CVY vs IVV
Invesco Zacks Multi-Asset Income 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 508 holdings.
Side-by-Side Comparison
| Metric | CVY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.21% | 0.03% | |
| AUM | $125M | $907.0B | |
| Dividend Yield | 4.10% | 1.10% | |
| Holdings | 151 | 508 | |
| YTD Return | +15.13% | +13.22% | |
| 1Y Return | +20.23% | +21.62% | |
| 3Y Return (annualized) | +15.27% | +22.17% | |
| 5Y Return (annualized) | +9.60% | +13.42% | |
| Volatility (annualized) | 18.5% | 15.1% | |
| Max Drawdown | -70.5% | -56.5% | |
| Fund Family | Invesco (US) | iShares by BlackRock (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Sep 21, 2006 | May 15, 2000 |
CVY vs IVV Performance
Invesco Zacks Multi-Asset Income ETF (CVY) is a ETF from Invesco (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CVY returned +20.23% while IVV returned +21.62%. Year to date, CVY is up 15.13% versus a gain of 13.22% for IVV.
Over three years, CVY compounded at +15.27% per year against +22.17% for IVV; over five years the annualized figures are +9.60% and +13.42% respectively. Across the full 20-year window we track, IVV has the edge at +7.02% annualized vs +2.11%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVY has been the more volatile fund, with annualized monthly volatility of 18.5% 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 -70.5% for CVY 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 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVY charges 1.21% per year while IVV charges 0.03%. On a $10,000 position that is $121 vs $3 annually, a gap of $118 per year that compounds over a long holding period. On income, CVY currently yields 4.10% against 1.10% for IVV.
Holdings Overlap
CVY and IVV share 26 holdings out of 628 unique holdings combined, representing a 3.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVY or IVV?
CVY has an expense ratio of 1.21% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $118 per year of difference.
Which performed better, CVY or IVV?
Over the past year CVY returned +20.23% vs +21.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), CVY annualized +2.11% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, CVY or IVV?
CVY has been the more volatile fund at 18.5% annualized versus 15.1% for IVV. Worst drawdown: CVY -70.5% vs IVV -56.5%.
Should I hold both CVY and IVV?
CVY and IVV have a monthly-return correlation of 0.86, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVY and IVV?
CVY and IVV share 26 common holdings with a 3.1% weight overlap. Combined, they hold 628 unique securities.
Which pays a higher dividend, CVY or IVV?
CVY yields 4.10% while IVV yields 1.10%, so CVY currently pays the higher dividend yield.
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