FDHY vs IVV
Fidelity Enhanced High Yield 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 | FDHY | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.03% | |
| AUM | $571M | $907.0B | |
| Dividend Yield | 7.13% | 1.10% | |
| Holdings | 302 | 508 | |
| YTD Return | +3.64% | +14.29% | |
| 1Y Return | +7.00% | +21.79% | |
| 3Y Return (annualized) | +8.91% | +22.19% | |
| 5Y Return (annualized) | +3.99% | +13.28% | |
| Volatility (annualized) | 8.0% | 15.1% | |
| Max Drawdown | -20.3% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Fixed Income | Equity | |
| Inception | Jun 12, 2018 | May 15, 2000 |
FDHY vs IVV Performance
Fidelity Enhanced High Yield ETF (FDHY) is a ETF from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FDHY returned +7.00% while IVV returned +21.79%. Year to date, FDHY is up 3.64% versus a gain of 14.29% for IVV.
Over three years, FDHY compounded at +8.91% per year against +22.19% for IVV; over five years the annualized figures are +3.99% and +13.28% respectively. Across the full 8-year window we track, IVV has the edge at +7.06% annualized vs +4.19%. 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 8.0% for FDHY. 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 -20.3% for FDHY 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FDHY charges 0.35% per year while IVV charges 0.03%. On a $10,000 position that is $35 vs $3 annually, a gap of $32 per year that compounds over a long holding period. On income, FDHY currently yields 7.13% against 1.10% for IVV.
Holdings Overlap
FDHY and IVV share 0 holdings out of 508 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, FDHY or IVV?
FDHY has an expense ratio of 0.35% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $32 per year of difference.
Which performed better, FDHY or IVV?
Over the past year FDHY returned +7.00% vs +21.79% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (8 years), FDHY annualized +4.19% vs +7.06% for IVV. Past performance does not guarantee future results.
Which is riskier, FDHY or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 8.0% for FDHY. Worst drawdown: FDHY -20.3% vs IVV -56.5%.
Should I hold both FDHY and IVV?
FDHY and IVV have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FDHY and IVV?
FDHY and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 508 unique securities.
Which pays a higher dividend, FDHY or IVV?
FDHY yields 7.13% while IVV yields 1.10%, so FDHY currently pays the higher dividend yield.
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