FOF vs IVV
Cohen & Steers Closed-End Opportunity Fund Inc. 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 | FOF | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.03% | |
| AUM | - | $907.0B | |
| Dividend Yield | 7.76% | 1.10% | |
| Holdings | 106 | 508 | |
| YTD Return | +7.95% | +13.51% | |
| 1Y Return | +11.72% | +20.65% | |
| 3Y Return (annualized) | +17.45% | +21.94% | |
| 5Y Return (annualized) | +6.97% | +12.95% | |
| Volatility (annualized) | 17.9% | 15.1% | |
| Max Drawdown | -66.8% | -56.5% | |
| Fund Family | Cohen & Steers Funds | iShares by BlackRock (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Nov 20, 2006 | May 15, 2000 |
FOF vs IVV Performance
Cohen & Steers Closed-End Opportunity Fund Inc. (FOF) is a ETF from Cohen & Steers Funds and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FOF returned +11.72% while IVV returned +20.65%. Year to date, FOF is up 7.95% versus a gain of 13.51% for IVV.
Over three years, FOF compounded at +17.45% per year against +21.94% for IVV; over five years the annualized figures are +6.97% and +12.95% respectively. Across the full 20-year window we track, IVV has the edge at +7.02% annualized vs +0.40%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FOF has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 15.1% 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 -66.8% for FOF 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
FOF 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, FOF currently yields 7.76% against 1.10% for IVV.
Holdings Overlap
FOF and IVV share 0 holdings out of 596 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, FOF or IVV?
FOF 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, FOF or IVV?
Over the past year FOF returned +11.72% vs +20.65% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (20 years), FOF annualized +0.40% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, FOF or IVV?
FOF has been the more volatile fund at 17.9% annualized versus 15.1% for IVV. Worst drawdown: FOF -66.8% vs IVV -56.5%.
Should I hold both FOF and IVV?
FOF 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 FOF and IVV?
FOF and IVV share 0 common holdings with a 0.0% weight overlap. Combined, they hold 596 unique securities.
Which pays a higher dividend, FOF or IVV?
FOF yields 7.76% while IVV yields 1.10%, so FOF currently pays the higher dividend yield.
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