FCVT vs IVV
First Trust SSI Strategic Convertible Securities ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. FCVT delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FCVT | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | $104M | $907.0B | |
| Dividend Yield | 1.14% | 1.10% | |
| Holdings | 137 | 508 | |
| YTD Return | +19.38% | +14.29% | |
| 1Y Return | +31.31% | +21.79% | |
| 3Y Return (annualized) | +19.53% | +22.19% | |
| 5Y Return (annualized) | +6.59% | +13.28% | |
| Volatility (annualized) | 14.4% | 15.1% | |
| Max Drawdown | -32.3% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Convertible | Equity | |
| Inception | Nov 3, 2015 | May 15, 2000 |
FCVT vs IVV Performance
First Trust SSI Strategic Convertible Securities ETF (FCVT) is a ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FCVT returned +31.31% while IVV returned +21.79%. Year to date, FCVT is up 19.38% versus a gain of 14.29% for IVV.
Over three years, FCVT compounded at +19.53% per year against +22.19% for IVV; over five years the annualized figures are +6.59% and +13.28% respectively. Across the full 11-year window we track, FCVT has the edge at +9.90% annualized vs +7.06%. 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 14.4% for FCVT. 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 -32.3% for FCVT 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FCVT charges 0.95% per year while IVV charges 0.03%. On a $10,000 position that is $95 vs $3 annually, a gap of $92 per year that compounds over a long holding period. On income, FCVT currently yields 1.14% against 1.10% for IVV.
Holdings Overlap
FCVT and IVV share 3 holdings out of 553 unique holdings combined, representing a 0.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FCVT or IVV?
FCVT has an expense ratio of 0.95% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $92 per year of difference.
Which performed better, FCVT or IVV?
Over the past year FCVT returned +31.31% vs +21.79% for IVV, so FCVT leads on 1-year performance. Over the longest common window we track (11 years), FCVT annualized +9.90% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, FCVT or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 14.4% for FCVT. Worst drawdown: FCVT -32.3% vs IVV -56.5%.
Should I hold both FCVT and IVV?
FCVT and IVV have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FCVT and IVV?
FCVT and IVV share 3 common holdings with a 0.6% weight overlap. Combined, they hold 553 unique securities.
Which pays a higher dividend, FCVT or IVV?
FCVT yields 1.14% while IVV yields 1.10%, so FCVT currently pays the higher dividend yield.
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