DLY vs IVV
DoubleLine Yield Opportunities Fund 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 505 holdings.
Side-by-Side Comparison
| Metric | DLY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 3.38% | 0.03% | |
| AUM | $735M | $865.2B | |
| Dividend Yield | 9.24% | 1.09% | |
| Holdings | 490 | 508 | |
| YTD Return | +2.84% | +13.43% | |
| 1Y Return | +1.26% | +22.61% | |
| 3Y Return (annualized) | +7.29% | +21.47% | |
| 5Y Return (annualized) | +2.55% | +13.26% | |
| Volatility (annualized) | 13.3% | 15.1% | |
| Max Drawdown | -28.6% | -56.5% | |
| Fund Family | DoubleLine Funds | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Feb 26, 2020 | May 15, 2000 |
DLY vs IVV Performance
DoubleLine Yield Opportunities Fund (DLY) is a ETF from DoubleLine Funds and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year DLY returned +1.26% while IVV returned +22.61%. Year to date, DLY is up 2.84% versus a gain of 13.43% for IVV.
Over three years, DLY compounded at +7.29% per year against +21.47% for IVV; over five years the annualized figures are +2.55% and +13.26% respectively. Across the full 7-year window we track, IVV has the edge at +7.03% annualized vs +2.25%. 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 13.3% for DLY. 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 -28.6% for DLY 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 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DLY charges 3.38% per year while IVV charges 0.03%. On a $10,000 position that is $338 vs $3 annually, a gap of $335 per year that compounds over a long holding period. On income, DLY currently yields 9.24% against 1.09% for IVV.
Holdings Overlap
DLY and IVV share 0 holdings out of 506 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DLY or IVV?
DLY has an expense ratio of 3.38% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $335 per year of difference.
Which performed better, DLY or IVV?
Over the past year DLY returned +1.26% vs +22.61% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (7 years), DLY annualized +2.25% vs +7.03% for IVV. Past performance does not guarantee future results.
Which is riskier, DLY or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 13.3% for DLY. Worst drawdown: DLY -28.6% vs IVV -56.5%.
Should I hold both DLY and IVV?
DLY and IVV have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DLY and IVV?
DLY and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 506 unique securities.
Which pays a higher dividend, DLY or IVV?
DLY yields 9.24% while IVV yields 1.09%, so DLY currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.