CVMC vs IVV
Calvert US Mid-Cap Core Responsible Index ETF vs iShares Core S&P 500 ETF
Which is better, CVMC or IVV?
Mid Cap Blend against Large Cap Blend.
IVV has a lower expense ratio. CVMC led over 1Y, IVV over 3Y and the full window. CVMC is less concentrated, with 5.8% 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 | CVMC | IVV |
|---|---|---|
| Expense Ratio | 0.15% | 0.03%Best |
| AUM | $106M | $876.4B |
| Dividend Yield | 1.17% | 1.06% |
| Holdings | 595 | 508 |
| YTD Return | +15.05%Best | +11.03% |
| 1Y Return | +18.55%Best | +15.62% |
| 3Y Return (annualized) | +16.22% | +20.81%Best |
| 5Y Return (annualized) | - | +12.61% |
| Volatility (annualized) | 15.6% | 12.5%Best |
| Max Drawdown | -22.5% | -18.8%Best |
| $10,000 over 3.6 years | $14,917 | $19,179Best |
| Top 10 Weight | 5.8%Best | 37.8% |
| Fund Family | Calvert | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | Jan 30, 2023 | May 15, 2000 |
Volatility and max drawdown, and the $10,000 over 3.6 years row, are measured over the window both funds cover: Feb 1, 2023 to Sep 16, 2026 (3.6 years).
CVMC 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 3.6 years both funds cover.
CVMC vs IVV Performance
Calvert US Mid-Cap Core Responsible Index ETF (CVMC) is an ETF from Calvert and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year CVMC returned +18.55% while IVV returned +15.62%. Year to date, CVMC is up 15.05% versus a gain of 11.03% for IVV.
Over three years, CVMC compounded at +16.22% per year against +20.81% for IVV. Across the full 4-year window we track, IVV has the edge at +19.83% annualized vs +11.75%.
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 12.5% 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 -22.5% for CVMC and -18.8% 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 0.84. 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 1.17% against 1.06% for IVV.
Holdings Overlap
58.4% of CVMC's money is in holdings IVV also owns. 9.5% of IVV's money is in holdings CVMC also owns.
The two portfolios partly overlap.
222 positions in common, counted across the 589 positions we hold weights for in CVMC and 490 in IVV, against full books of 595 and 508.
What only one of them owns
Our book lists 262 positions for IVV that do not appear in our book for CVMC (89.2% of the fund), and 356 for CVMC that do not appear in IVV (39.5%).
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 CVMC | Weight in IVV | Difference |
|---|---|---|---|
| TGTTarget Corp Common Stock Usd.0833 | 0.63% | 0.11% | 0.52% |
| HPEHewlett Packard Enterprise Co | 0.60% | 0.10% | 0.50% |
| AJGArthur J Gallagher & Co. | 0.59% | 0.10% | 0.49% |
| PCARPaccar Inc. | 0.55% | 0.10% | 0.45% |
| MRNAModerna therapeutics | 0.55% | 0.07% | 0.48% |
| NUENucor Corp. | 0.52% | 0.09% | 0.43% |
| DDominion Energy Inc. | 0.51% | 0.09% | 0.42% |
| ORealty Income Corp. | 0.50% | 0.09% | 0.41% |
| EQRVivmark Residential | 0.51% | 0.07% | 0.44% |
| GWWWw Grainger Inc. | 0.48% | 0.09% | 0.39% |
58.4% of CVMC 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, CVMC or IVV?
CVMC has an expense ratio of 0.15% while IVV charges 0.03%. IVV is the cheaper option, by $12 a year on a $10,000 investment.
Which performed better, CVMC or IVV?
Over the past year CVMC returned +18.55% vs +15.62% for IVV, so CVMC leads on 1-year performance. Over the longest common window we track (4 years), CVMC annualized +11.75% vs +19.83% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CVMC or IVV?
CVMC has been the more volatile fund at 15.6% annualized versus 12.5% for IVV. Worst drawdown: CVMC -22.5% vs IVV -18.8%.
Should I hold both CVMC and IVV?
CVMC and IVV have a monthly-return correlation of 0.84, 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 CVMC and IVV?
58.4% of CVMC's money is in holdings IVV also owns. 9.5% of IVV's is in holdings CVMC also owns. They hold 222 positions in common, counted across the 589 positions we hold weights for in CVMC and 490 in IVV.
Which pays a higher dividend, CVMC or IVV?
CVMC yields 1.17% while IVV yields 1.06%, so CVMC currently pays the higher dividend yield.
Is IVV better than CVMC?
IVV has a lower expense ratio. CVMC led over 1Y, IVV over 3Y and the full window. CVMC is less concentrated, with 5.8% 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.