EWX vs IVV
State Street SPDR S&P Emerging Markets Small Cap ETF vs iShares Core S&P 500 ETF
Which is better, EWX or IVV?
Small Cap Blend against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% of the fund in its ten largest positions against 37.9%.
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 | EWX | IVV |
|---|---|---|
| Expense Ratio | 0.65% | 0.03%Best |
| AUM | $704M | $886.7B |
| Dividend Yield | 2.73% | 1.10% |
| Holdings | 3,452 | 508 |
| YTD Return | +12.49% | +13.39%Best |
| 1Y Return | +15.56% | +20.08%Best |
| 3Y Return (annualized) | +12.98% | +21.29%Best |
| 5Y Return (annualized) | +6.52% | +12.88%Best |
| Volatility (annualized) | 21.4% | 15.7%Best |
| Max Drawdown | -63.9% | -52.4%Best |
| $10,000 over 5 years | $13,714 | $18,327Best |
| Top 10 Weight | 3.7%Best | 37.9% |
| Fund Family | SPDR State Street Global Advisors | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Small Cap Blend | Large Cap Blend |
| Inception | May 12, 2008 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: May 16, 2008 to Sep 4, 2026 (18.3 years).
EWX 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 18.3 years both funds cover.
EWX vs IVV Performance
State Street SPDR S&P Emerging Markets Small Cap ETF (EWX) is an ETF from SPDR State Street Global Advisors and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year EWX returned +15.56% while IVV returned +20.08%. Year to date, EWX is up 12.49% versus a gain of 13.39% for IVV.
Over three years, EWX compounded at +12.98% per year against +21.29% for IVV; over five years the annualized figures are +6.52% and +12.88% respectively. Across the full 18-year window we track, IVV has the edge at +10.13% annualized vs +2.48%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EWX has been the more volatile fund, with annualized monthly volatility of 21.4% compared with 15.7% 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 -63.9% for EWX and -52.4% 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 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
EWX charges 0.65% per year while IVV charges 0.03%. On a $10,000 position that is $65 vs $3 annually, a gap of $62 per year that compounds over a long holding period. On income, EWX currently yields 2.73% against 1.10% for IVV.
Holdings Overlap
0.1% of EWX's money is in holdings IVV also owns. 1.3% of IVV's money is in holdings EWX also owns.
IVV and EWX share little of their money.
The two holdings books were reported 127 days apart, EWX as of Mar 31, 2026 and IVV as of Aug 5, 2026, so some of the difference between them is the time between the two reports rather than the funds.
3 positions in common, counted across the 3,275 positions we hold weights for in EWX and 505 in IVV, against full books of 3,452 and 508.
What only one of them owns
Our book lists 494 positions for IVV that do not appear in our book for EWX (98.0% of the fund), and 51 for EWX that do not appear in IVV (1.7%).
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.
You are not choosing between two funds in isolation.
Whichever of EWX and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EWX or IVV?
EWX has an expense ratio of 0.65% while IVV charges 0.03%. IVV is the cheaper option, by $62 a year on a $10,000 investment.
Which performed better, EWX or IVV?
Over the past year EWX returned +15.56% vs +20.08% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (18 years), EWX annualized +2.48% vs +10.13% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EWX or IVV?
EWX has been the more volatile fund at 21.4% annualized versus 15.7% for IVV. Worst drawdown: EWX -63.9% vs IVV -52.4%.
Should I hold both EWX and IVV?
EWX and IVV have a monthly-return correlation of 0.76, 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 EWX and IVV?
1.3% of IVV's money is in holdings EWX also owns. 1.3% of IVV's is in holdings EWX also owns. They hold 3 positions in common, counted across the 3,275 positions we hold weights for in EWX and 505 in IVV.
Which pays a higher dividend, EWX or IVV?
EWX yields 2.73% while IVV yields 1.10%, so EWX currently pays the higher dividend yield.
Is IVV better than EWX?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. EWX is less concentrated, with 3.7% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.