CVMC vs IVV
Calvert US Mid-Cap Core Responsible Index ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. CVMC delivered stronger 1-year returns. CVMC offers more diversification with 622 holdings.
Side-by-Side Comparison
| Metric | CVMC | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.03% | |
| AUM | $103M | $907.0B | |
| Dividend Yield | 1.18% | 1.10% | |
| Holdings | 622 | 508 | |
| YTD Return | +20.87% | +13.51% | |
| 1Y Return | +24.38% | +20.65% | |
| 3Y Return (annualized) | +17.71% | +21.94% | |
| 5Y Return (annualized) | - | +12.95% | |
| Volatility (annualized) | 15.6% | 15.1% | |
| Max Drawdown | -22.5% | -56.5% | |
| Fund Family | Calvert | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jan 30, 2023 | May 15, 2000 |
CVMC vs IVV Performance
Calvert US Mid-Cap Core Responsible Index ETF (CVMC) 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 CVMC returned +24.38% while IVV returned +20.65%. Year to date, CVMC is up 20.87% versus a gain of 13.51% for IVV.
Over three years, CVMC compounded at +17.71% per year against +21.94% for IVV. Across the full 4-year window we track, CVMC has the edge at +13.50% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVMC has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.1% 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 -22.5% for CVMC 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 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVMC charges 0.15% per year while IVV charges 0.03%. On a $10,000 position that is $15 vs $3 annually, a gap of $12 per year that compounds over a long holding period. On income, CVMC currently yields 1.18% against 1.10% for IVV.
Holdings Overlap
CVMC and IVV share 234 holdings out of 863 unique holdings combined, representing a 9.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVMC or IVV?
CVMC has an expense ratio of 0.15% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, CVMC or IVV?
Over the past year CVMC returned +24.38% vs +20.65% for IVV, so CVMC leads on 1-year performance. Over the longest common window we track (4 years), CVMC annualized +13.50% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, CVMC or IVV?
CVMC has been the more volatile fund at 15.6% annualized versus 15.1% for IVV. Worst drawdown: CVMC -22.5% vs IVV -56.5%.
Should I hold both CVMC and IVV?
CVMC and IVV have a monthly-return correlation of 0.84, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVMC and IVV?
CVMC and IVV share 234 common holdings with a 9.8% weight overlap. Combined, they hold 863 unique securities.
Which pays a higher dividend, CVMC or IVV?
CVMC yields 1.18% while IVV yields 1.10%, so CVMC currently pays the higher dividend yield.
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