DFNL vs IVV
Davis Select Financial ETF vs iShares Core S&P 500 ETF
Which is better, DFNL or IVV?
Large Cap Value against Large Cap Blend.
IVV has a lower expense ratio. DFNL led over 3Y and 5Y, IVV over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 57.1%.
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 | DFNL | IVV |
|---|---|---|
| Expense Ratio | 0.61% | 0.03%Best |
| AUM | $486M | $886.7B |
| Dividend Yield | 1.29% | 1.10% |
| Holdings | 31 | 508 |
| YTD Return | +7.68% | +13.39%Best |
| 1Y Return | +15.16% | +20.08%Best |
| 3Y Return (annualized) | +24.97%Best | +21.29% |
| 5Y Return (annualized) | +13.54%Best | +12.88% |
| Volatility (annualized) | 19.8% | 15.6%Best |
| Max Drawdown | -44.5% | -33.9%Best |
| $10,000 over 5 years | $18,869Best | $18,327 |
| Top 10 Weight | 57.1% | 37.9%Best |
| Fund Family | Davis ETFs | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Jan 11, 2017 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Jan 12, 2017 to Sep 4, 2026 (9.6 years).
DFNL 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 9.6 years both funds cover.
DFNL vs IVV Performance
Davis Select Financial ETF (DFNL) is an ETF from Davis ETFs and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year DFNL returned +15.16% while IVV returned +20.08%. Year to date, DFNL is up 7.68% versus a gain of 13.39% for IVV.
Over three years, DFNL compounded at +24.97% per year against +21.29% for IVV; over five years the annualized figures are +13.54% and +12.88% respectively. Across the full 10-year window we track, IVV has the edge at +14.42% annualized vs +12.36%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DFNL has been the more volatile fund, with annualized monthly volatility of 19.8% compared with 15.6% 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 -44.5% for DFNL and -33.9% 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DFNL charges 0.61% per year while IVV charges 0.03%. On a $10,000 position that is $61 vs $3 annually, a gap of $58 per year that compounds over a long holding period. On income, DFNL currently yields 1.29% against 1.10% for IVV.
Holdings Overlap
68.8% of DFNL's money is in holdings IVV also owns. 5.7% of IVV's money is in holdings DFNL also owns.
The two portfolios partly overlap.
18 positions in common, counted across the 31 positions we hold weights for in DFNL and 505 in IVV, against full books of 31 and 508.
What only one of them owns
Our book lists 479 positions for IVV that do not appear in our book for DFNL (93.6% of the fund), and 5 for DFNL that do not appear in IVV (15.3%).
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 DFNL | Weight in IVV | Difference |
|---|---|---|---|
| COFCapital One Financial Corp. | 11.08% | 0.21% | 10.87% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 5.26% | 1.43% | 3.83% |
| USBUS Bancorp | 6.39% | 0.15% | 6.24% |
| FITBFifth Third Bancorp | 6.04% | 0.08% | 5.96% |
| JPMJpmorgan Chase | 4.40% | 1.45% | 2.95% |
| WFCWells Fargo & Co. | 4.83% | 0.41% | 4.42% |
| PNCPnc Financial Services Group Inc. | 4.66% | 0.15% | 4.51% |
| CBChubb Ltd. | 4.37% | 0.19% | 4.18% |
| AXPAmerican Express Co. | 3.43% | 0.28% | 3.15% |
| BACBank of America Corp.: Financials | 2.48% | 0.62% | 1.86% |
68.8% of DFNL 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, DFNL or IVV?
DFNL has an expense ratio of 0.61% while IVV charges 0.03%. IVV is the cheaper option, by $58 a year on a $10,000 investment.
Which performed better, DFNL or IVV?
Over the past year DFNL returned +15.16% vs +20.08% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (10 years), DFNL annualized +12.36% vs +14.42% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DFNL or IVV?
DFNL has been the more volatile fund at 19.8% annualized versus 15.6% for IVV. Worst drawdown: DFNL -44.5% vs IVV -33.9%.
Should I hold both DFNL and IVV?
DFNL and IVV have a monthly-return correlation of 0.79, 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 DFNL and IVV?
68.8% of DFNL's money is in holdings IVV also owns. 5.7% of IVV's is in holdings DFNL also owns. They hold 18 positions in common, counted across the 31 positions we hold weights for in DFNL and 505 in IVV.
Which pays a higher dividend, DFNL or IVV?
DFNL yields 1.29% while IVV yields 1.10%, so DFNL currently pays the higher dividend yield.
Is IVV better than DFNL?
IVV has a lower expense ratio. DFNL led over 3Y and 5Y, IVV over 1Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 57.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.