per year while IVV charges 0.03%. On a $10,000 position that is $18 vs $3 annually, a gap of $15 per year that compounds over a long holding period. On income, CVIE currently yields 2.42% against 1.10% for IVV.
Holdings Overlap
Frequently Asked Questions
Which is cheaper, CVIE or IVV?
CVIE has an expense ratio of 0.18% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $15 per year of difference.
Which performed better, CVIE or IVV?
Over the past year CVIE returned +33.06% vs +21.89% for IVV, so CVIE leads on 1-year performance. Over the longest common window we track (4 years), CVIE annualized +18.88% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, CVIE or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 13.8% for CVIE. Worst drawdown: CVIE -13.5% vs IVV -56.5%.
Should I hold both CVIE and IVV?
CVIE and IVV have a monthly-return correlation of 0.74, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVIE and IVV?
CVIE and IVV share 2 common holdings with a 0.2% weight overlap. Combined, they hold 1220 unique securities.
Which pays a higher dividend, CVIE or IVV?
CVIE yields 2.42% while IVV yields 1.10%, so CVIE currently pays the higher dividend yield.
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